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Cemtrex Inc. is planning to set up a state-of-the-art instruments & electronics manufacturing facility in India in order to serve the growing demand for process instrumentation in Asia and other parts of the world. Cemtrex believes that with access to low cost manufacturing, the company will be able to increase its market share and maintain its competitive advantage as a low-cost provider in the market.
Cemtrex plans to establish this facility in the next 12 months. The company is also looking forward to taking advantage of the government incentives offered by the "Make in India" program which will offset some of the upfront costs for the company. The Indian government has announced scheme of incentives for manufacturing of electronics including 25% capital subsidy for 10 years on capital expenditure, reimbursement of central and state duties, and income tax exemptions on setting up in special economic zones, and assistance in skill development, among others.
Cemtrex Chairman and CEO Saagar Govil commented, "This new manufacturing facility will allow us to improve our profit margins on our IS 2500 emission monitor and increase market share through in-stock deliveries. We have long term plans of building a suite of products and this manufacturing plant will set the stage for our long-term success in markets globally."
Cemtrex, Inc. (NASDAQ: CETX) is a global, diversified industrial and manufacturing company that provides a wide array of solutions to meet today's technology challenges and is rapidly growing through acquisitions. Cemtrex provides: manufacturing services of advanced custom engineered electronics, industrial contracting services, monitoring instruments for industrial processes and environmental compliance, and equipment for controlling particulates, hazardous pollutants, and Greenhouse gases used in carbon trading globally. For more information, click here.