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Cemtrex, a diversified industrial and manufacturing leader, announced today that it ranked number 282nd on Deloitte's Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences, and energy tech companies in North America. Cemtrex received this recognition based on its growth of 247% from 2011 to 2014.
Cemtrex Chairman and CEO Saagar Govil credits strong demand for environmental products in emerging economies as well as a critical acquisition as the primary reasons for the Company's tremendous revenue growth.
"We are proud to be on the Fast 500 list for 2015 as this is the second time Cemtrex has made this achievement in the last few years. In 2012, we changed our strategy to focus on high growth markets and have an acquisitive strategy," said Govil. "Both of these strategies paid off for us and we were able to deliver remarkable results during this period. Our new goal is to be on this list again in another three years by achieving at least 150% Revenue growth over the period. Based on our progress so far and our plan moving forward we are confident we can reach this goal."
"Amid a fierce business climate, there seems to be no shortage of new and established companies that are unlocking a seemingly unlimited potential for growth and advancement through technology's continued disruption and proliferation across industries," said Sandra Shirai, principal, Deloitte Consulting LLP and U.S. technology, media and telecommunications leader. "It is inspiring to witness the innovative ways that companies are incorporating emerging technologies for business gains, be it cognitive computing, or the Internet of Things. We congratulate all those ranked on this year's Fast 500 and look forward to seeing their continued growth into 2016."
Overall, 2015 Technology Fast 500 companies achieved revenue growth ranging from 109 percent to 21,984 percent from 2011 to 2014, with an average growth of 850 percent.
Cemtrex, Inc. (NASDAQ: CETX) is a world leading diversified industrial and manufacturing company that provides a wide array of solutions to meet today's technology challenges. Cemtrex provides manufacturing services of advanced custom engineered electronics, monitoring instruments for industrial processes and environmental compliance, and systems for controlling particulates, hazardous gases, emissions of Greenhouse gases, and other regulated pollutants used in emissions trading globally.