Cemtrex (NASDAQ:CETX) received a multi-million dollar order from a new customer, HBH GmbH to build electronic components for high-power HF amplifiers to be used in the FRIB particle accelerator at Michigan State University.
The company expects to execute this order over the next 18-month period.
With this new customer and other existing customer needs, Cemtrex’s management team is optimistic for meeting its organic growth targets over the next year, based on customers’ current purchasing volumes.
Cemtrex Chairman and CEO Saagar Govil commented, “We are excited to be working with HBH GmbH in supporting Michigan State University on this unique application. We believe that working on extremely complex high-tech electronics such as this validates our underlying strategy to focus on niche high-value markets. This strategy is expected to allow us to maintain our strong track record of growth and deliver long term value to our shareholders.”
CETX +16.50% premarket.