FARMINGDALE, N.Y., October 10, 2017 – (Nasdaq: CETX, CETXP, CETXW), a world-leading industrial and manufacturing company, today announced that the company was recently selected by Crain’s New York Business as one of its “ 50 fastest-growing companies in the New York area ” for 2017. The list honors 50 of the most innovative firms for their winning strategies and significant revenue growth. The magazine notes that it arrives at its annual list by analyzing the financial statements of candidates with at least $10 million in revenue and ranking them by their three-year growth rate, assisted by the accounting firm Anchin, Block and Anchin.
Cemtrex ranked #33 on this list, with Crains citing that, “The public company’s strategy has been to seek customers in emerging economies worldwide and pockets of industry in the U.S. that are expanding rapidly, such as the manufacturing of medical devices and automotive electronics.” Cemtrex achieved revenue growth of 585% from 2013 to 2016 as the Company’s sales increased from $13.7 million to 93.7 million.
Cemtrex’s CEO, Saagar Govil, commented, “We are honored to be recognized by Crain’s New York Business. Cemtrex has been one of the fastest growing industrial companies over the last several years in terms of revenue and our goal is to maintain that trend through organic growth and an accretive M&A strategy. We are proud to help companies like Johnson Controls, ABB, and Schneider Electric be more efficient and make great products every day.”To read Crain’s New York Business findings, please click here.
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