Cemtrex’s Vicon Industries Secures $10.4 Million Valerus Expansion Order from State Government Corrections Customer
December 16 2024 - 6:30AM
Cemtrex Inc. (NASDAQ: CETX, CETXP), an advanced security technology
and industrial services company, announced today that its Vicon
Industries subsidiary has received a record breaking $10.4 million
order for a state government corrections facility in the
mid-Atlantic region. This significant order will expand the
customer’s Valerus surveillance security system with additional
hardware, including enhanced storage infrastructure.
The order, the largest in Vicon’s 57-year
history, underscores Vicon’s commitment to delivering
state-of-the-art surveillance solutions and is expected to be
fulfilled in the Company’s second fiscal quarter of 2025, fully
within Cemtrex’s fiscal year. Specific details about the customer
remain confidential in accordance with non-disclosure
agreements.
“This record order marks a significant moment in
our company’s history and highlights Vicon’s industry leading
surveillance technology,” said Saagar Govil, Chairman and CEO of
Cemtrex. “It validates our strategic focus on driving growth
through exceptional customer engagement and demonstrates the trust
placed in us by our partners. Demand for Vicon continues to
accelerate as our advanced solutions empower end-users to adapt to
evolving security challenges. From license plate recognition (LPR)
to integrated access control and video management, the Valerus
platform provides a comprehensive, reliable solution that addresses
the dynamic needs of today’s environments.”
Increasing demand for Vicon is being driven by
sales execution and its next generation advanced surveillance
technology. Organizations globally are seeking a reliable source of
video surveillance and access control technologies fit for today’s
highly dynamic environment, and Vicon’s complete solution enables
them to expand as their needs evolve and new capabilities emerge.
Most recently, Vicon launched the next evolution of camera
technology with the NEXT™ Modular Camera System that transforms how
security integrators and end-users install, interact, and support
their camera systems.
“Vicon’s technology innovation, combined with
the video surveillance market’s projected growth to $88.71 billion
by 2030, reaffirms our expected growth potential for the company.
We believe increasing demand for security solutions across various
sectors, including corrections, school districts and border
protection, combined with our innovative technology, will continue
to drive orders and revenue momentum in the years to come. With
this milestone order in hand, it puts Cemtrex on a path to achieve
our goal of profitability in 2025,” concluded Govil.
About Cemtrex
Cemtrex Inc. (CETX) is a company that owns two
operating subsidiaries: Vicon Industries Inc and Advanced
Industrial Services Inc.
Vicon Industries, a subsidiary
of Cemtrex Inc., is a global leader in advanced security and
surveillance technology to safeguard businesses, schools,
municipalities, hospitals and cities. Since 1967, Vicon delivers
mission-critical security surveillance systems, specializing in
engineering complete security solutions that simplify deployment,
operation and ongoing maintenance. Vicon provides security
solutions for some of the largest municipalities and businesses in
the U.S. and around the world, offering a wide range of
cutting-edge and compliant security technologies, from AI-driven
video analytics to fully integrated access control solutions. For
more information visit www.vicon-security.com
AIS – Advanced Industrial
Services, a subsidiary of Cemtrex, Inc., is a premier
provider of industrial contracting services including
millwrighting, rigging, piping, electrical, welding. AIS Installs
high precision equipment in a wide variety of industrial markets
including automotive, printing & graphics, industrial
automation, packaging, and chemicals. AIS owns and operates a
modern fleet of custom designed specialty equipment to assure safe
and quick installation of your production equipment. Our talented
staff participates in recurring instructional training, provided to
ensure that the most current industry methods are being utilized to
provide an efficient and safe working environment. For more
information visit www.ais-york.com
For more information visit www.cemtrex.com.
Forward-Looking Statements
This press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, including statements relating to the closing of
the offering, gross proceeds from the offering, our new product
offerings, expected use of proceeds, or any proposed fundraising
activities. These forward-looking statements are based on
management’s current expectations and are subject to certain risks
and uncertainties that could cause actual results to differ
materially from those set forth in or implied by such forward
looking statements. Statements made herein are as of the date of
this press release and should not be relied upon as of any
subsequent date. These risks and uncertainties are discussed under
the heading “Risk Factors” contained in our Form 10-K filed with
the Securities and Exchange Commission. All information in this
press release is as of the date of the release and we undertake no
duty to update this information unless required by law.
Investor RelationsChris TysonExecutive Vice
President – MZ North AmericaDirect: 949-491-8235
CETX@mzgroup.us www.mzgroup.us
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