FARMINGDALE, N.Y., March 6, 2007 — Cemtrex Inc. (OTC: CTEX) announced today that it has signed a letter of intent to purchase all of the outstanding shares of Griffin Filters, a company engaged in the design, manufacture and supply of air filtration and environmental control systems for industrial and commercial clients throughout the United states. The Company intends to finance this purchase with the issuance of its common stock and a long-term note. The purchase is expected to be completed within the next two months.
"Griffin Filters has been a leading supplier of dust collection systems for the past forty years with hundreds of installations nationwide," said Mr. Aron Govil, CEO and President of Cemtrex, "and this acquisition would allow us to diversify into the rapidly growing environmental control products segment."
Cemtrex through its MIP division is engaged in manufacturing and selling the most advanced instruments for emission monitoring of particulate, mercury, sulfur dioxide, nitrogen oxides, etc. Cemtrex also provides turnkey services for carbon creation projects from abatement of greenhouse gases pursuant to the Kyoto Protocol and assists project owners in the buying and selling of carbon credits globally. The Company's products are sold to power plants, refineries, chemical plants, cement plants and other industries, including federal and state governmental agencies.
Safe Harbor Statement
This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date.
For further information, please contact:
Cemtrex Inc.
19 Engineers Lane, Farmingdale, NY 11735
URL: ; Email: Email
(516) 816-1400
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