Cemtrex Receives $1.5 Million Upgrade Order for Vicon Valerus System from Correctional Facility in Maryland
August 29 2023 - 8:30AM
Cemtrex Inc. (Nasdaq: CETX, CETXP), an advanced security
technology and industrial services company, has received a $1.5
million order through its Vicon Industries subsidiary for a large
correctional facility, and current end-customer, in Maryland to
upgrade its security technology system with new Valerus software
and hardware.
The enterprise-class system installation
includes Vicon’s state-of-the-art end-to-end Valerus video
surveillance security system and Roughneck AI cameras, as well as
servers to support a large increase in storage hardware. The order
is expected to be fulfilled in the third quarter of the calendar
year. Details of the customer were not provided due to
confidentiality agreements in place.
“Vicon continues to expand rapidly on strong
demand and sales execution, leveraging its advanced surveillance
technology to attract customers,” said Saagar Govil, Chairman and
CEO of Cemtrex. “Multiple large orders are demonstrating Vicon’s
ability to address escalating demand as end-users seek a reliable
source of video surveillance and access control technologies fit
for today’s highly dynamic environment. Vicon offers customers a
complete solution with the ability to monitor license plates (LPR),
access control and video management, all from Valerus. Its
sophisticated – yet simple and flexible – interface helps users
monitor and investigate video, audio, alarms, access control,
license plate recognition and system health — all without changing
windows or systems.
“The escalating need for technology solutions
within correctional facilities has become evident in recent years,
transforming the way these institutions operate and interact with
their environments. With older systems needing replacement,
technology systems like Valerus offer innovative tools for
enhancing security, communication, and operations. Our correctional
customers are increasingly recognizing the urgency of embracing
technology to address complex issues and create safer, more
effective environments within their facilities. With Vicon’s 55
years of experience and best-in-class offering, we expect
additional Vicon orders ahead, driving revenue and momentum,”
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 Relations
Chris Tyson
Executive Vice President – MZ North America
Direct: 949-491-8235
CETX@mzgroup.us
www.mzgroup.us
Cemtrex (NASDAQ:CETX)
Historical Stock Chart
From Oct 2024 to Nov 2024
Cemtrex (NASDAQ:CETX)
Historical Stock Chart
From Nov 2023 to Nov 2024