The Knowledge Base: The Era of Advanced Packaging
Standard of Excellence: Finding and Developing Future Leaders in Manufacturing
Global Sourcing Spotlight: Navigating the Variables of Holiday Schedules in Global Sourcing
Cemtrex Completes Sale of EMS Subsidiary, ROB Cemtrex
August 23, 2019 | Globe NewswireEstimated reading time: Less than a minute
Cemtrex Inc. has completed the sale of its EMS business, ROB Cemtrex. Pursuant to the terms of the transaction Cemtrex received a total consideration of €6,367,199 for the sale of the business.
ROB Cemtrex provides end to end electronic manufacturing services, which includes product design and sustaining engineering services, printed circuit board assembly and production, cabling and wire harnessing, systems integration, comprehensive testing services and completely assembled electronic products. The business consists of approximately 250 employees with operations based in Germany and Romania.
CEO and Chairman, Saagar Govil, commented, “The sale of ROB represents an important step in successfully delivering our strategy. We felt the timing was right with the outlook in the Eurozone being tepid for years to come, and other more lucrative opportunities here domestically. With the sale completed, Cemtrex will continue to utilize its resources to focus on investing in opportunities with attractive long term growth that leverage the Company’s assets and expertise.”
About Cemtrex
Cemtrex, Inc. (CETX) is a diversified technology company that's driving innovation in a wide range of sectors, including smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions, and intelligent security systems.
Share on:
Suggested Items
Green Tech Accelerator: Tackling Water Resource Challenges and Unlocking Renewable Energy Opportunities
12/26/2024 | BUSINESS WIREGreen Tech Accelerator collaborates with startups, offering courses, mentorship, and international market strategies to implement and validate carbon reduction solutions. This Taiwanese initiative empowers SMEs to progress toward net-zero emissions.
Compal Adopts Intel Tech for Innovative Liquid Cooling Solutions
12/26/2024 | Compal Electronics Inc.Compal Electronics, a leading server solution provider, announced today its collaboration with Intel, BP Castrol (Castrol), JWS, and Priver to launch a groundbreaking liquid cooling solution based on Intel’s Targeted Flow technology. Designed specifically for high-density servers and AI data centers, this innovative solution aims to drive the industry toward a more efficient and sustainable future.
Biden-Harris Administration Announces CHIPS Incentives Award with Amkor Technology to Bring End-to-End Chip Production to the U.S.
12/25/2024 | U.S. Department of CommerceThe Biden-Harris Administration announced that the U.S. Department of Commerce awarded Amkor Technology Arizona, Inc., a subsidiary of Amkor Technology, Inc., up to $407 million in direct funding under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication Facilities.
SMT Mounter Market Size Projected to Reach $5.06 Billion by 2030
12/23/2024 | openPRAccording to the new market research report "Global SMT (Surface-mount Technology) Mounter Market Report 2024-2030", published by QYResearch, the global SMT (Surface-mount Technology) Mounter market size is projected to reach USD 5.06 billion by 2030, at a CAGR of 4.7% during the forecast period.
Apple’s Vision Pro Reshapes the VR/MR Landscape, Driving Applications from Entertainment to Productivity Tools
12/23/2024 | TrendForceTrendForce’s latest report estimates that global shipments of VR and MR headsets are expected to reach approximately 9.6 million units in 2024, representing a YoY increase of 8.8%.