Industrial Goods Stocks Embrace Technological Advances While Seeking Steady Streams of Revenue Generation for 2017

PALM BEACH, Florida, January 20, 2017 /PRNewswire/ --

Technology advancements are poised to revolutionize the manufacturing world in 2017 as the world turns the page towards a new era and companies aim to leverage enhanced technology into increased profits with efficiency on the upswing. Considering advancements in next-generation technologies are continuing to flourish, Companies seeking to explore innovation and opportunity include:  Cemtrex Inc. (NASDAQ: CETX), General Electric Company (NYSE: GE), Ballard Power Systems (NASDAQ: BLDP), Owens Corning (NYSE: OC) and Pentair plc (NYSE: PNR)

Cemtrex Inc. (NASDAQ: CETX), a world leading industrial and manufacturing solutions company announced today that the company is planning to set up a state of the art instruments & electronics manufacturing facility in India in order to serve the growing demand for process instrumentation in Asia and other parts of the world. Cemtrex believes that with access to low cost manufacturing the Company will be able to increase its market share, and maintain its competitive advantage as a low cost provider in the market.

Cemtrex plans to establish this facility in the next 12 months. The Company is also looking forward to taking advantage of the government incentives offered by the "Make in India" program which will offset some of the upfront costs for the Company. The Indian government has announced scheme of incentives for manufacturing of electronics including 25% capital subsidy for 10 years on capital expenditure, reimbursement of central and state duties, and income tax exemptions on setting up in special economic zones, assistance in skill development etc.   Read this and more news for Cemtrex at: http://marketnewsupdates.com/news/cetx.html

Cemtrex's Chairman and CEO, Saagar Govil, commented, "This new manufacturing facility will allow us to improve our profit margins on our IS 2500 emission monitor and increase market share through in-stock deliveries." Mr. Govil continued, "We have long term plans of building a suite of products and this manufacturing plant will set the stage for our long term success in markets globally."

In other Industrial Goods Sector developments in the market: 

General Electric Company (NYSE: GE) announced this week that it has secured more than $1.4 billion in orders from Iraq's Ministry of Electricity to set up power plants as well as provide technology upgrades and maintenance services. The announcement further strengthens GE's collaborations in Iraq to support the country's power infrastructure and meet the growing need for electricity. GE signed agreements that will add over two gigawatts (GW) of power and secure the delivery of ~1.75 GW of existing power to the national grid.