© ljupco smokovski dreamstime.com Electronics Production | September 04, 2019
Cemtrex completes the sale of its EMS subsidiary
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 EUR 6.36 million 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, testing services and completely assembled electronic products. The business consists of approximately 250 employees with operations based in Germany and Romania. “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,” says Cemtrex’s CEO and Chairman, Saagar Govil.