Cemtrex, a trusted name in the manufacture of sophisticated emission monitoring instruments, gas monitoring/analyzing devices, and process analyzers, both by government agencies and private sector businesses like refineries, power plants, and other types of plants (chemical, cement, etc.), reported signing a key Representative Agreement today with striking market parallel and global leader in analyzers/process control automation solutions for the petroleum industry, Modcon Systems.
The competencies in analytical device technology shared by both companies is a natural partnership vector and the burgeoning NA oil/gas space, which is particularly receptive to Modcon’s advanced NIR (near infrared spectrometry) and NMR (magnetic resonance) analyzer systems, is a huge target that will be easy to hit. The capacity of such systems for oil refinery operators to provide online real-time situational awareness and control over critical production architecture is a real game changer and it is anticipated that 300 or so domestic refining operations will modernize along these lines by 2015 alone. This is a big, juicy market for the two companies to cooperatively exploit, especially in the Gulf region, where cost-effective crude production and an open refinery market combine to form choice margins.
Operators can reduce cost, maximize production, and eliminate potentially dangerous/costly mishaps, all while keeping a discrete eye on the emission fundamentals. Cemtrex also has a very strong hand within the petroleum industry, and the company is doing business with some of the largest oil and gas firms out there today. That’s what makes this such a sweet deal for shareholders, as the obvious vertical synergy offers tantalizing return potential moving forward.
VP at CTEI, Ravi Narayan, emphasized the $200M projected market over the next few years for cutting-edge, online, multiplexed fiber optic NIR/NMR solutions engineered for the extremely broad refining market, which contains a slew of processing, distillation, and blending operations, all of whom can benefit tremendously from the combined Monitoring Instruments Products portfolio these two companies can offer. Such solutions can start paying for themselves in six months or less given current oil prices and CTEI is eager to capture more of this attractive market by joining their vast systems expertise with Modcon’s state-of-the-art NIR/NMR technologies.
CEO of Modcon, Greg Shahnosky, echoed the sentiments of his colleague at CTEI roundly and reminded investors that these breakthrough NIR and NMR systems have already been put through intensive field work at multiple refineries in Russia, Israel, and other oil-rich global locales. Shahnosky offered markets a clear, bold vision of successfully cutting deep swathes into the largely untapped North American market. The force applied through the partnering with CTEI should prove sufficient to kick the door down and it is likely the two will be storming the daily-expanding NA hydrocarbon sector in short order.
For more information, visit www.Cemtrex.com
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