Cemtrex Buys Griffin Filters
Cemtrex’s MIP Ducon division sells process and air emissions monitoring equipment. It plans to build its business through acquisitions. The Griffin purchase was funded by the issuance of Cemtrex common stock and a long-term note.
Farmingdale, NY 3/6/07; 5/2/07—Cemtrex, a provider of continuous emissions monitoring systems, has acquired Griffin Filters. Griffin Filters designs, manufactures and supplies air filtration and environmental control systems, including fabric filters. “Griffin Filters has been a leading supplier of dust collection systems for the past forty years with hundreds of installations nationwide,” stated Cemtrex President and CEO Aron Govil. The acquisition marks Cemtrex’s entry into this market area and its plans to leverage Griffin’s sales network. As a result of the acquisition, Cemtrex now has annual revenues of $6 million.
