Workflow
Cemtrex's Vicon Industries Secures $10.4 Million Valerus Expansion Order from State Government Corrections Customer
CETXCemtrex(CETX) GlobeNewswire News Room·2024-12-16 12:30

Core Insights - Cemtrex Inc.'s subsidiary Vicon Industries received a record order of 10.4millionforastategovernmentcorrectionsfacility,markingthelargestsingleorderinVicon′s57−yearhistory[1][2][3]−TheorderwillenhancetheValerussurveillancesecuritysystemwithadditionalhardwareandisexpectedtobefulfilledinthesecondfiscalquarterof2025[2][4]−ThedemandforVicon′sadvancedsurveillancetechnologyisincreasing,drivenbytheneedforreliablevideosurveillanceandaccesscontrolsolutionsinadynamicenvironment[3][4]CompanyOverview−CemtrexInc.operatesthroughtwosubsidiaries:ViconIndustriesInc.andAdvancedIndustrialServicesInc.[5]−ViconIndustriesspecializesinadvancedsecurityandsurveillancetechnology,providingcomprehensivesecuritysolutionsforvarioussectorsincludingcorrections,schools,andmunicipalities[6]MarketPotential−Thevideosurveillancemarketisprojectedtogrowto10.4 million for a state government corrections facility, marking the largest single order in Vicon's 57-year history [1][2][3] - The order will enhance the Valerus surveillance security system with additional hardware and is expected to be fulfilled in the second fiscal quarter of 2025 [2][4] - The demand for Vicon's advanced surveillance technology is increasing, driven by the need for reliable video surveillance and access control solutions in a dynamic environment [3][4] Company Overview - Cemtrex Inc. operates through two subsidiaries: Vicon Industries Inc. and Advanced Industrial Services Inc. [5] - Vicon Industries specializes in advanced security and surveillance technology, providing comprehensive security solutions for various sectors including corrections, schools, and municipalities [6] Market Potential - The video surveillance market is projected to grow to 88.71 billion by 2030, indicating significant growth potential for Vicon [4] - The increasing demand for security solutions across various sectors is expected to drive orders and revenue momentum for the company [4]