Cemtrex Expanding Production Capacity for Mercury Monitors

Name	Symbol	Market	Type
Proshares S&P Kensho Cleantech ETF	AMEX:CTEX	AMEX	Exchange Traded Fund

Name

Symbol

Market

Type

Proshares S&P Kensho Cleantech ETF

AMEX:CTEX

AMEX

Exchange Traded Fund

	Price Change	% Change	Price	High Price	Low Price	Open Price	Traded	Last Trade
	0.983	4.19%	24.4537	23.52	23.52	23.52	14	01:00:00

Price Change

% Change

Price

High Price

Low Price

Open Price

Traded

Last Trade

0.983

4.19%

24.4537

23.52

01:00:00

Cemtrex Expanding Production Capacity for Mercury Monitors

09/11/2006 3:00pm

PR Newswire (US)

Proshares S&P Kensho Cle... (AMEX:CTEX)
Historical Stock Chart

From May 2019 to May 2024

Click Here for more Proshares S&P Kensho Cle... Charts.

FARMINGDALE, N.Y., Nov. 9 /PRNewswire-FirstCall/ -- Cemtrex Inc. (OTC: CTEX) announced today that it is expanding its current facility for assembling and production of its SM4 compliance mercury monitor in response to the increased number of inquiries and the anticipated demand for the monitor. Cemtrex plans to allocate greater manpower and facility area for assembly, warehousing and shipment of the SM4 monitor. "We are expanding our current capabilities so that we can ship over 15 monitors per month from our facility," said Mr. Aron Govil, CEO & President of Cemtrex. "We are also planning to stock an exhaustive spare parts inventory to provide same-day shipment and feel confident in meeting the increased demand in the coming years for our mercury monitors." On March 15, 2005, the EPA adopted the Clean Air Mercury Rule (CAMR), which progressively decreases mercury emissions nationally from coal-fired power plants. As a result, the mercury output will be reduced from 54 tons in 2004 to 38 tons per year by 2010 and 15 tons per year by 2018. The demand for mercury monitors is expected to rise substantially to accurately establish baseline emission levels necessary to develop a trading market. Federal enforceable penalties could be as high as $25,000 per day for each excess ounce of mercury emitted and not covered through a trading system. Thus many utilities seeking a continuous and reliable emissions reading could consider installing two monitors on the same stack, each costing $150,000, to save on fines. The EPA predicts that only 31 tons of mercury will be emitted in the first year although the allowance will be held for 38 tons thus allowing a bank to build up early on. The EPA model predicts the price of the first-year allowance of approximately $1450 per ounce and to steadily increase to about $3875 per ounce in 2030 (in 1999 dollars). Safe Harbor Statement This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. For further information, please contact: Cemtrex Inc. URL: http://www.cemtrex.com/ Email: Aron Govil, CEO @ (516) 816-1400 This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com/. DATASOURCE: Cemtrex Inc. CONTACT: Aron Govil, CEO, Cemtrex Inc., +1-516-816-1400, Email: Web Site: http://www.cemtrex.com/

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

CTEX Proshares S&P Kensho Cleantech ETF