Cemtrex Inc. announced on Tuesday that it has signed a memorandum of understanding (MOU) with RAE Company for Environmental Service division of Development Works Co., located in Riyadh, Kingdom of Saudi Arabia, for cooperatively addressing the short- and long-term needs for environmental control technologies and equipment within the Kingdom. Both parties agree to work cooperatively to identify, develop and execute environmental control projects across jurisdictional boundaries in the Kingdom. The specific project activities will start in September 2008. Cemtrex will provide all the necessary engineering and manufacturing services to design and commission the core component of hazardous waste facilities developed by RAE. RAE will provide necessary assistance to Cemtrex in the development of Clean Development Mechanism (CDM) projects to generate carbon credits in cooperation with RAE's sister companies. Cemtrex is engaged in manufacturing and selling the most advanced instruments for emission monitoring of particulate, opacity, mercury, sulfur dioxide, nitrogen oxides, etc. Cemtrex also provides turnkey services for carbon creation projects from abatement of greenhouse gases pursuant to the Kyoto Protocol and assists project owners in the selling of carbon credits globally. The company's products are sold to power plants, refineries, chemical plants, cement plants and other industries, including federal and state governmental agencies. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties.
