Cemtrex’s Advanced Industrial Services $(AIS)$ subsidiary has acquired all the assets of Richland Industries, an industrial services and fabrication company based in Tennessee. As part of the deal, AIS established a new subsidiary, AIS Tennessee, to acquire and operate Richland’s business and primary facility. The $5.5 million purchase, financed through loans from Fulton Bank, included business assets, property, and the assumption of certain operating liabilities. This expansion marks AIS’s entry into the Southeast, a region noted for rapid industrial growth, and is expected to contribute approximately $8 to $10 million in revenue over the next twelve months. No equity was issued in the transaction.

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