Sigma Labs Enters Into Long Term Commercial Agreement With Major European OEM for PrintRite3D®
SANTA FE, N.M., Jan. 19, 2017 (GLOBE NEWSWIRE) -- Sigma Labs, Inc. (OTCQB:SGLB) (“Sigma Labs” or the “Company”), a provider of quality assurance software under the PrintRite3D® brand, today announced that it has entered into a long term non-exclusive commercial agreement with a leading European provider of cutting-edge products for additive manufacturing (“AM”) to join Sigma Labs’ previously-announced OEM Partner Program. Under the multi-year agreement – anticipated to be worth up to $6 million over its duration – this undisclosed OEM will embed and resell Sigma’s PrintRite3D® software within its AM equipment. Additional terms were not disclosed.
“We are excited to have such a highly-regarded company, which cannot be named due to competitive reasons, be an OEM partner going forward,” said Mark Cola, President and CEO of Sigma Labs. “Building strategic relationships with equipment OEMs has always been a key element of Sigma Labs’ growth strategy – enabling our software to be embedded in AM machines as a salient feature from the very beginning. As part of this agreement, our partner will be able to provide the full power of Sigma Labs’ PrintRite3D® capabilities to its customers, ensuring they can maximize the benefits of In-Process Quality Assurance™ (IPQA®) during additive manufacturing – which should increase production yields, process reliability, and part quality. The agreement is an important milestone for Sigma Labs as we build alliances to better serve the burgeoning AM industry and bolster our long-term growth trajectory.”
About Sigma Labs, Inc.
Sigma Labs, Inc. is a provider of quality assurance software under the PrintRite3D® brand and a developer of advanced, in-process, non-destructive quality assurance software for commercial firms worldwide seeking productive solutions for advanced manufacturing. For more information please visit us at www.sigmalabsinc.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often contain words such as "expects," "anticipates," "intends," "believes" or "will." These forward-looking statements are subject to a number of risks, uncertainties and assumptions that could adversely affect us, including the risks set forth in Sigma Labs' most recent annual report on Form 10-K. The forward-looking statements in this press release are made only as of the date of this press release. Sigma Labs undertakes no obligation to update any of these forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact: Chris Witty firstname.lastname@example.org 646-438-9385Source: Sigma Labs, Inc.
Released January 19, 2017