Sigma Labs Receives Contract From Alcoa for Advanced Manufacturing Process Development
SANTA FE, N.M., Aug. 3, 2011 /PRNewswire/ -- Sigma Labs, Inc. (OTCBB: SGLB.OB). Sigma Labs, Inc. announced today that it received a contract from Alcoa, Inc. (NYSE: AA) to demonstrate the feasibility of applying Sigma Labs' In-Process Quality Assurance (IPQA) technology to the welding of advanced aluminum structures. Sigma Labs expects this exploratory contract to generate up to $36,859 in revenues.
Vivek Dave, Executive Vice President of Sigma Labs, states, "Alcoa demands very high quality control requirements for materials joining. As such, they require advanced quality assurance technology like IPQA to make acceptable parts initially, and continuously, thereby avoiding costly inspection of joints. Sigma Labs was engaged by Alcoa because of our world-wide expertise in process monitoring." Mark Cola, President of Sigma Labs, states: "The IPQA preliminary trials with Alcoa showed that the technology performed remarkably well. The trials found subtle defects intentionally introduced into welds. Based on these results, Alcoa is considering further evaluation of IPQA's capabilities with other welding processes."
About Sigma Labs, Inc.
Sigma Labs, Inc. comprises leading scientists and engineers from Los Alamos National Laboratory with over 75 years of combined industrial R&D experience and has become a developer of manufacturing and materials technologies and an important R&D provider to first-tier integrators, including Boeing, Honeywell, and Pratt & Whitney, as well as to commercial firms within the United States and internationally. Sigma Labs currently has contracts with both the federal Government and private industry to develop technologies from their conception through the design, building, and testing of prototype systems. Sigma Labs is aggressively designing and developing innovative sensing, software products, materials technologies and other unique manufacturing quality assurance solutions for the federal Government and our commercial clients. Visit Sigma Labs at www.sigmalabsinc.com.
This news release contains forward-looking statements that reflect Management's current views about future events and financial performance. Forward-looking statements often contain words such as "expects," "anticipates," "intends," "believes" or "will." Our forward-looking statements are subject to a number of risks and uncertainties that may cause actual results and events to differ materially from those projected in the forward-looking statements. Risks and uncertainties that could adversely affect us include, without limitation, the loss of major customers, our failure to obtain new contracts, our inability to patent products or processes, our infringement of patents held by others, our inability to finance our business and the other risks and uncertainties that are discussed in our most recent filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our Report on Form 8-K that was filed in connection with the transaction we recently completed with B6 Sigma.. The forward-looking statements in this news release are made only as of the date of this news release. We undertake no obligation to update our forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Sigma Labs, Inc.
Released August 3, 2011