SANTA FE, N.M., Aug. 14, 2013 /PRNewswire/ -- Sigma Labs, Inc. (OTCBB: SGLB) announced today it has signed a Memorandum of Understanding (MOU) with Burke E. Porter Machinery, Inc. (www.bepco.com), a leading global supplier of advanced electrical, mechanical, and software machinery solutions for the automotive, energy, and general industrial sectors. The MOU sets forth the parties' preliminary intent to collaborate commercially and technically for the development and promotion of products related to metal-based additive manufacturing.
Mark Cola, President and Chief Executive Officer of Sigma Labs, commented that "We are extremely pleased to work with Burke E. Porter to explore ways in which we could accelerate the commercialization of technologies such as our PrintRite3D®." David DeBoer, President and Chief Executive Officer of Burke E. Porter, commented that "We believe there is great potential in the field of metal-based additive manufacturing. Further, we are excited about the prospects of combining Burke E. Porter's international footprint with Sigma Labs technologies to provide valuable solutions in this developing market space."
Pursuant to the MOU, neither Sigma Labs nor Burke E. Porter is obligated to take any action until mutually acceptable, definitive agreements have been executed by the parties. There is no assurance that the parties will be able to enter into the definitive agreements on the terms proposed, or on any other terms.
About Sigma Labs, Inc.
Sigma Labs, Inc. has two wholly-owned subsidiaries – B6 Sigma, Inc. and Sumner & Lawrence Limited (dba Sumner Associates). B6 Sigma develops precision manufacturing solutions and advanced materials technologies, as well as R&D solutions for first-tier integrators and other commercial firms worldwide. Sumner Associates provide high-level consultants to Federal government and commercial clients seeking productive solutions for emerging and strategic development technologies. Sigma Labs has current contracts with Federal government and private industry clients to provide high-level consultants and develop technologies from their conception through the design, building, and testing of prototype systems. For more information please visit us at www.sigmalabsinc.com.
About Burke E. Porter Machinery, Inc.
Burke E. Porter Machinery, Inc. is a global provider of customized industrial machinery in many markets including End of Line Production Testing, Laboratory Dynamometers, Gearbox Test Stands, and Niche Automated Assembly Systems. Burke E. Porter Machinery, Inc. has 10 wholly-owned locations and 10 agency-owned locations worldwide boasting unprecedented global service. For more information please visit us at www.bepco.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." Our forward-looking statements are subject to a number of risks, uncertainties and assumptions that could adversely affect us, including the risks set forth in our 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. 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.