Sigma Labs, Inc. Enters Additive Manufacturing Space And Addresses Industry Needs For Precision Parts And Specialty Services Sigma Labs' PrintRite3D® Technology Combined With EOS GmbH Advanced 3D Metal Printer Creates Unique Industry-Wide Manufacturing and Process Development Capability
SANTA FE, N.M., June 19, 2014 /PRNewswire/ -- Sigma Labs, Inc. (OTCBB: SGLB), a developer of advanced, in process, non-destructive quality inspection systems for metal-based additive manufacturing and other advanced manufacturing technologies, today announced that it has acquired the latest generation Model 290 3D metal printer from Electro Optical Systems (EOS) GmbH of Krailling, Germany. Plans are in place to install the machine at Sigma Labs' facilities in Santa Fe, New Mexico and couple it with all of Sigma Labs' proprietary quality inspection systems. This is Sigma Labs' initial step towards the establishment of a New Mexico-based facility to manufacture precision parts utilizing all of Sigma Labs' 3D quality inspection systems.
Mark Cola, President and Chief Executive Officer of Sigma Labs, stated that, "With the acquisition of this state-of-the-art 3D metal printer coupled with our PrintRite3D® technology, Sigma Labs now enters a new manufacturing phase, and enhances our offerings to the additive manufacturing marketplace for high-end, precision metal parts. Customers will be able to contract with us to manufacture on our equipment, to their specifications, and take full advantage of our unique PrintRite3D® on-machine quality assurance capability. This will be invaluable in helping customers to reduce process development times and get parts into production faster. Once parts are in production, PrintRite3D® will continue to contribute to their bottom line by reducing inspection costs and part rejection costs."
The new 3D printer will support current efforts underway at Sigma Labs for the commercial deployment of PrintRite3D® product offerings. Mr. Cola further explained that, "Sigma Labs remains committed to the successful commercial launch of PrintRite3D® INSPECT™ and PrintRite3D® DEFORM™. This advanced 3D printer supports those efforts by giving us an in-house platform to showcase our product offerings. The timeline for the machine deployment aligns well with our planned launch of PrintRite3D® INSPECT™ and PrintRite3D® DEFORM™ over the next 6 to 9 months, respectively. Finally, we expect that this machine will not only provide us with a new and important revenue stream through contract manufacturing, but it will also strengthen our various product offerings to the broader AM marketplace."
About Sigma Labs, Inc.
Sigma Labs, Inc., through its wholly-owned subsidiary B6 Sigma, Inc., develops and engineers advanced, in-process, non-destructive quality inspection systems for commercial firms worldwide seeking productive solutions for metal-based additive manufacturing or 3D printing, and other advanced manufacturing technologies. 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." 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.