Sigma Labs Expands Reach In Asia Metal AM Market In South Korea And China
June 06 2017 - 8:00AM
Sigma Labs, Inc. (NASDAQ:SGLB) (“Sigma Labs” or the “Company”), a
provider of quality assurance software under the PrintRite3D®
brand, today announced that the Company has entered into agreements
with two additional, non-exclusive sales agents in the Asia Pacific
region, driven by strong customer interest in the region for
PrintRite3D®. One such agent, Enervision Inc., will target the high
growth expectations in the South Korean AM market, driven by the
Korean government's announcement in April 2017 of a $37 million
investment to accelerate the development of 3D printing across the
country. The nation’s Ministry of Science, ICT and Future Planning
will spend much of the budget on various 3D printing businesses to
strengthen South Korea’s competitiveness and ability to meet
demand.1 Sigma Labs' other new sales agent, Beijing Yida Sifang
Technology Co., Ltd, a leading metal AM reseller with multiple
offices in China, will assist Sigma Labs with its expansion into
the China AM market. The Company will pay the sales agents a
commission tied to revenue generated by the Company through
customers identified by the sales agents.
The addition of two new agents in the
Asia-Pacific region follows Sigma Labs’ April 2016 announcement of
an agreement with Creatz3D Pte Ltd to be the non-exclusive sales
and service agent for Sigma Labs in Singapore, Indonesia and
Vietnam. Sigma Labs is exploring additional opportunities to engage
agents throughout Asia-Pacific region.
“We are pleased to progress in expanding our
footprint in the Asia-Pacific region with two new sales agents in
connection with our PrintRite3D® technology as a result of
anticipated interest by new regional customers for PrintRite3D®.
The growth of AM is international in scope and we are pleased to
position Sigma Labs to capitalize on this growth with two new
prominent agents,” said Mark Cola, President and CEO of Sigma
Labs.
About Enervision Inc.Enervision
Inc. is a private company dedicated to the distribution of 3D
printing and additive manufacturing solutions in Korea. Enervision
provides its services in many sectors, including, but not limited
to, aerospace, automotive, medical, and industrial products.
Enervision provides comprehensive customer support together with
machine software and training courses.
About Beijing Yida Sifang Information
Technology Co., Ltd.Beijing Yida Sifang Information
Technology Co., Ltd. ("Beijing Yida"), is a leading provider of 3D
product design to 3D printing (3D CAD to 3DP) innovative solutions.
Since its inception in 2004, Beijing Yida has provided
R&D innovation ecosystems to enterprises, helping customers to
meet the challenges of market competition complexity, innovate and
create new opportunities to help customers maintain a competitive
advantage.
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.
Forward-Looking StatementsThis
press release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended
(which Sections were adopted as part of the Private Securities
Litigation Reform Act of 1995). Statements preceded by, followed by
or that otherwise include the words “believe,” “anticipate,”
“estimate,” “expect,” “intend,” “plan,” “project,” “prospects,”
“outlook,” and similar words or expressions, or future or
conditional verbs such as “will,” “should,” “would,” “may,” and
“could” are generally forward-looking in nature and not historical
facts. These forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the
Company's actual results, performance or achievements to be
materially different from any anticipated results, performance or
achievements. The Company disclaims any intention to, and
undertakes no obligation to, revise any forward-looking statements,
whether as a result of new information, a future event, or
otherwise. For additional risks and uncertainties that could impact
the Company’s forward-looking statements, please see the Company’s
Annual Report on Form 10-K (including but not limited to the
discussion under “Risk Factors” therein) filed with the SEC on
March 31, 2017 and which may be viewed at http://www.sec.gov.
1
http://www.tctmagazine.com/3D-printing-news/south-korea-invest-37-million-3d-printing-2017/
Investor Relations Contact:
Bret Shapiro
Managing Director
CORE IR
561-479-8566
brets@coreir.com
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