Sigma Labs (SGLB) Stock Runs For The Top On New Contract Award

Sigma Labs SGLB Stock News

Sigma Labs Inc. (NASDAQ: SGLB) is running for the top in the market this morning, and for good reason. The company announced that it has been awarded a new contract by Mitsubishi. Here’s what’s going on:

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SGLB Stock Rockets On Contract Award

In the press release, Sigma Labs said that it has been awarded a new contract by Mitsubishi Heavy Industries. The contract surrounds the implementation of PrintRite3D in-process quality assurance software.

In the release, SGLB said that the PrintRite3D system will be installed on a laser powder bed fusion system for the development and qualifiecation of MHI additive manufacturing production processes.

The company went on to explain that Mitsubishi Heavy Industries works produces various products including aerospace components, air conditioners, forklift trucks, hydraulic equipment, machine tools, missiles, power generation equipment, printing machines, and much more.

In a statement, Mark Ruport, CEO at SGLB, had the following to offer:

The increasing number of customers pursing implementation of PrintRite3D is a testament to the growing industry need for in-process quality assurance. We look forward to working with this well-respected industry leader known for their innovative and integrated technology to demonstrate the benefits of PrintRite3D, reduce risk and ensure quality of their additive manufacturing operations.

This News Is Huge

The news released by Sigma Labs today proved to be overwhelmingly positive. The fact of the matter is that Mitsubishi Heavy Industries is a massive company with a strong downline of customers. To have a huge company like this take interest in Sigma Labs products is great news.

After all, we tend to live in a follow the leader society. With MHI using SGLB products, others in the space will likely want to do the same, leading to potentially strong revenue growth ahead. All in all SGLB stock is one to watch.

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