Today before the
opening bell, Puget Technologies announced that it and international 3D printer
manufacturer Weistek have signed an updated memorandum of understanding (MOU).
The updated MOU strengthens both companies’ collaborative efforts for
intensified domestic market distribution and services.
President and CEO of
Puget Technologies Ron Leyland said, “A definitive contract with Weistek is in
the works which will solidify our strategy to deliver the highest quality 3D
consumer market technology.” He added, “Our engineering team is focusing on
developing a user-friendly platform that will present an enjoyable and
successful experience for consumers and enthusiasts.”
The MOU features
additional terms that are specific to the joint venture between Puget
Technologies and Weistek for development of new product and software
enhancements for enhanced user experiences. Those efforts also include
improvement of sales and support channels. The company noted that it was not
disclosing the terms of the agreement at the time of this announcement.
Puget Technologies
plans to break into the U.S. 3D printer market in the next fiscal quarter,
offering end users a highly affordable but high-performance printer and related
production parts. Printer and related software enhancements are expected to be
completed in the next few months, and new features will include an enhanced
“out-of-box experience” for all categories of consumers.
Public demand for
the printers is growing, as the 3D printer market is slated to approach $4
billion next year. With its agreement with Weistek in place, Puget Technologies
will be in a position to start growing to new levels of market competitiveness.
For more
information, visit: www.pugettechinc.com
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