Definitive joint venture agreement in the works
FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--
Puget Technologies (OTCBB: PUGE) today announced an updated memorandum
of understanding (MOU) was signed with Weistek, the award-winning
international manufacturer of advanced 3D printers. The MOU is part of
an ongoing collaboration to intensify domestic market distribution and
services. It outlines additional terms between the two firms specific to
the joint effort to develop new product and software enhancements to
improve the consumer experience, including sales and support channels.
This step furthers Puget’s plan to enter the U.S. 3D printer market in
the coming fiscal quarter with an affordable high performance printer
and related production parts. The terms of the agreement are not being
disclosed at this time.
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
Improvements to the printer and related software are expected to near
completion in the coming months. New features will include an enhanced
“out-of-box experience” for all categories of consumers.
With the 3D printer market approaching $4 billion next year, public
demand for the products is expanding, with companies such as Stratasys
(SSYS), 3D Systems (DDD), and ExOne (XONE) vying for consumers’
attention. This agreement provides Puget with a foundation for
competitive operational advantages to help deliver on its forecasted
growth plans in 2014.
Details about Puget’s 3D printer division are found at http://www.pugettechinc.com.
About Puget Technologies(PUGE)
Puget Technologies is a publicly traded company on the OTCBB Market
stock exchange under the ticker symbol PUGE. Headquartered in Ft.
Lauderdale, Florida, Puget acquires, develops and sells leading edge
consumer oriented products ready for rapid commercialization. Much of
its resources are dedicated to research and development in order to
provide consumers with quality options while meeting the expectations of
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This news release contains forward-looking
information 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, including statements that include the words
"believes," "expects," "anticipates," or similar expressions. Such
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speaks as of the date of its distribution.
Ron Leyland, 954-332-2471
Source: Puget Technologies