News and Announcements
Aurora Labs Shares Rise After Deal Signed with German Distribution Deal
- Published May 05, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Aurora Lab’s (ASX:A3D) shares were last trading 17.4% higher after signing a distribution deal to sell its small format 3D printers in Germany.
KEY TAKEAWAYS:
- The agreement has been signed with Frank Heimbert Kulke trading as 3D Mectronic, giving a sole license to operate in Germany and a non-exclusive licence to operate in the rest of Europe.
- 3D Mectronic has been active in the European 3D printing sector for 19 years, offering a complete range of 3D printing technologies.
- The distributor has already started showing the printer to potential customers in a number of European countries.
- 3D Mectronic will be installing the printer in their showroom in May and using the machine for demonstrations and to print samples for distribution to potential customers. It is expected that sales of the small format 3D printer will follow once customers have had a chance to review these samples.
- Perth-based Aurora Labs garnered investor attention after developing a range of metal 3D printers that are cheaper than its competitors.
Perth-based Aurora Labs garnered investor attention after developing a range of metal 3D printers that are cheaper than its competitors.
The company burst into investors’ consciousness late last year when the stock, which listed at $0.20, skyrocketed to a peak of $5.35, giving Aurora a market capitalisation of nearly $300 million.
The focus of the exuberance is its large-format 3D metal printer prototype that can be used to make metal parts for a variety of industrial applications.
Interestingly, Aurora is in discussions with some of the world’s biggest mining companies to reduce their inventories of spare parts through the use of the company’s 3D metal printer.
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