Micron Solutions (NYSE:MICR) said yesterday that it received purchase orders from an unnamed medtech company worth nearly $4 million, its largest-ever order.
The mystery organization was referred to as a “leading medical technology company” in a release, as it put $3.7 million toward a contract with Fitchburg, Mass.-based Micron Solutions, which produces medical device components and assemblies that require precision machining and injection molding.
In the release, Micron said its strategy for growth is to build a best-in-class contract manufacturer with focus on plastic injection molding, plus medical devices and components that require precision machining.
“Choosing Micron benefits our new customer by consolidating multiple suppliers into one, reducing their internal costs in supplier management,” CEO Bill Laursen said in prepared remarks. “We were chosen in part because we provide cost savings due to our vertically integrated molding, machining and assembly operations. This is a watershed moment for Micron as we look to leverage the talents of our outstanding group of engineers who bring the highest level of innovation to our customers. This is the first of many new customers our team expects to bring to Micron Products over the coming quarters. The new management team at Micron has a long history of success delivering the best quality products and service to our customers. Industry experience and long-term relationships, coupled with best in class manufacturing practices, sets the foundation for continued sales growth, with the goal of creating significant value for our customers and shareholders.”
MICR shares were up 4.2% to $2.49 in early-afternoon trading.
