Micron Solutions lands largest-ever contract, at $3.7M
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Micron Solutions' facility in Fitchburg
Fitchburg contract manufacturer Micron Solutions has scored the largest single order in the company’s history totaling $3.7 million.
The company disclosed little about the new customer, saying only it was a leading medical technology company.
Based on 2018 sales alone, the extra revenue would represent a 19% increase.
Shares of the company’s stock were trading on the New York Stock Exchange for about $2.90 at Wednesday's open, up more than 20% from Tuesday's closing price of $2.39.
Choosing Micron benefits this new unnamed customer by consolidating multiple suppliers into one and reducing costs, CEO Bill Laursen said in a statement.
“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,” Lauren said. “This is the first of many new customers our team expects to bring to Micron Products over the coming quarters.”
The company has made several recent changes it believes will help drive growth in the near future, including the recent hiring of Chief Financial Officer Wayne Coll, the sale of unused buildings and a reshuffling of directors.
Last week, the company said its plan to remain listed with the New York Stock Exchange was accepted, giving Micron status on the exchange until December 2020.
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