FOM Technologies has received an order for advanced equipment from a customer within a new industrial application area that the company has not previously served.
FOM Technologies has had a strong strategic focus on building sales in new application areas. After a longer period of dialogue and pre-testing of FOM’s technology, an international customer has chosen to place an order for advanced equipment from FOM Technologies for near-term delivery.
For competitive reasons, FOM Technologies and the customer do not wish to disclose either the application area or the geographical location of the customer relationship. The order is at or above the level that FOM Technologies has typically announced order intake since the company’s listing. This order is not a guarantee of additional orders from the same customer, nor is it a guarantee of orders from other customers within a similar industrial application area.
The company’s strategic focus on selling to new industries also contributed to last year’s decision to expand the application scope of its technology to include the defense industry. Initially, this resulted in two contracts to deliver equipment for materials research within the defense sector. This later led to an order from a U.S. defense laboratory, marking the company’s fifth U.S. national laboratory customer and its first defense-focused national laboratory.