MIND Technology and PGS Enter into Supply Agreement
Rhea-AI Summary
MIND Technology, Inc. (NASDAQ: MIND) announced a Master Supply Agreement with PGS for source controllers and related services. This agreement signals an expansion of their longstanding relationship, with MIND expecting to provide advanced source controller technology over the coming years. Currently, MIND's products include the GunLink and SourceLink systems utilized in PGS's fleet. MIND operates globally, providing technological solutions to various industries including defense and marine technology.
Positive
- New Master Supply Agreement with PGS enhances long-term relationship.
- Expected provision of advanced source controller technology over the coming years.
Negative
- None.
News Market Reaction
On the day this news was published, MIND declined 1.75%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
THE WOODLANDS, Texas, March 30, 2021 /PRNewswire/ -- MIND Technology, Inc. (NASDAQ: MIND) ("MIND" or "the Company") today announced that its Seamap unit has entered into a Master Supply Agreement with PGS for the provision of an unspecified quantity of source controllers and related services over an indefinite delivery period.
Guy Malden, MIND Co-CEO, commented, "We are pleased to expand our long-standing relationship with PGS. Under this new framework agreement, we expect to provide advanced source controller technology over the coming years, adding to the GunLink and SourceLink products currently deployed in the PGS fleet."
About MIND Technology
MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. MIND's worldwide Marine Technology Products segment, which includes its Seamap and Klein Marine Systems units, designs, manufactures and sells specialized, high performance, marine sonar and seismic equipment.
Contacts: | Rob Capps, Co-CEO |
MIND Technology, Inc. | |
936-291-2277 | |
Ken Dennard / Zach Vaughan | |
Dennard Lascar Investor Relations | |
713-529-6600 | |
View original content:http://www.prnewswire.com/news-releases/mind-technology-and-pgs-enter-into-supply-agreement-301258948.html
SOURCE MIND Technology, Inc.
FAQ
What is the significance of MIND's new agreement with PGS?
What products are included in the supply agreement with PGS?
When was MIND Technology's latest press release issued?
What is MIND Technology's stock symbol?
