LaserBond has signed its second Technology License Agreement, this time with a UK based multinational engineering company. The agreement involves the supply of a LaserBond® designed and constructed laser cladding system, ongoing training and support and consumable sales. This agreement will yield an increase in revenue this financial year by more than 10% year on year with associated overhead recovery and increase in profits. Revenue in future years will include ongoing royalty fees over a seven year license term as well as consumable sales. This is in addition to the ongoing revenue growth expected from the Services & Products Divisions. Whilst this is a single license for UK operations for particular applications, the licensee company has several engineering divisions and supplies integrated equipment solutions to a diverse range of capital intensive industries globally. It has manufacturing and sales operations in each of the major continents. It is expected the solutions provided by the LaserBond® technology will have many applications in other areas of the licensee's product portfolio and may generate future Technology Division sales.