Materialise NV (ADR)(NASDAQ:MTLS), a well-known brand that provides 3D surgical planning solutions to healthcare professionals, announced that it received Non Substantially Equivalent (NSE) letter from FDA regarding 510(k) submission of its X-ray knee guide system. Reports claim that this system is likely to be used as a surgical instrument, providing assistance in the knee replacement without CT or MRI.
The senior management team of the company is disappointed to get this notification and hopes to resolve issues at the earliest. According to Wilfried Vancraen, CEO & Founder, Materialise, it’s disappointing to get this feedback from FDA. It will affect the timing of marketing activities of this innovative solution, but the entire management team is confident of getting rid of it as soon as possible.
Air China & Boeing Concludes Talks On Six 777-300ERs Order
Meanwhile, Air China and Boeing Co (NYSE:BA) finalized their ongoing talks about the order of Six 777-300ER Jetliners. Reports claim that the estimated value of this order is around $2 billion, and will increase the widebody fleet of Air China in a significant manner.
Boeing’s senior management team has full confidence in 777-300ER as it has lived up to customers expectations over these years, and will surely help Air China achieve desired results as well. It’s a clear evidence of the decade-long relation between both the companies, and clears out the way for the more such diverse projects in the future.
General Electric Wins Contracts Worth $1 Billion
General Electric Company (NYSE:GE) has received a landmark contract valued at around $1 billion. The deal aims at construction, engineering, and provision of gas turbine related offerings for the power plant of Saudi Electricity Company. Reports suggest that the plant is scheduled to get completed in about 48 months and will carry out phosphate mining operations, which will further create additional jobs for Saudi people.
If everything goes as per plans, this power plant will supply power to over 500,000 Saudi homes in the near future. GE will continue to update its shareholders about the future advancements from time to time.
