Represents First Phase of Multi-Year Agreement to Build and Equip Four Service Bureaus with up to 1,000 High-Precision 3D Printers
Minneapolis & Rehovot, Israel; July 23, 2015 — Stratasys Ltd. (NASDAQ: SSYS), a leading global provider of 3D printing and additive manufacturing solutions, today announced Kangshuo Group Co. Ltd is opening the largest 3D printing service bureau network dedicated to serving China’s domestic market with up to 1,000 high precision 3D printers from the company’s Solidscape®, Inc. subsidiary. The 80,000 square-foot multi-story facility in Foshan City, Guangdong Province, P.R. China represents the first phase of a multi-year agreement to build and equip four service bureaus.
This far-reaching agreement includes the creation of 100 Innovation and Entrepreneurship Centers across China, each featuring Stratasys’ Solidscape high precision 3D printers. Also included in the comprehensive agreement is a plan to supply China’s 3D printing education initiative with large quantities of Solidscape 3D printers. Finally, the facility features a full 21,000 square foot assembly factory where Kangshuo will assemble-to-order Solidscape 3D printers for sale in the domestic Chinese market.
This marks the most comprehensive 3D printing collaboration to date in China for Solidscape, and is aimed to help drive significant revenue growth for US-based Solidscape.
“This is an historic day for modern China. We are very excited about opening the largest 3D printing service bureau in China. We believe that we can now offer our customers the best possible products for the jewelry sector and help drive innovation in China,” stated Kangshuo President Bin Liu. “For us, the clear choice was Solidscape. It is the beginning of a long and prosperous journey together.”
Underpinning future success of the collaboration is the commitment by the Chinese government to embrace 3D printing as a driving force in China’s future manufacturing development. “3D printing technology is very important – we need to have this new industrialization as soon as possible,” according to President Xi Jinping of China. Both the Ministry of Industry and Information Technology and the Ministry of Education have developed aggressive, multi-decade plans for growing and employing a highly skilled workforce. The Foshan City initiative is one of the top five enterprises highlighted by the District government office.
“We believe our collaboration is the driving force in creating a new 3D printing ecosystem in China,” said Fabio Esposito, President of Solidscape, a Stratasys company. “With Stratasys’ Solidscape 3D printers, Kangshuo is creating China’s largest Custom 3D Printing Manufacturing network, building an assembly factory for equipping China’s emerging 3D printing markets, opening Innovation and Entrepreneurship Centers across China and working with the government on educating a highly-skilled workforce. It is an amazing example of global cooperation. We are honored to have such a strong ally as Kangshuo.”
Kangshuo exclusively chose Solidscape high precision 3D printers since these 3D printers produce the most accurate, detailed models with the industry’s highest quality surface finish – all critical for the rigorous demands of custom manufacturing applications. The combination of a high precision 3D printer capable of a 6 micron resolution with wax materials enables custom manufacturers to design and 3D print models with complex, organic geometries that are 100% castable in any metal.
About Solidscape®, Inc. Company:
Solidscape®, Inc., a wholly owned subsidiary of Stratasys, Inc. (NASDAQ: SSYS), is the leader in high precision 3D printers for manufacturing applications. Over the years, Solidscape has set the bar for the highest standards in surface finish, accuracy and material castability. Solidscape delivers 3D printers for advanced manufacturing so customers can create wax patterns to be cast in metal or used for mold making (RTV) applications, ideal for industries including aerospace, consumer products, education, defense, industrial products, jewelry and medical devices and advanced research. Learn more at www.solid-scape.com.
Cautionary Statement Regarding Forward-Looking Statements
The statements in this press release relating to Stratasys’ expectations of the benefits that it will receive from its collaboration with Kangshuo Group Co. Ltd, the expected results of this collaboration and the establishment or the 3D printing service bureau network, are forward-looking statements reflecting management's current expectations and beliefs. These forward-looking statements are based on current information that is, by its nature, subject to rapid and even abrupt change. Due to risks and uncertainties associated with Stratasys' business, actual results could differ materially from those projected or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that the benefits that Stratasys expects from the collaboration will not materialize, or could be less, than Stratasys currently expects, due to technical or other unforeseen reasons; the risk that the Chinese market will not perceive the benefits that the collaboration and/or the establishment of the 3D printing service bureau network the same way Stratasys perceives them; and other risk factors more fully explained under the caption “Risk Factors” in Stratasys' most recent Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC) on March 3, 2015. Stratasys is under no obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by the rules and regulations of the SEC.
Stratasys Ltd. (NASDAQ:SSYS), headquartered in Minneapolis, Minnesota and Rehovot, Israel, is a leading global provider of 3D printing and additive manufacturing solutions. The company's patented FDM® and PolyJet™ 3D Printing technologies produce prototypes and manufactured goods directly from 3D CAD files or other 3D content. Systems include 3D printers for idea development, prototyping and direct digital manufacturing. Stratasys subsidiaries include MakerBot and Solidscape, and the company operates the digital parts manufacturing service, Stratasys Direct Manufacturing. Stratasys has more than 3,000 employees, holds over 800 granted or pending additive manufacturing patents globally, and has received more than 30 awards for its technology and leadership. Online at: www.stratasys.com or http://blog.stratasys.com.
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