New Business Unit to be Led by Jonathan Cobb, Vice President and General Manager of 3D Printing
MINNEAPOLIS--(BUSINESS WIRE)--March 28, 2003-- Stratasys, Inc. (Nasdaq: SSYS), an industry leader in 3D printing and rapid prototyping solutions, announced today it has established the Dimension 3D Printing Group as a new Stratasys business unit. The new group will be led by Jonathan Cobb, vice president and general manager of 3D printing for the company.
Introduced by Stratasys in February 2002, Dimension(TM) is the
industry's first desktop 3D printer that sells for less than $30,000.
Dimension, which produces functional 3D models directly from CAD
(Computer-Aided-Design) systems, played a significant role in helping
Stratasys generate record revenues and operating profit for the year
ended Dec. 31, 2002.
The Dimension 3D Printing Group will focus its efforts on
continuing to gain market share in the growing low-end prototyping
marketplace by aggressively targeting new and existing vertical
industries through a fast-growing network of Dimension resellers.
Stratasys and the balance of its internal sales force will continue to
focus on the established high-performance rapid prototyping, rapid
tooling and rapid manufacturing markets.
"Dimension's success over the past year illustrates the
significant market opportunity for Stratasys in 3D printing," said
Scott Crump, chairman and chief executive officer for Stratasys. "By
creating a group charged solely with targeting and dominating this
growing market, we expect to capitalize fully on this opportunity. We
are excited to have someone of Jon's caliber and industry experience
leading this group.
"There are more than two million 3D solid CAD engineering 'seats'
now operating globally, but only 10,000 rapid prototyping systems in
the field," Crump continued. "With many designers now recognizing 3D
printing as an essential extension to their CAD systems due to its
cost effective price point, we believe that a substantial market
exists for Dimension."
Cobb has more than 20 years experience in CAD, peripheral printing
and plotting products, seven of which have been devoted to rapid
prototyping and 3D printing. Cobb will be responsible for driving
Dimension's product direction and marketing strategy, as well as
leading the new group's strategic partnering and sales channel
"Dimension is built on Stratasys' proven technology and is quickly
establishing a leadership position in the 3D printing market," Cobb
said. "I look forward to helping the company further expand this
Dimension is a business unit of Stratasys, Inc., based in
Minneapolis, Minn. The Dimension 3D Printer is a networked, desktop
modeling system that provides CAD (Computer-Aided-Design) users a
fast, office-friendly, low-cost alternative for building functional 3D
models. Dimension builds accurate models layer by layer using durable
ABS plastic, allowing users to not only evaluate design concepts, but
test 3D models for functionality, form and fit. As the first desktop
3D printer that sells for less than $30,000, Dimension incorporates
many key features found in modeling systems that cost tens of
thousands of dollars more. Dimension is located at 14950 Martin Drive,
Eden Prairie, Minnesota 55344-2020 and
About Stratasys, Inc.
Stratasys, Inc. is in the three-dimensional solid imaging business
as a manufacturer of rapid prototyping systems for automotive,
aerospace, industrial, recreational, electronic, medical and consumer
product OEMs. The Company's patented Fused Deposition Modeling
(FDM(R)) rapid prototyping processes create precision 3-dimensional
prototyping parts directly from 3D CAD systems. Stratasys holds more
than 88 granted and pending patents worldwide focused on rapid
prototyping. The Company is located at 14950 Martin Drive, Eden
Prairie, Minnesota 55344-2020 and
This news release contains forward-looking statements that involve
risks and uncertainties. Introduction of new products and materials
are subject to timely completion of development and timely
manufacture, and the success of new products is subject to their
operation in the field as well as customer acceptance. Other risks are
detailed from time to time in the Company's SEC Reports, including the
report on Form 10-Q for June 2002 and Form 10-K for the year ended
December 31, 2001.
CONTACT: Haberman & Associates, Minneapolis Brian Wachtler or Claudine Enger, 612/338-3900 Email Contact Email Contact