3D Systems Acquires Huntsman's Stereolithography Product Line
November 01 2011 - 9:13AM
3D Systems Corporation (NYSE:DDD) announced today that it acquired
from the Advanced Materials Division of Huntsman Corporation
(NYSE:HUN) its RenShape® stereolithography print materials and
Digitalis® rapid manufacturing 3D printer product line for $41
million in cash. This business generated $7 million of annual
revenue during 2010, primarily from sales of RenShape® print
materials.
Huntsman has been a global provider of RenShape®
stereolithography, a portfolio of advanced materials formulated to
print durable, robust parts and prototypes with outstanding
accuracy, intricate reproduction of detail and a high-quality
surface finish. These materials complement 3D Systems' product
offering and are ideal for printing snap-fit polypropylene and ABS
like parts and selectively colored medical models on 3D Systems'
SLA® printers.
Digitalis® is a new MEMS (Microelectromechanical systems) rapid
manufacturing printer currently in advanced stages of development
and validation that is capable of manufacturing large numbers of
parts simultaneously at high speed and accuracy.
This acquisition complements 3D Systems' print materials
technology and intellectual property portfolio and adds the
Digitalis® print engine to its printer family. 3D Systems
plans to integrate these product lines into its growing rapid
manufacturing and healthcare solutions portfolio. The company
expects this acquisition to be immediately accretive to its net
income and contribute favorably to its target operating model.
"We are pleased to deliver the benefits of Huntsman's
complementary performance print materials and printers to our
customers world-wide," said Abe Reichental, President and CEO of 3D
Systems. "This acquisition is consistent with our growth
strategy, complements our technology and product portfolio, and is
immediately accretive to our target operating model."
Forward-Looking Statements
Certain statements made in this release that are not statements
of historical or current facts are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements may involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, performance or achievements of the company to be
materially different from historical results or from any future
results expressed or implied by such forward-looking
statements. In addition to statements that explicitly
describe such risks and uncertainties, readers are urged to
consider statements in the conditional or future tenses or that
include terms such as "believes," "belief," "expects," "estimates,"
"intends," "anticipates" or "plans" to be uncertain and
forward-looking. Forward-looking statements may include
comments as to the company's beliefs and expectations as to future
events and trends affecting its business and are necessarily
subject to uncertainties, many of which are outside the control of
the company. The factors described under the headings
"Forward-Looking Statements," "Cautionary Statements and Risk
Factors," and "Risk Factors" in the company's periodic filings with
the Securities and Exchange Commission, as well as other factors,
could cause actual results to differ materially from those
reflected or predicted in forward-looking statements.
About 3D Systems Corporation
3D Systems is a leading provider of 3D content-to-print
solutions including 3D printers, print materials and on-demand
custom parts services for professionals and consumers alike. The
company also provides creative content development, design
productivity tools and curation services and downloads. Its
expertly integrated solutions replace, displace and complement
traditional methods and reduce the time and cost of designing new
products by printing real parts directly from digital
input. These solutions are used to rapidly design,
communicate, prototype and produce functional parts, empowering its
customers to create with confidence.
More information on the company is available at
www.3DSystems.com.
To experience our entire range of 3D content-to-print products
and services please visit www.printin3D.com,
www.production3dprinters.com, www.toptobottomdental.com,
www.quickparts.com, www.3Dproparts.com, www.alibre.com,
www.bitsfrombytes.com, www.botmill.com, www.The3dStudio.com,
www.freedomofcreation.com, www.sycode.com, blog.3dsystems.com, or
via email at moreinfo@3Dsystems.com.
The 3D Systems Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4537
CONTACT: Investor Contact: Stacey Witten
803-326-4010
E-mail: WittenS@3dsystems.com
Media Contact: Cathy Lewis
803-326-3950
Email: LewisCL@3dsystems.com
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