3D Systems Streamlines Production, Fosters Continuous Innovation by Insourcing Manufacturing of Additional Printer Platforms
15 September 2023 - 6:51AM
Today, 3D Systems (NYSE:DDD) announced the completion of its
strategic initiative to insource the manufacturing of two more
strategic printer platforms. The company transferred this activity
from two electronics manufacturing services (EMS) partners, with
which 3D Systems maintains commercial relationships to expand the
adoption of these platforms globally. As a result of insourcing,
the company now controls the entire manufacturing process from
design to production, leveraging its deep technical and application
expertise to deliver products of superior quality and innovation to
its customers. Additionally, with this increased level of
manufacturing process control, 3D Systems has matched or improved
production quality and reduced lead times to meet customer demand.
This includes the ability to be nimble and adapt solutions to meet
customers’ unique needs with unmatched additive manufacturing
capabilities and printing process customization options.
“Our customers want reliable, high-quality products that meet
their evolving needs for use in factory production environments,”
said Dr. Joe Zuiker, 3D Systems’ executive vice president,
engineering & operations. “In-house manufacturing not only
enables us to streamline production and reduce lead times, but it
also allows us to offer competitive pricing through more efficient
operations. This means our customers can receive greater value from
our production printers, faster than ever before. We elevate our
commitment to customer satisfaction by also providing printing
process solutions tailored to our customers' unique requirements
and exceptional customer support. Our continuous improvement is
helping our customers accelerate their adoption of additive
manufacturing and thereby attain a competitive advantage in their
market.”
Dr. Jeffrey Graves, president & CEO, 3D Systems, stated,
“We’re pleased to achieve this major milestone which is catalyzing
our ability to deliver enhanced quality, and pioneering innovation
for our customers. We began our insourcing initiative last year by
consolidating the production of multiple polymer 3D printing
platforms into our Rock Hill, South Carolina facility. Since that
time we have experienced dramatic improvements in both cost and
quality, as well as the ability to accelerate the introduction of
new products to meet the market’s continuously evolving needs.
Since undertaking this initiative last year, lead times have
shortened each quarter, and we believe that this activity, in
conjunction with other actions puts us on the path to reduce
overall inventory by over 20% in 2024. The decision to insource is
helping us to better utilize our assets and internal resources, not
only driving operational improvements but also cost reductions that
align with our financial commitments to shareholders.”
Insourced production of these two printer platforms began in
August 2023 and as of today, production units are available to be
placed at customer sites. For more information about 3D Systems’ 3D
printing solutions, please visit the company’s website.
Forward-Looking StatementsCertain 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 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 or
projections expressed or implied by such forward-looking
statements. In many cases, forward-looking statements can be
identified by terms such as "believes," "belief," "expects," "may,"
"will," "estimates," "intends," "anticipates" or "plans" or the
negative of these terms or other comparable terminology.
Forward-looking statements are based upon management’s beliefs,
assumptions, and current expectations and 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" 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. Although
management believes that the expectations reflected in the
forward-looking statements are reasonable, forward-looking
statements are not, and should not be relied upon as a guarantee of
future performance or results, nor will they necessarily prove to
be accurate indications of the times at which such performance or
results will be achieved. The forward-looking statements included
are made only as of the date of the statement. 3D Systems
undertakes no obligation to update or review any forward-looking
statements made by management or on its behalf, whether as a result
of future developments, subsequent events or circumstances or
otherwise.
About 3D Systems More than 35 years ago, 3D
Systems brought the innovation of 3D printing to the manufacturing
industry. Today, as the leading additive manufacturing solutions
partner, we bring innovation, performance, and reliability to every
interaction - empowering our customers to create products and
business models never before possible. Thanks to our unique
offering of hardware, software, materials, and services, each
application-specific solution is powered by the expertise of our
application engineers who collaborate with customers to transform
how they deliver their products and services. 3D Systems’ solutions
address a variety of advanced applications in healthcare and
industrial markets such as medical and dental, aerospace &
defense, automotive, and durable goods. More information on the
company is available at https://www.3dsystems.com.
Investor
Contact: |
investor.relations@3dsystems.com |
Media Contact: |
press@3dsystems.com |
3D Systems (NYSE:DDD)
Historical Stock Chart
From Apr 2024 to May 2024
3D Systems (NYSE:DDD)
Historical Stock Chart
From May 2023 to May 2024