- Insourcing of metal and polymer production printers in Riom, France & Rock Hill, South Carolina facilities enables enhanced quality control, reduced manufacturing cycle times, and accelerated new product introduction
- Enhances customer satisfaction through shorter lead times, increased product support, and process customization
- Enables improved asset management & resource utilization anticipated to reduce total inventories by over 20% in 2024
ROCK HILL, S.C., Sept. 14, 2023 (GLOBE NEWSWIRE) -- 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 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 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 |
