Stratasys Appoints CoreEL Technologies as Channel Partner to Expand Market Outreach in India

Offers professional 3D printing solutions, application consultations and customer services to support local organizations throughout design and manufacturing workflows

 

Bangalore, India – August 11, 2016 – Stratasys India, a subsidiary of Stratasys Ltd. (NASDAQ: SSYS), the 3D printing and additive manufacturing solutions company, today announced the appointment of  CoreEL Technologies (I) Pvt. Ltd. (CoreEL) as authorized channel partner to expand its market outreach in India. CoreEL extends Stratasys’ well-established partner network to offer professional 3D printing solutions, additive manufacturing application consultations and customer services to support local organizations throughout their design and manufacturing workflows.

Founded in 1999, Bangalore-based CoreEL is a leading developer and full-service provider of advanced electronic system level products and solutions for aerospace & defense, research & higher education, and digital media broadcasting industries. Renowned for outstanding services to offer viable, productive and timely solutions to meet customers’ manufacturing needs, CoreEL markets the complete Stratasys 3D printing solutions and ecosystem across India, including its suite of professional 3D production systems, desktop 3D printers, and a wide range of high-performance materials engineered for targeted industries such as automotive, aerospace, machineries and medical etc.

“We are committed to enhance local accessibility to Stratasys’ professional 3D printing ecosystem through a customer- centric strategy,” commented Rajiv Bajaj, Managing Director of Stratasys India. “With CoreEL’s renowned reputation in offering technology solutions and mapping customers’ application needs, we believe this partnership will help customers leverage 3D printing especially in Aerospace & Defense and Academia which are key focus areas for CoreEL.”

“We are delighted to be on board with the best-in-class 3D printing solutions provider and broaden our product portfolio to give customers an innovative option to enhance their production capabilities,” said Vishwanath Padur, President- CoreEL Technologies “3D printing has a high potential to impact the manufacturing segment, closing the gap for quick turnaround time with reduced cost and accelerating production schedules for many organizations.”

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About CoreEL

CoreEL Technologies is a Customer Application Specific Product & Solutions (CASPS) company offering INNOVATIVE solutions from its diverse portfolio of expertise that includes Intellectual Property (IP) cores, System Design, Manufacturing, Sustenance and OEM solutions in the form of EDA tools, CAE tools, COTS products and Technology training. CoreEL’s strength lies in its ability to blend deep domain knowledge with the right ingredients across its portfolio of offerings. It is a leading developer of advanced electronic system level products and solutions to three primary markets – Aerospace & Defence, Digital Media Broadcast, and Universities & Institutions of higher learning. Visit http://www.coreel.com

About Stratasys

For more than 25 years, Stratasys Ltd. (NASDAQ:SSYS) has been a defining force and dominant player in 3D printing and additive manufacturing – shaping the way things are made. Headquartered in Minneapolis, Minnesota and Rehovot, Israel, the company empowers customers across a broad range of vertical markets by enabling new paradigms for design and manufacturing. The company’s solutions provide customers with unmatched design freedom and manufacturing flexibility – reducing time-to-market and lowering development costs, while improving designs and communications. Stratasys subsidiaries include MakerBot and Solidscape, and the Stratasys ecosystem includes 3D printers for prototyping and production; a wide range of 3D printing materials; parts on-demand via Stratasys Direct Manufacturing; strategic consulting and professional services; and the Thingiverse and GrabCAD communities with over 2 million 3D printable files for free designs.  With more than 2,700 employees and 800 granted or pending additive manufacturing patents, Stratasys has received more than 30 technology and leadership awards. Visit us online at: www.stratasys.com or http://blog.stratasys.com/, and follow us on LinkedIn.

Note Regarding Forward-Looking Statements

The statements in this press release relating to Stratasys' expectations of the benefits that it will receive from its partnership with CoreEL Technologies (I) Pvt. Ltd., 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 partnership will not materialize, or could be less, than Stratasys currently expects, due to technical or other unforeseen reasons; 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.

For further information please contact:

Stratasys AP

Alice Chiu

Media.ap@stratasys.com

+852 3944 8888

Stratasys Ltd. © 2015. All rights reserved. See stratasys.com/legal for trademark information.