December 13, 2013
Stratasys Expands Footprint in South Korea
SEOUL, South Korea, Dec. 13, 2013 / -- Stratasys Asia Pacific, a subsidiary of Stratasys Ltd. (NASDAQ: SSYS), a manufacturer of 3D printers and materials for personal use, prototyping, and production, today announced the signing of an asset purchase agreement with its local channel partner -- Sysopt Engineering -- for the purchase of certain assets including customer service contracts and inventory, to expand its footprint in South Korea. Following the completion of the transaction and finalization of the establishment of Stratasys Korea, a fully owned subsidiary of Stratasys AP, these assets will be assigned to Stratasys Korea.
Stratasys Korea will offer the complete suite of the Stratasys product offering, together with its other local channel partners, and, following completion of the transaction, service the existing installed base of its former partner. This arrangement demonstrates Stratasys' commitment to the local Korean market and aligns its overall business growth strategy in the region.
"We view Korea as a strategic market with many leading and innovative enterprises. We've been witnessing rapid growth in 3D printing applications in many verticals. Our localized and expanded team plans to lay a strong foundation to support the demand and customers, enhancing responsiveness and operational efficiency," said Jonathan Jaglom, General Manager of Stratasys, APJ. "As an industry leader, we continue to strive for technology and service excellence through the offering of cutting-edge 3D printing solutions and high level of customer service satisfaction."
Stratasys Korea and its local channel partners will continue to focus on key verticals including automotive, education, dental, consumer electronics, consumer goods, medical & medical equipment and industrial machinery.
Stratasys Ltd. (Nasdaq: SSYS), headquartered in Minneapolis, Minn. and Rehovot, Israel, manufactures 3D printers and materials for prototyping and production. The company's patented FDM® and PolyJetTM 3D Printing technologies produce prototypes and manufactured goods directly from 3D CAD files or other 3D content. Systems include 3D printers for idea development, prototyping and direct digital manufacturing. Stratasys subsidiaries include MakerBot and Solidscape, and the company operates the RedEye digital-manufacturing service. Stratasys has more than 1700 employees, holds over 500 granted or pending additive manufacturing patents globally, and has received more than 20 awards for its technology and leadership. Online at: www.stratasys.com or http://blog.stratasys.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements regarding Stratasys' beliefs, intentions and expectations, including without limitation statements regarding the development and performance of our products and the potential growth of our industry and market, are forward-looking statements (within the meaning of the United States federal securities laws). The statements involve risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those projected. Actual results may differ materially due to a number of factors, including the risk and uncertainty relating to Stratasys' ability to penetrate the 3D printing market; its ability to achieve the growth rates experienced in preceding quarters; its ability to introduce, produce and market both existing and new consumable materials, and the market acceptance of these materials; the impact of competitive products and pricing; its timely development of new products and materials and market acceptance of those products and materials; the success of Stratasys' recent R&D initiative to expand the DDM capabilities of its core FDM technology; and the success of Stratasys' RedEye On DemandTM and other paid parts services. This list is intended to identify only certain of the principal factors that could cause actual results to differ. These and other applicable factors are discussed in this presentation and in Stratasys' Annual Report on Form 20-F for the year ended December 31, 2012, as well as other filings that Stratasys, Inc. has made with the SEC and that Stratasys Ltd. has made and will make with the SEC in the future. Any forward-looking statements included in this presentation are as of the date they are given, and Stratasys is not obligated to update them if its views later change, or to reflect the occurrence of unanticipated events, except as may be required by law. These forward-looking statements should not be relied upon as representing Stratasys' views as of any date subsequent to the date they are given.
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