October 18, 2013
Stratasys Reinforces Presence in Japan
- Announced Intent to Exercise Option to Acquire Fasotec Minority Interest in Stratasys Japan
- Represents full ownership of its installed base and services
- Reinforces its commitment to overall business coverage and expands the footprint
Tokyo, Japan, October 18th, 2013 – Stratasys Asia Pacific, a subsidiary of Stratasys Ltd. (NASDAQ: SSYS), a leading manufacturer of 3D printers and production systems for prototyping and manufacturing today announced that it has provided notice of its intent to exercise the option to acquire remaining holdings of Fasotec in Stratasys Japan pursuant to a joint venture agreement between Fasotec and Stratasys. Following the exercise of the option, Stratasys Japan will become a wholly owned subsidiary of Stratasys Ltd.
Following the option exercise, Stratasys Japan will continue to market and sell the Stratasys product offering under Stratasys’ direction. In accordance to its guidance, Stratasys Japan will have full ownership of the installed base and its related service contracts. This move reinforces Stratasys’ commitment to overall business coverage in Japan, and expands its local industry footprint.
The decision by Stratasys to exercise the option stems from its belief that this will allow Stratasys to better prepare for future growth in the rapidly expanding Japanese market.
“We witness strong growth in the 3D printing market in Japan. Stratasys is positioned to invest more on infrastructure in order to build awareness and a strong foundation to support our customers, partners and the industry,” said Jonathan Jaglom, General Manager of Stratasys AP. “We wish to sincerely thank our partner, Fasotec, for their years of commitment in the partnership, which helped create new opportunities in the market for us.”
“The 3D printing industry is growing rapidly in Japan. By exercising the option under the JV agreement and acquiring full ownership of Fasotec, we will complete a smooth transition to a wholly owned subsidiary committed to continuing to provide best-in-class 3D printing solutions, services and technologies that are suitable for the Japan market,” said Eric Goguy, CEO & President of Stratasys Japan.
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 PolyJet® processes 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 On Demand digital-manufacturing service. Stratasys has more than 1500 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
Fasotec Co., Ltd. is engaged in the PLM (Product Life Cycle) business as a provider of engineering solutions, mainly CAD/CAM/CAE/PDM systems, through technology and know-how regarding 3D digital data utilization. Fasotec’s main customer base comprises the automotive industry, plus a wide range of other sectors including electrical/electronics, aerospace, and consumables. For medical, Fasotec launched a medical engineering service business unit with Bio-texture modeling patent. Fasotec was established in 1983, and currently has subsidiaries in Japan and China. For more information, visit us at http://www.fasotec.co.jp/.
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, 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 that the businesses of the two companies may not be integrated successfully; the risk that the merger may involve unexpected costs or unexpected liabilities; the risk that synergies from the merger may not be fully realized or may take longer to realize than expected; the risk that management’s focus on and disruptions arising from the merger make it more difficult to maintain relationships with customers, employees, or suppliers. Stratasys’ ability to achieve the results presented in any forward-looking statement will depend on numerous factors, including its 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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