MINNEAPOLIS and REHOVOT, Israel, June 2, 2014 /PRNewswire/ --
Stratasys, Ltd. (Nasdaq:SSYS), a global leader of 3D printing and additive manufacturing solutions today announced that Whale, a leading manufacturer of water and heating systems for mobile applications, has slashed its lead times for the production of injection mold tools for prototype parts by up to 97% since introducing Stratasys 3D printing into its tooling process.
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According to Jim Sargent, 3D Technical Services at Whale, the company is 3D printing injection mold tools in less than 24 hours using its Objet350 Connex Multi-material 3D Printer, at a fraction of the cost of producing metal tools: "Traditionally, our lead times for metal tools were somewhere between 4 - 5 weeks and came with significant production costs. As a result, our R&D process was very time-consuming and fundamentally slowed down the launch of new products. With our Objet Connex 3D Printer, we are now able to design our tools during the day, 3D print them overnight and test them the next morning with a range of end-product materials. The time and cost savings associated with this new tooling method are significant."
The injection mold tools are 3D printed using Stratasys' Digital ABS material, which features distinct material properties ideal for low volume part production - high temperature resistance and toughness. Whale also offers its Rapid Prototyping Service to external customers, including automotive and aerospace industries, producing 3D printed multi-material parts and tools using plastics such as polypropylene and polypropylene glass-filled.
"Looking into the future, 3D printing is hugely revolutionary in terms of how we are going to operate as a business," explains Patrick Hurst, Managing Director at Whale. "We have already seen the technology take months off of our product development process and that in turn minimizes risk. In fact, I estimate that we've shortened our R&D process by up to 35% with Stratasys 3D printing solutions. Add that on top of the 20% we're already saving in terms of our design work - well for me, it's fantastic."
Nadav Sella, Solutions Sales Manager at Stratasys concludes: "We are seeing an increasing number of customers exploring the potential that 3D printed injection mold tools offer. In addition to the dramatic cost and time savings potential, our Digital ABS tools enable companies to produce parts in the real end-product material, ready to test even in the prototyping phase. Our customers can therefore make quicker test iterations and bring products to market faster."
Watch this video to learn about how Whale's move to 3D printing is revolutionizing its injection molding process.
Stratasys Ltd. (Nasdaq:SSYS), headquartered in Minneapolis, Minnesota and Rehovot, Israel, is a leading global provider of 3D printing and additive manufacturing solutions. The company's patented FDM®, PolyJetTM™, and WDM™ 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 1900 employees, holds over 550 granted or pending additive manufacturing patents globally, and has received more than 25 awards for its technology and leadership. Online at: http://www.stratasys.com or http://blog.stratasys.com.
Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements
Certain information included or incorporated by reference in this press may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are often characterized by the use of forward-looking terminology such as "may," "will," "expect," "anticipate," "estimate," "continue," "believe," "should," "intend," "project" or other similar words, but are not the only way these statements are identified. These forward-looking statements may include, but are not limited to, statements relating to the company's objectives, plans and strategies, statements regarding the expected performance and impact of our products, statements that contain projections of results of operations or of financial condition (including, with respect to the MakerBot acquisition) and all statements (other than statements of historical facts) that address activities, events or developments that the company intends, expects, projects, believes or anticipates will or may occur in the future. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. The company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among other things: the company's ability to efficiently and successfully integrate the operations of Stratasys, Inc. and Objet Ltd. after their merger as well as MakerBot after its acquisition and to successfully put in place and execute an effective post-merger integration plans; the overall global economic environment; the impact of competition and new technologies; general market, political and economic conditions in the countries in which the company operates; projected capital expenditures and liquidity; changes in the company's strategy; government regulations and approvals; changes in customers' budgeting priorities; litigation and regulatory proceedings; and those factors referred to under "Risk Factors", "Information on the Company", "Operating and Financial Review and Prospects", and generally in the company's annual report on Form 20-F for the year ended December 31, 2013 filed with the U.S. Securities and Exchange Commission and in other reports that the company has filed with the SEC. Readers are urged to carefully review and consider the various disclosures made in the company's SEC reports, which are designed to advise interested parties of the risks and factors that may affect its business, financial condition, results of operations and prospects. Any forward-looking statements in this press release are made as of the date hereof, and the company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE Stratasys Ltd.
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