3D Systems Names Abe Reichental President and Chief Executive Officer.Business Editors VALENCIA, Calif.--(BUSINESS WIRE)--Sept. 19, 2003 The Board of Directors of 3D Systems Corp. (Nasdaq:TDSC TDSC Thai Development Support Committee TDSC Time Domain Signal Coding TDSC Test Driver System - Charlie TDSC Time-Domain Spreading Code ), world leader of rapid prototyping Building a part one layer at a time using a method of additive fabrication such as 3D printing. Such parts are used for concept modeling to determine if the product design meets the customer's expectations. and advanced digital manufacturing (ADM See add/drop multiplexer. (language) ADM - A picture query language, extension of Sequel2. ["An Image-Oriented Database System", Y. Takao et al, in Database Techniques for Pictorial Applications, A. Blaser ed, pp. 527-538]. (SM)) solutions, announced today that it has named Abe Reichental president and chief executive officer and director effective immediately. Mr. Reichental joins 3D Systems from Sealed Air Sealed Air Corporation(NYSE: SEE) is a company that makes a variety of packaging materials, systems and equipment. Its brands include Bubble Wrap, Cryovac, Instapak, Shanklin and Jiffy Mailer. They have recently moved headquarters to Elmwood Park, New Jersey. Corporation (NYSE NYSE See: New York Stock Exchange :SEE), a leading global manufacturer of food, protective and specialty packaging materials where he was most recently corporate officer and vice president and general manager of Sealed Air's Shrink Packaging Division. He joined Sealed Air in 1981 as a project manager and over the next 22 years progressed through increasingly responsible positions in engineering, sales, marketing and general management in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and Asia-Pacific. He served as Regional Vice President Asia-Pacific from 1999-2001, Vice President and General Manager Europe, Engineered Products Division from 1997-1999, Corporate Vice President of Technology from 1993-1996; Director, New Product Development, Engineered Products Division, 1988-1993; Manager of Sales and Marketing, Engineered Products Division, Europe, 1985-1988, and was Project Manager, Customer Applications Engineered Products Division, 1981-1985. Abe was first elected an officer of Sealed Air in 1994. "We are very pleased that Abe Reichental has joined 3D Systems as president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. ," said G. Walter Loewenbaum ll, 3D Systems Chairman of the Board. "Abe was a key contributor to Sealed Air's growth and development from a company even smaller than 3D Systems to a multibillion dollar global packaging company. His demonstrated entrepreneurial abilities, strong operating skills and broad experience in all facets of marketing, sales, technology, operations and general management are precisely what is needed to enable 3D Systems to successfully meet its goals and advance its technological and market leadership in rapid prototyping and rapid digital manufacturing," Loewenbaum added. "Abe is distinctly qualified to lead 3D Systems. He brings with him a unique mix of experiences, having worked in all disciplines of business in multi-cultural environments. His strong deal-making and negotiating skills will enable us to forge ahead with our growth strategies. His strong performance orientation is exactly what 3D Systems needs to execute its business strategy successfully," said Chuck Hull, co-founder and chief technology officer. "I am excited by 3D Systems' prospects and am looking forward to leading the Company in the coming years as 3D Systems executes its plans to become a leading global provider of rapid manufacturing Building parts out of plastic or metal one layer at a time using a method of additive fabrication such as 3D printing. Multiple pieces, either similar or dissimilar, can be built simultaneously. solutions for an expanding range of customer applications," said Mr. Reichental. "Rapid manufacturing is becoming an accepted alternative to traditional manufacturing processes by our customers across a wide range of applications and I believe 3D Systems has the people, technology and a comprehensive portfolio of value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. solutions to meet and exceed our customer's expectations." 3D Systems plans to hold a conference call to introduce Abe Reichental to the investment community on Tuesday September 30, 2003 at 4:00 p.m. Eastern Daylight Time (1:00 p.m. Pacific Daylight Time). To access the call, dial 877-613-8341 or 706-679-7620 internationally. A recording of the call will be available two hours after the completion of the call for 7 days. To access the recording, dial 800-642-1687 or 706-645-9291 internationally and enter 2919592, the conference call ID number. About 3D Systems Founded in 1986, 3D Systems(R), the solid imaging company(SM), provides solid imaging products and solutions that reduce the time and cost of designing products and facilitate direct and indirect manufacturing. Its systems utilize patented technologies to create physical objects from digital input that can be used in design communication, prototyping, and as functional end-use parts. 3D Systems' product line includes the MJM MJM Multi-Jet Modeling (prototyping manufacturing) MJM Metropolitan Japanese Ministry MJM Married Jewish Male product line (ThermoJet(R) solid object printer and InVision 3-D printer), SLA (1) (StereoLithography Apparatus) See 3D printing. (2) (Service Level Agreement) A contract between the provider and the user that specifies the level of service expected during its term. (R) (stereolithography The first 3D printing technology, which was pioneered by Chuck Hull of 3D Systems. See 3D printing. ) systems, SLS (Selective Laser Sintering) See laser sintering and 3D printing. (R) (selective laser sintering See laser sintering and 3D printer. ) systems, and Accura(R) materials (including photopolymers, metals, nylons, engineering plastics, and thermoplastics). 3D Systems created the rapid prototyping (RP) industry and is the originator of advanced digital manufacturing (ADM(SM)) solution for manufacturing applications. ADM uses 3D Systems' solid imaging technologies to accelerate production of customized/specialized parts. A typical ADM center contains multiple 3D Systems' SLA, MJM and/or SLS systems dedicated to full-time manufacturing applications. 3D Systems' systems range in price from $40,000 to $799,000. More information: www.3dsystems.com or email moreinfo@3dsystems.com. Certain statements in this news release may include forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that express the expectation, prediction, belief or projection of 3D Systems. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance and achievement of 3D Systems to be materially and adversely different from any future results, performance or achievement expressed or implied by these forward-looking statements. Factors that may cause actual results to differ from the forward-looking statements contained in this release and that may affect the company's prospects in general include, but are not limited to; disruption caused by the reconfiguration of the management team, the receipt of a commitment letter by September 30, 2003 to refinance the outstanding obligations with US Bank; the funding of amounts of capital adequate to provide for the working capital needs of the Company; actions of competitors and customers; resolution of currently pending litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; the Company's ability to successfully design and produce new products; customer acceptance of new products; use of product for intended application; the Company's ability to enter into successful relationships with new customers to fully exploit its products; the Company's ability to successfully implement all elements of its restructuring and cost savings program, and such other factors as are described in the Company's filings with the Securities and Exchange Commission. The Company does not undertake to update any forward-looking statements. |
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