3D Systems Reaches Agreement with Vantico.Business Editors & High-Tech Writers VALENCIA, Calif.--(BUSINESS WIRE)--March 20, 2002 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 ), a leading manufacturer of solid imaging solutions, today announced it has entered into a settlement agreement with Vantico Inc. related to the termination of the Distribution and R&D agreements between the two companies and the termination of the related arbitration proceedings. Under the terms of the settlement agreement, Vantico will pay 3D Systems $22 million, which can be satisfied at the election of Vantico in cash or the delivery of 1.55 million shares of 3D Systems common stock. Payment (or the tender of shares of common stock) will be made in the second and/or third quarter of 2002. 3D Systems will also have the option to purchase remaining shares of 3D Systems stock currently owned by Vantico. Both parties will be free to develop, test, directly introduce, market and supply resins, including style files to the stereolithography The first 3D printing technology, which was pioneered by Chuck Hull of 3D Systems. See 3D printing. (SL) resin materials to the market place. "This is a very positive move for 3D Systems and our customers," said Brian Service, 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. of 3D Systems. "It allows our customers an uninterrupted materials supply and will enable 3D Systems to fully integrate its RPC (Remote Procedure Call) A programming interface that allows one program to use the services of another program in a remote machine. The calling program sends a message and data to the remote program, which is executed, and results are passed back to the calling subsidiary and its materials development capacity. "RPC, of Marly marl n. A crumbly mixture of clays, calcium and magnesium carbonates, and remnants of shells that is sometimes found under desert sands and used as fertilizer for lime-deficient soils. tr.v. , Switzerland, an independent supplier of SL resins, currently operates as a sister company to 3D Systems Inc. We expect to be able to immediately manufacture and offer a full range of SL materials to our customers, and extend the range to incorporate new materials with broader applications in the coming months," Service added. About 3D Systems Founded in 1986, 3D Systems provides solid imaging products and solutions that help reduce the time and cost of designing products and facilitate direct and indirect manufacturing. Its systems utilize patented technologies that create physical objects from digital input. 3D Systems currently offers the ThermoJet(R) solid object 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) systems and SLS (Selective Laser Sintering) See laser sintering and 3D printing. (R) (selective laser sintering See laser sintering and 3D printer. ) systems, as well as related software and materials. Product pricing in the U.S. ranges from $49,995, for the ThermoJet printer, to $799,000 for the high-end SLA 7000 system. The company licenses the complementary 3D Keltool(R) process, a method for producing steel mold inserts, and currently is developing systems that use composite paste materials for direct manufacturing. More information on the company is available at www.3dsystems.com, or by phoning 888/337-9786, extension 2882, or 661/295-5600 internationally. An investor packet can be obtained by calling 800/757-1799. More information regarding RPC is available at www.rpc.ch. Note to Editors: ThermoJet, SLA, SLS, Keltool and the 3D logo are registered trademarks of 3D Systems. Certain statements in this news release may include forward-looking statements 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: world economic conditions including the unknown effects of the continuing U.S. military action, the ability to timely and cost-effectively develop resins adequate for use with 3D Systems' products and which are commercially accepted, the funding of amounts of capital adequate to provide for the working capital needs of the company; actions of competitors and customers; and such other factors as are described in the companies' filings with the Securities and Exchange Commission, including annual reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 2000, quarterly reports on Form 10-Q Form 10-Q See 10-Q. for the quarters ended March 31, June 30 and Sept. 30, 2001, and 3D Systems' current reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. filed on April 6, April 10, Sept. 4 and Nov. 5, 2001. |
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