Merrimack, NH, September 21, 2012 — Solidscape®, Inc., the leading manufacturer of high precision 3D printers for direct manufacturing applications, today announced the retirement of David R. Bothwell, President and Chief Executive Officer following 14 years of leadership and service to Solidscape.
Bothwell’s retirement marks the end of a planned transitional period with Fabio M. Esposito assuming the leadership role as President of Solidscape, Inc. effective immediately.
“At Solidscape I’ve had the privilege to work with really gifted employees, partners and customers,” commented Bothwell. Together we’ve taken Solidscape from a small start-up to industry leadership in high precision 3D wax printing and the recent launch of the 3Z printer series ensures a new era of growth for the company.”
“The real highlight of my career was working in collaboration with our Value Added Resellers to consistently provide excellent service to our rapidly-growing customer base,” added Bothwell. “With the right management team, products and partners in place I can move on with great confidence in Solidscape’s future—my mission is accomplished.”
Commenting on the transition, Esposito said, “David’s leadership shaped our success and who we are today. As a result of his steady hand Solidscape grew significantly in every dimension and is incredibly well positioned for the future. I look forward to building upon David’s success, as we empower the growth of small and medium business around the world through the power and promise of 3D direct manufacturing.”
Mr. Bothwell joined Solidscape in March, 1998 bringing a proven record of accomplishments in the computer peripheral industry. At Solidscape he oversaw the introduction of every major product and the global growth of the company. This included the sale of Solidscape to Stratasys, Inc. in May, 2011.
Esposito joined Solidscape in 2007 from Parsytec AG in Germany, a global leader specializing in surface inspection, quality and yield management solutions. Esposito held the position of Vice President of the American subsidiary, after successfully developing the business in Southern Europe. He holds a BS and MS degrees in Electronic Engineering and has an extensive background in managing sales of complex, integrated software and technology solutions in process industries worldwide. At Solidscape he most recently held the position of Vice President, Worldwide Sales & Marketing.
“Fabio’s unique qualifications and effective leadership skills ideally suit him to lead Solidscape moving forward,” said Bothwell. “I know that he and his team will take it to the next level.”
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About Solidscape®, Inc. Company:
Solidscape®, Inc., a wholly owned subsidiary of Stratasys, Inc. (NASDAQ: SSYS), is the leader in high precision 3D printers for direct manufacturing applications. Over the years, Solidscape has set the bar for the highest standards in surface finish, accuracy and material castability. Solidscape printers are marketed through a global network of distribution partners, and are used for casting fine jewelry, dental restorations, turbine blades, medical, orthopedics, consumer goods, electronics, toys and many other high precision products.
Forward Looking Statements
All statements herein that are not historical facts or that include such words as “expects,” “anticipates,” “projects,” “estimates,” “vision,” “could,” “potential,” “planning”, “intends”, “desires” or “believes” or similar words constitute forward-looking statements covered by the safe harbor protection of the Private Securities Litigation Reform Act of 1995. Except for the historical information herein, the matters discussed in this news release are forward-looking statements that involve risks and uncertainties. These include statements regarding projected revenue and income in future quarters; the size of the 3D printing market; our objectives for the marketing and sale of our Dimension® and uPrint® 3D Printers; our WaveWash™ support removal system; and our Fortus® 3D Production Systems, particularly for use in direct digital manufacturing (DDM); the demand for our proprietary consumables; the expansion of our paid parts service; and our beliefs with respect to the growth in the demand for our products. Other risks and uncertainties that may affect our business include our ability to penetrate the 3D printing market; the success of our distribution agreement with HP; our ability to achieve the growth rates experienced in preceding quarters; our ability to introduce, produce and market consumable materials, and the market acceptance of these materials; the impact of competitive products and pricing; our timely development of new products and materials and market acceptance of those products and materials; the success of our recent R&D initiative to expand the DDM capabilities of our core FDM technology; and the success of our RedEyeOnDemandTM and other paid parts services. They also include statements about future financial and operating results of our company after the acquisition of Solidscape and anticipated benefits of the acquisition. Actual results may differ from those expressed or implied in our forward-looking statements. Such forward-looking statements involve and are subject to certain risks and uncertainties, which may cause our actual results to differ materially from those discussed in a forward-looking statement. Such risk factors include our ability to successfully integrate and market Solidscape products, our ability to retain Solidscape management and our ability to protect and defend Solidscape intellectual property. These statements represent beliefs and expectations only as of the date they were made. We may elect to update forward-looking statements, but we expressly disclaim any obligation to do so, even if our beliefs and expectations change. In addition to the statements described above, such forward-looking statements are subject to the risks and uncertainties described more fully in our current report on Form 8-K filed in connection with the completion of our acquisition of Solidscape and in our reports filed or to be filed with the Securities and Exchange Commission, including our annual reports on Form 10-K and quarterly reports on Form 10-Q.
About Stratasys®, Inc. Company:
Stratasys, Inc., Minneapolis, is a maker of additive manufacturing machines for prototyping and producing plastic parts. The company markets under the brands Dimension 3D Printers and Fortus Production 3D Printers. The company also operates RedEye On Demand, a digital manufacturing service for prototypes and production parts. In 2011 Stratasys acquired 3D printer maker, Solidscape, Inc. According to Wohlers Report 2011, Stratasys had a 41 percent market share in 2010, and has been the unit market leader for the ninth consecutive year. Stratasys patented and owns the Fused Deposition Modeling (FDM®) process. The process creates functional prototypes and manufactured goods directly from any 3D CAD program, using high-performance industrial thermoplastics. The company holds more than 285 granted or pending additive manufacturing patents globally. Stratasys products are used in the aerospace, defense, automotive, medical, business & industrial equipment, education, architecture, and consumer-product industries. Online at: www.Stratasys.com