FRIEDBERG, Germany--(BUSINESS WIRE)--voxeljet AG (NYSE: VJET) (the “Company”, or “voxeljet”), a leading
provider of high-speed, large-format 3D printers and on-demand parts
services to industrial and commercial customers, today announced the
signing of a definitive agreement to form an equity joint venture with
Suzhou Meimai Fast Manufacturing Technology Co., Ltd. (“Meimai”) to
pursue opportunities in the industrial 3D printing market in China.
Among the indirect shareholders of Meimai are MK Technology GmbH
(“MK Technology“) and Metang Novatech Shanghai Co., Ltd. (“Metang“).
Metang is a long standing distribution partner of voxeljet in China.
Meimai operates a VX 800 3D printer which was purchased by MK Technology
and delivered to Metang in 2011. The voxeljet printer will not form part
of the contemplated joint venture.
The joint venture shall be called voxeljet China Ltd., subject to the
approval by the local authorities. voxeljet China Ltd. will be
controlled by voxeljet, who is holding a supermajority interest in the
joint venture. Other terms of the transaction were not disclosed.
voxeljet China Ltd. will be headquartered in the city of Suzhou, near
Shanghai, and is expected to begin providing on-demand part services
from a temporary facility in the second quarter of 2016. The joint
venture parties are in the early planning stages for a larger facility,
which is expected to be similar in size to voxeljet’s existing service
facilities in Germany and the United States.
Dr. Ingo Ederer, Chief Executive Officer of voxeljet, commented, “We are
excited to announce our joint venture partnership with Meimai in China
as part of our ongoing growth strategy. Our long standing relationship
with the principals of Meimai makes them the ideal local partner for us
to establish a direct operating presence in the market. Their experience
with our printers coupled with their existing customer base and
relationships with end users of industrial 3D printing applications in
China is a great benefit. This is a great opportunity for us and we look
forward to growing together in the market.”
About voxeljet
voxeljet is a leading provider of high-speed, large-format 3D printers
and on-demand parts services to industrial and commercial customers. The
Company’s 3D printers employ a powder binding, additive manufacturing
technology to produce parts using various material sets, which consist
of particulate materials and proprietary chemical binding agents. The
Company provides its 3D printers and on-demand parts services to
industrial and commercial customers serving the automotive, aerospace,
film and entertainment, art and architecture, engineering and consumer
product end markets. For more information, visit http://www.voxeljet.de/en/.
Cautionary Statement on Forward-Looking Statements
This press release contains forward-looking statements concerning our
business, operations and financial performance. Any statements that are
not of historical facts may be deemed to be forward-looking statements.
You can identify these forward-looking statements by words such as
‘‘believes,’’ ‘‘estimates,’’ ‘‘anticipates,’’ ‘‘expects,’’ ‘‘plans,’’
‘‘intends,’’ ‘‘may,’’ ‘‘could,’’ ‘‘might,’’ ‘‘will,’’ ‘‘should,’’
‘‘aims,’’ or other similar expressions that convey uncertainty of future
events or outcomes. Forward-looking statements include statements
regarding our intentions, beliefs, assumptions, projections, outlook,
analyses or current expectations concerning, among other things, our
results of operations, financial condition, business outlook, the
industry in which we operate and the trends that may affect the industry
or us. Although we believe that we have a reasonable basis for each
forward-looking statement contained in this press release, we caution
you that forward-looking statements are not guarantees of future
performance. All of our forward-looking statements are subject to known
and unknown risks, uncertainties and other factors that are in some
cases beyond our control and that may cause our actual results to differ
materially from our expectations, including those risks identified under
the caption “Risk Factors” in the Company’s Annual Report on Form 20-F
and in other reports the Company files with the U.S. Securities and
Exchange Commission. Except as required by law, the Company undertakes
no obligation to publicly update any forward-looking statements for any
reason after the date of this press release whether as a result of new
information, future events or otherwise.
