3D Systems and Dussur create a joint venture to develop additive manufacturing in Saudi Arabia

3D Systems Inc.

  • The mission is to support the large-scale adoption of additive manufacturing in key vertical markets, including the energy, industrial, aerospace and healthcare segments.

  • Supports Saudi Arabia’s “Vision 2030” goal of economic diversification, which is central to long-term sustainability

  • 3D Systems brings cutting-edge application expertise and the widest range of printing solutions to maximize local adoption of additive manufacturing

ROCK HILL, SC and RIYADH, Kingdom of Saudi Arabia, March 29, 2022 (GLOBE NEWSWIRE) — Today, 3D systems (NYSE: DDD), the leading provider of additive manufacturing solutions, and the Saudi Arabian Industrial Investments Company (Dussur) have signed an agreement to expand the use of additive manufacturing (AM) within the Kingdom of Saudi Arabia and surrounding geographic areas, including the Middle East and North Africa. The announcement was made during a ceremony in Riyadh on March 29, 2022. The aim of the new joint venture is to enable the development of Saudi Arabia’s domestic additive manufacturing production capabilities, in line with the “Vision 2030 of the Kingdom, which focuses on diversification. economy and long-term sustainability. The Additive Manufacturing and Innovation Center will initially focus on energy, with planned expansions into other industrial sectors as well as healthcare solutions.

Commenting on the new joint venture, Dr. Jeffery Graves, President and CEO of 3D Systems, said, “Our partnership with Dussur will accelerate the adoption of additive manufacturing in the region, enabling the diversification of the Saudi economy. While the energy segment will be one of the focus areas, a wide range of applications in the industrial, aerospace and healthcare segments will be addressed. We are delighted with this partnership and believe it will provide a strong foundation within the Kingdom to develop local engineering and manufacturing and encourage green energy sources.

The joint venture follows a selection process in which 3D Systems was chosen because of the breadth of its additive technology as well as the depth of its application expertise. Modeled after 3D Systems’ application development and advanced manufacturing sites located in Littleton, Colorado, and Leuven, Belgium, the new facility is scheduled to open in late 2022 and is expected to include a wide range of 3D printing technologies in plastic and metal as well as 3D technologies Systems application engineers who bring in-depth industry-specific expertise. The innovation and advanced application facility for customers will benefit from the Kingdom’s strategic geographical location at the crossroads of important international trade routes between three continents and represents another step to cement the Kingdom’s position as a logistics hub. unique region for global maritime trade.

“Establishing Saudi Arabia’s first innovation and additive manufacturing center with a world-class player such as 3D Systems will unlock new localization initiatives throughout the supply chain,” said Dr. Raed Al -Rayes, CEO of Dussur. “This partnership is linked to Dussur’s mission to support the Kingdom’s industrialization journey and locate disruptive technologies that will revolutionize the way we think about manufacturing. We look forward to beginning our work with 3D Systems to help secure supply in the region and build local capacity for the jobs of the future.

Forward-looking statements
Certain statements made in this release that are not statements of historical or current fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors. that may cause the company’s actual results, performance or achievements to be materially different from historical results or any future results or projections expressed or implied by such forward-looking statements, including the ability of Dussur and 3D Systems to develop the joint venture as expected. In many cases, forward-looking statements can be identified by words such as “believes”, “believes”, “expects”, “may”, “will”, “estimates”, “intends”. , “anticipate” or “plan” or the negative of these terms or other comparable terms. Forward-looking statements are based on management’s current beliefs, assumptions and expectations and may include comments about the company’s beliefs and expectations regarding future events and trends affecting its business and are necessarily subject to uncertainties, including many are beyond the company’s control. The factors described under the headings “Forward-Looking Statements” and “Risk Factors” in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or anticipated in the forward-looking statements. research statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, the forward-looking statements are not and should not be taken as guarantees of future performance or results, and they will not necessarily prove to be precise indications. the times at which these performances or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or revise any forward-looking statements made by or on behalf of management, whether as a result of future developments, subsequent events or circumstances or otherwise, except as required by law. requires it.

About 3D Systems
Over 30 years ago, 3D Systems brought the innovation of 3D printing to the manufacturing industry. Today, as the leading additive manufacturing solutions partner, we bring innovation, performance and reliability to every interaction – enabling our customers to create products and business models never before possible. Through our unique offering of hardware, software, materials and services, each application-specific solution is powered by the expertise of our application engineers who work with customers to transform the way they deliver their products and services. 3D Systems’ solutions serve a variety of advanced applications in healthcare and industrial markets such as medical and dental, aerospace and defense, automotive, and durable goods. More information about the company is available at www.3dsystems.com.

About Dussur
The Saudi Arabian Industrial Investments Company (“Dussur”) – owned by the Saudi Arabian Public Investment Fund, Saudi Aramco and SABIC – is a strategic industrial investment company that partners with world-class experts to form joint ventures to the cutting edge of technology. includes mergers and acquisitions in industrial sectors. Dussur makes regional and international industrial investments that create value for its partners and shareholders. Learn more about www.dussur.com.

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