Stratasys Transitioning Out of Eden Product Distribution in 2007
MINNEAPOLIS, August 1, 2006 - Stratasys, Inc. (Nasdaq: SSYS) today announced it will discontinue the sale of Eden products on January 1, 2007. Stratasys intends to sell Eden products for the remainder of 2006, and will conduct maintenance until August of 2007 on the systems it has installed, ensuring a seamless transition for its customers. Objet Geometries will assume full responsibility for Eden sales beginning in 2007. The Eden product line is currently distributed by Stratasys for Objet Geometries, based in Israel.
"After evaluating our options to maintain the Eden product line within our family of high-end productivity systems, we have concluded that our best option is to discontinue the distribution of the product line beginning in 2007," said Scott Crump, chairman and chief executive officer of Stratasys. "This action is based on strategic and financial considerations.
"Our intention is to provide a smooth transition for our customers, but going forward, we will focus our efforts on the many growth opportunities presented by our proprietary fused deposition modeling technology. This will include new products targeting 3D printing, traditional rapid prototyping, and the emerging market for rapid manufacturing," Crump concluded.
Stratasys Inc., Minneapolis, manufactures office-based rapid prototyping and manufacturing systems and 3D printers; and offers rapid prototyping and manufacturing parts services. According to Wohlers Report 2006, Stratasys supplied 34 percent of all systems installed worldwide in 2005, making it the unit market leader, for the fourth consecutive year. Stratasys patented the rapid prototyping process known as fused deposition modeling (FDM). The process creates functional models directly from any 3D CAD program using ABS plastic, polycarbonate, and PPSF. The company holds 175 granted or pending rapid prototyping patents globally. Stratasys products are used in the aerospace, defense, automotive, medical, education, electronic, and consumer product industries. The company's systems are also used for rapid manufacturing and rapid tooling applications. Stratasys and FDM are registered trademarks of Stratasys, Inc. Objet and PolyJet are trademarks of Objet Geometries Ltd., and may be registered in certain jurisdictions. For more information on the company, go to Stratasys.com; RedEyeRPM.com; or www.DimensionPrinting.com
Investor Contact:
Shane Glenn
(952) 294 - 3416
sglenn@stratasys.com
Editorial Contact:
Joe Hiemenz
(952) 906 - 2726
jhiemenz@stratasys.com
