ARC Group Worldwide, Inc. Announces Record Metal 3D Printing Backlog
DELAND, FL. - ARC Group Worldwide, Inc. ("ARC" and the “Company”) (NASDAQ: ARCW), a leading global provider of advanced manufacturing and 3D printing solutions, announced today a record backlog at 3DMT, its 3D printing division, established in late 2013. Given the growing demand of metal 3D printing, 3DMT’s current sales backlog is now greater than its inception-to-date revenues.
Relatedly, 3DMT recently began production on its new Concept Laser M2 cusing machine. This new metal 3D printer is one of the first machines installed in the United States. While most metal 3D printers have a single laser, the Concept Laser M2 is a dual laser machine and represents some of the latest advancements in metal 3D printing technology. In particular, the dual laser machine materially increases the speed at which a metal printer can produce prototype and full production parts.
3DMT’s record sales backlog and recent printer purchases are being driven by an influx of demand from leading aerospace and other companies at the forefront of the additive manufacturing sector. The majority of orders are for process qualification components; ultimately, these parts will be transitioned into full production level metal 3D printed parts for highly complex precision metal components. Given the current business levels and related capacity utilization at 3DMT, the Company plans to purchase several additional metal 3D printers, with most dedicated to either Titanium, Aluminum, Inconel 625, or Inconel 718 production. In particular, 3DMT is currently in the process of ordering two new metal 3D printers to meet growing demand in the aerospace and defense markets. Notably, this purchase will include a large format machine that will be utilized for Inconel materials.
ARC Chairman and CEO, Jason T. Young, commented, “ARC has been investing in 3DMT for a number of years, and we are encouraged by the momentum in the business. 3DMT has carved out a strong niche in metal 3D printing, and is among the leaders in the sector. In particular, metal 3D printing customers have gravitated to 3DMT given ARC’s experience in material science, metallurgy, and metal powder, as well as its significant investment in the associated technology. Further, the combination of 3DMT having one of the largest independent platforms for metal 3D printing and ARC’s broader manufacturing capabilities, has created a compelling holistic solution for the global manufacturing marketplace.” Mr. Young continued, “In order to maintain quick lead times and high quality, customers aren’t just looking for a manufacturer capable of producing complex metal 3D printed parts, but a single source that can also handle secondary work, finishing, machining, EDM, and material development, all of which ARC offers. While we are still in early days of metal 3D printing, given the design freedom, cost efficiencies, and time savings that this technology offers our customers, we are optimistic about the growth potential for 3DMT over the coming years.”
About ARC Group Worldwide, Inc.
ARC Group Worldwide, Inc., is a leading global advanced manufacturing and 3D printing service provider. The Company offers its customers a compelling portfolio of advanced manufacturing technologies and cutting-edge capabilities to improve the efficiency of traditional manufacturing processes and accelerate their time to market. In addition to being a world leader in metal injection molding, ARC has significant expertise in plastic and metal 3D printing, precision metal stamping, traditional and clean room plastic injection molding, advanced rapid tooling, thixomolding, lean manufacturing, antennas, hermetic seals, robotics, software and flanges and forges.
