RedEye On Demand, a business unit of Stratasys, Inc. (NASDAQ: SSYS), has been named Emerging Manufacturer of the Year as part of the 2012 Minnesota Manufacturing Awards. The company is recognized by Minnesota Precision Manufacturing Association and Minnesota Business Magazine for its accomplishment in creating a revolutionary alternative to traditional manufacturing by building a factory of the future. The factory gives companies in all industries and markets the ability to manufacture globally through the internet using additive manufacturing (3D printing) technologies and processes.
Founded in 2005, RedEye On Demand has already become the world’s largest provider of rapid prototyping and direct digital manufacturing (DDM) services. With a 45,000 square foot factory based in Minnesota housing more than 100 industrial 3D printers, RedEye On Demand is the world’s single largest additive manufacturing facility, and has more than double the capacity of the nearest competitor. Additionally, the company operates more than 130 Fused Deposition Modeling (FDM) additive manufacturing systems globally, making it the most advanced 3D printing service organization in the world.
Award winners were selected by a panel of nine executive-level judges who work in or serve the manufacturing industry. The Emerging Manufacturer of the Year was chosen based on a series of criteria including:
- Years in business (less than 10 years required)
- Percentage increase in revenues, capital investment and total employment from 2010 to 2011.
- Forecasted increase in revenues for next three years
- Programs to attract, retain or train employees
- Efforts to increase productivity and quality
- New services or product development efforts
“The Minnesota Manufacturing Awards program has created a standard of achievement in a sector that is extremely important to the state’s economy,” said Jaime Nolan, CAE, executive director at Minnesota Precision Manufacturing Association. “RedEye On Demand represents the best of the best in being a leader in their space and was selected because of their outstanding achievements and success, and especially in a difficult economic time when so many other firms were struggling to stay afloat.”