The ExOne Company (Nasdaq: XONE), the global leader in industrial sand and metal 3D printers using binder jetting technology, today announced that its five global facilities remain open to support manufacturing for essential critical infrastructure and emergency needs to combat the ongoing COVID-19 pandemic.
On Monday, ExOne's headquarters and production facility was granted a waiver to Pennsylvania's executive order to close all non-life-sustaining businesses.
ExOne's industrial 3D printers and facilities routinely support mission-critical production for the agriculture, aerospace, defense, energy, and other industries. The company's 3D printers are an essential part of supply chains that ensure continuity of clean water, oil and gas, medical research, as well as supplies to astronauts at the International Space Station, among other vital defense functions.
"We are grateful to the Commonwealth of Pennsylvania for granting ExOne a waiver, so we can continue to support manufacturing operations that are now more critical than ever," said John Hartner, ExOne CEO. "While the COVID-19 pandemic remains fluid, we continue to work diligently to ensure continuity of services to our customers and partners who deliver critical services, while protecting our employees and communities."
ExOne's facilities are now operating with essential staff only, with most others working remotely, and have enacted a number of safety precautions, including social distancing and other actions recommended by the CDC, to protect employees and customers.
Essential Manufacturing Services
ExOne's exclusive binder jetting technology quickly transforms powder materials — including metals, ceramics, composites and sand — into precision parts, metalcasting molds and cores and other innovative tooling solutions. Printable materials include 10 single-alloy metals, six ceramics and five composite materials — including 316L, 304L, copper, titanium, and Inconel 625.
ExOne's production facilities manufacture both industrial 3D printers and 3D printed parts, and our teams have expertise in re-engineering parts for rapid 3D production as well as solving other manufacturing challenges with 3D printing. For rapid metal, ceramic or composite part production, please contact us at www.exone.com/covid19response or 1-877-773-9663.
Transforming Supply Chains Long-term
ExOne is proud to work with the medical, manufacturing, and governmental communities in the historic response to solving critical supply chain challenges during this crisis.
"This crisis demonstrates the critical role 3D printing should play in de-risking supply chains and enabling a distributed manufacturing strategy, closer to the point of use," Hartner said. "During these challenging times, we remain strongly encouraged by high interest in 3D printing, a record backlog, and sufficient liquidity and discipline to carry us through this crisis."
ExOne is the pioneer and global leader in binder jet 3D printing technology. Since 1995, we've been on a mission to deliver powerful 3D printers that solve the toughest problems and enable world-changing innovations. Our 3D printing systems quickly transform powder materials — including metals, ceramics, composites and sand — into precision parts, metalcasting molds and cores, and innovative tooling solutions. Industrial customers use our technology to save time and money, reduce waste, improve their manufacturing flexibility, and deliver designs and products that were once impossible. As home to the world's leading team of binder jetting experts, ExOne also provides specialized 3D printing services, including on-demand production of mission-critical parts, as well as engineering and design consulting. Learn more about ExOne at www.exone.com or on Twitter at @ExOneCo. We invite you to join with us to #MakeMetalGreen™
Safe Harbor Regarding Forward Looking Statements
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the Company's future financial or business performance, strategies, or expectations. Forward-looking statements typically are identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate," "current," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," "seek," "achieve," as well as similar expressions, or future or conditional verbs such as "will," "would," "should," "could" and "may."
The Company cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made and the Company assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.
In addition to risk factors previously disclosed in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC"), including its Annual Report on Form 10-K, the following factors, among others, could cause results to differ materially from forward-looking statements or historical performance: the Company's ability to consistently generate operating profits; fluctuations in the Company's revenues and operating results; the Company's competitive environment and its competitive position; ExOne's ability to enhance its current three-dimensional ("3D") printing machines and technology and develop and introduce new 3D printing machines; the Company's ability to qualify more industrial materials in which it can print; demand for ExOne's products; the availability of skilled personnel; the impact of loss of key management; the impact of market conditions and other factors on the carrying value of long-lived assets; the Company's ability to continue as a going concern; the impact of customer specific terms in machine sale agreements on the period in which the Company recognizes revenue; risks related to global operations including effects of the coronavirus disease COVID-19; foreign currency; the adequacy of sources of liquidity; the amount and sufficiency of funds for required capital expenditures, working capital, and debt service; dependency on certain critical suppliers; nature or impact of alliances and strategic investments; reliance on critical information technology systems; the effect of litigation, contingencies and warranty claims; liabilities under laws and regulations protecting the environment; the impact of governmental laws and regulations; operating hazards, war, terrorism and cancellation or unavailability of insurance coverage; the impact of disruption of the Company's manufacturing facilities or ExOne Adoption Centers ("EACs"); the adequacy of ExOne's protection of its intellectual property; and expectations regarding demand for the Company's industrial products, operating revenues, operating and maintenance expenses, insurance expenses and deductibles, interest expenses, debt levels, and other matters with regard to outlook.
These and other important factors, including those discussed under Item 1A, "Risk Factors" and Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Annual Report on Form 10-K, may cause the Company's actual results of operations to differ materially from any future results of operations expressed or implied by the forward-looking statements contained the Company's Annual Report on Form 10-K. Before making a decision to purchase ExOne common stock, you should carefully consider all of the factors identified in its Annual Report on Form 10-K that could cause actual results to differ from these forward-looking statements.
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