3D Systems Corporation (NYSE:DDD) is expanding its manufacturing and distribution capacity to meet the growing demand for its 3D printers and materials. According to the company, it signed a lease for a new 200,000 square feet facility in Rockhill, South Carolina.
The new manufacturing and distribution facility is part the company’s expansion program. 3D Systems Corporation (NYSE:DDD) anticipated that it would create hundreds of new jobs over the time.
Themes for the next decade: Cannabis, 5G, and EVs
A lot changes in 10 years, and many changes are expected by the time 2030 rolls around. Some key themes have already emerged, and we expect them to continue to impact investing decisions. At the recent Morningstar conference, several panelists joined a discussion about several major themes for the next decade, including cannabis, 5G and Read More
3D Systems Corporation (NYSE:DDD) emphasized that the move would consolidate and strengthen all of its based manufacturing and distribution support in Rock Hill. It would also support the rapid growth of its 3D printers and materials.
Avi Reichental, president and CEO of 3D Systems Corporation (NYSE:DDD) explained, “Our continued Rock Hill expansion underscores our commitment to localized manufacturing, demonstrating through our actions that what is designed locally can be built locally. This investment is in direct response to the growing demand for our professional printers.”
3D Systems to expand engineering and R&D operations
3D Systems Corporation (NYSE:DDD) is also planning to expand the operations of its R&D and engineering units using the vacant space in its current headquarters building.
The company recently opened its Rock Hill 3D innovation and learning center featuring the growing impact of pioneering advance manufacturing technology in key applications including as aerospace, automotive, medical, education and the 3D-printed lifestyle.
3D Systems Corporation (NYSE:DDD) said the learning center is interactive and displays the company’s entire range of products and solutions as well as the endless possibilities it can create for consumer, resellers and partners worldwide.
3D Systems Corporation (NYSE:DDD) recently acquired Laser Reproductions, but the company did not disclose the terms of the deal. Prior to that, the company bought Symbionix for $120 million,
Potential takeover speculations
Last month, there had been speculations that 3D Systems Corporation (NYSE:DDD) is a potential takeover target. Analysts at Citigroup and RBC Capital Markets dismissed the rumors and emphasized that a potential takeover was unlikely due to the high valuation of the company.
On the other hand, analysts at Alcaraz Equity Research noted that 3D Systems Corporation (NYSE:DDD) has great growth opportunity. The research firm suggested that the company would benefit from consumer robotics. Intel Corporation (NASDAQ:INTC) and Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) is already collaborating with 3D Systems in certain projects.