3DX Signs Letter of Intent to Acquire Manufacturing Facility/Real Estate
SEATTLE, WA, July 30, 2021 (GLOBE NEWSWIRE) -- via – 3DX Industries, Inc. (DDDX) (the “Company” or “3DX”), a state of the art additive manufacturer specializing in 3D Metal Printing, announced today that it has signed a Letter of Intent to acquire Specialty Metal Works, LLC., which includes a 5 acre land parcel and manufacturing facility.
Specialty Metal Works, LLC (SMW) is a Washington-based part manufacturing company, currently operating out of an 8,400 square foot facility. The acquisition includes 4 CNC Lathes with live tooling, 2 twin turrets, 3 Vertical CNC Milling machines, an Okuma LT 15-MY-W BIG BORE 8 Axis Lathe, a Twin Turret Lathe with 36 tools with Sub-Spindle and a 2021 HAAS VF4SS with a 5 axis control and a TR160 Trunnion along with all tooling and support equipment as well as the land and buildings.
"We are excited to be executing on our business plan via strategic acquisitions. Acquiring Specialty Metal Works will expand our manufacturing capabilities to offer 5-axis machining to our customers and enhances our ability to post process 3D Metal printed parts,” states Roger Janssen, 3DX President and CEO. “Not only do we significantly increase our ability to manufacture parts, we are adding an experienced industry veteran in Mr. Bill Fleischer, president of SMW, to the 3DX team. We will now direct our legal and accounting team to begin the process of putting together the official purchase agreement and completing the required due diligence to finalize this acquisition. We expect to make an announcement on the closing of this transaction by early October,” Mr. Janssen added.
The addition of the SMW’s capabilities and facilities nearly doubles the manufacturing capacity of 3DX Industries, Inc. and allows the company to participate in the larger contract bids available as companies look to source American-based manufacturers for their projects.
About the Company: 3DX Industries, Inc. is focused on the additive metal manufacturing segment within the manufacturing industry. 3DX has the capability of manufacturing a wide variety of products using its 3D metal printing system, 3D plastic printing as well as more traditional methods of precision manufacturing. 3DX offers additive and traditional manufacturing services as well as product design, engineering and assembly services to its customers.
About Specialty Metal Works: Specialty Metal Works, LLC is a Production CNC Manual & Fabrication Job Shop specializing in machining castings, Automotive Serpentine Belt Pulleys, Food processing equipment, Marine components, Heat Exchangers, Industrial Elevator & Crane components, & concrete processing equipment. Specialty Metal Works has extensive experience in multi axis manufacturing.
Safe Harbor: 3DX encourages those interested in our Company to rely only on information included in our filings. Statements released by 3DX Industries, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
For additional information please contact:
3DX Industries, Inc.
6920 Salashan Parkway Suite D-101
Ferndale WA 98248
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