NORTH HUNTINGDON, PA, March 3, 2014 – The ExOne Company (NASDAQ: XONE) (“ExOne” or “the Company”), a global provider of three-dimensional (“3D”) printing machines and printed products to industrial customers, announced that Timothy R. Pierce has joined the Company effective March 3, 2014 as U.S. Chief Operating Officer.
David Burns, President and Chief Operating Officer of ExOne commented, “With the addition of Tim, we are further building our team to execute our growth strategy. We have much to accomplish as we expand production operations in the U.S., support a growing installed base of machines, and increase our material offerings. While Tim’s focus will be in the U.S., he also brings extensive global operational experience to our leadership team. We believe he will thrive in our very dynamic environment and enhance the structure and disciplines needed as we grow. We expect Tim’s expertise and leadership will help advance our strategy to further penetrate industrial markets with our distinctive binder jetting technology for 3D direct metal printing and indirect sand casting applications.”
Mr. Pierce most recently served as Vice President Global Supply Chain for 3i, a division of Biomet, and prior to that as Vice President of Global Operations with Laird Technology. Earlier in his career, Mr. Pierce was with Owens Corning in progressively advancing leadership roles which included Managing Director Asia and Director of Manufacturing OEM. During his tenure there he also served as General Manager of a start-up operation in Shanghai. Mr. Pierce began his career as an industrial engineer with Armstrong World Industries where he advanced to General Manager of an operation in China. Mr. Pierce received a B.S. in Industrial Engineering from Pennsylvania State University and an M.B.A. in Finance from Babson College.
ExOne is a global provider of 3D printing machines and printed products, materials and other services to industrial customers. ExOne’s business primarily consists of manufacturing and selling 3D printing machines and printing products to specification for its customers using its in-house 3D printing machines. ExOne offers pre-production collaboration and print products for customers through its seven production service centers (“PSCs”), which are located in the United States, Germany and Japan. ExOne builds 3D printing machines at its facilities in the United States and Germany. ExOne also supplies the associated materials, including consumables and replacement parts, and other services, including training and technical support, necessary for purchasers of its machines to print products.
Safe Harbor Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “typically,” “anticipates,” “believes,” “appears,” “could,” “plan,” and other similar words. Such statements include, but are not limited to, statements concerning future revenue and earnings, involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, which include our ability to qualify more materials in which we can print; the availability of skilled personnel; the impact of increased operating expenses and expenses relating to proposed acquisitions, investments and alliances; our strategy, including the expansion and growth of our operations; the impact of loss of key management; our plans regarding increased international operations in additional international locations; sufficiency of funds for required capital expenditures, working capital, and debt service; the adequacy of sources of liquidity; expectations regarding demand for our industrial products, operating revenues, operating and maintenance expenses, insurance expenses and deductibles, interest expenses, debt levels, and other matters with regard to outlook; demand for aerospace, automotive, heavy equipment, energy/oil/gas and other industrial products; the scope, nature or impact of acquisitions, alliances and strategic investments and our ability to integrate acquisitions and strategic investments; 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 effect of litigation and contingencies; the impact of disruption of our manufacturing facilities or PSCs; the adequacy of our protection of our intellectual property; material weaknesses in our internal control over financial reporting and other factors disclosed in the Company’s Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission. Because they are forward-looking, these statements should be evaluated in light of important risk factors and uncertainties.
Should one or more of these risks or uncertainties materialize, or should any of ExOne’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.
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