ROCK HILL,3D Systems Corporation, a provider of 3-D printing, prototyping and manufacturing solutions, is moving its headquarters to Rock Hill.
3D Systems (Nasdaq: TDSC) is currently based in Valencia, CA.
The firm said it would close its headquarters in Valencia as well as another facility in Grand Junction, CO. An advanced research facility will be maintained in Valencia.
The new facility covering 75,000 square feet will be completed by Sept. 30 of next year. In the meantime, 3D Systems said it would establish an interim presence in Rock Hill.
Many of the firm’s 145 employees are expected to transfer.
“The decision to move to the greater Charlotte area was made after an extensive and thorough review of a number of locations and a variety of key operating and strategic factors that included meeting our growth and expansion requirements within a business-friendly environment, achieving sustained operating-cost reductions in a competitive region of the country, improving employee development and recruitment costs and employee retention by becoming an employer of choice in the Charlotte region, and locating in closer proximity to our customers, partners and suppliers,” said Abe Reichental, 3D Systems’ president and chief executive officer, in a statement.
The move will save 3D Systems considerable money, Reichental added.
“In addition to other significant operational and strategic improvements, we expect to realize facilities’ and operating-cost savings in excess of $2.5 million per year beginning in 2007, our first full year of planned operations in the Charlotte area,” he said. “South Carolina will provide us with a favorable business climate, significant investment and tax benefits and a sustained lower cost of doing business. These savings should provide a substantial return on the investment we expect to incur in up-front moving and exit costs and translate into long-term improvements in profitability.”
In its quarterly financial report also released Thursday, 3d Systems reported revenues of $32.3 million for the third quarter and a profit of $700,000. It posted revenues of $29.7 million and a $1.7 million profit in the same quarter of 2004.
3D Systems shares traded at $18.25, up 90 cents, in Thursday afternoon trading.
3D Systems: www.3dsystems.com