LOD, Israel, July 2, 2024 /PRNewswire/ -- Massivit 3D Printing Technologies (TASE: MSVT), a leading provider of industrial 3D printing systems, has signed a strategic cooperation agreement with Sika Deutschland GmbH ("SIKA"). Under this agreement, SIKA's materials will be printed for the first time on Massivit's 3D printer, the Massivit 10000, and marketed under joint branding starting in the second half of 2024.
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Massivit estimates that the cooperation with SIKA will increase the number of potential customers, the use of printers, and the consumption of printing materials. Additionally, this partnership will help the company penetrate additional markets through the diverse range of materials available from SIKA.
Erez Zimerman, CEO at Massivit: "Our strategic cooperation with SIKA, renowned for their high-quality materials, marks a significant milestone for Massivit. In the 3D printing industry, high-quality materials are essential for penetrating new markets. This collaboration with SIKA, a global leader in its field, will help us reach a new potential customer base as well as offer our existing customers the best available materials for 3D printing."
The agreement details the cooperation between the companies, regulating the joint branding, production, supply, and sale of printing materials, and it stipulates, among other things, the following:
The printed materials will be branded and marketed under the brand names SikaBiresin®CIM and MASSIVIT.
Massivit will sell & market the co-branded materials for use with its Massivit printers.
The printers using these materials will be branded with the logo "Powered by SikaBiresin®".
SIKA is a global Swiss conglomerate founded over 100 years ago. It is listed on the Swiss Stock Exchange with an estimated market value of approximately 40 billion Swiss Francs and an annual sales volume of approximately 11 billion Swiss Francs. SIKA operates in the construction and waterproofing industry and is engaged in the development and production of various materials for industrial applications including composite materials - a market that Massivit is penetrating.
The Massivit 10000, based on "Cast in Motion" technology, offers rapid printing of molds and tools using specialized materials suited to diverse industries. To date, this technology has been adopted by the automotive, marine, advertising, and entertainment industries, to name a few. The collaboration with SIKA will expand the range of printable materials using the Massivit 10000, helping customers shift from traditional methods to modern 3D printing solutions.
The signing of this agreement coincides with significant company business development activities that have taken place in recent months, such as sales of printers to leading companies worldwide in various sectors:
Japanese company Tsujikawa purchased a Massivit 10000 printer. This is the third purchase of a Massivit printer by this customer that previously purchased two Massivit 1800 printers. Tsujikawa operates in the marketing and advertising markets.
Bombardier, a Canadian manufacturer of business jets, purchased a Massivit 1800 printer. Bombardier will use this printer to produce prototypes and interior parts for its Aviation Division.
Navistar, one of the largest truck and bus manufacturers in the USA, owned by the Volkswagen Group, purchased a Massivit 5000 printer.
Additionally, the company successfully launched the Massivit 3000 printer, capable of printing large objects quickly and at a competitive entry price. This will enable the company to attract more potential customers from the advertising and marketing industry that previously may not have been able to afford to adopt Massivit's technology due to the cost of its printers.
The Massivit 3000 printer was launched during drupa, the world's largest international printing industry exhibition. It generated significant interest, and as a result, the company received 15 new orders during the exhibition, which the company intends to supply by the end of 2024.
About Massivit 3D Printing Technologies Massivit 3D Printing Technologies is a pioneer in large-volume 3D printing solutions for the automotive, marine, rail, furniture, and advertising markets. The company's solutions enable the cost-effective production of molds and models at unprecedented speed, utilizing industrial materials. Its vision is to shift the production of large objects from traditional and outdated methods to digital manufacturing through rapid 3D printing while using industrial materials. The company was founded in 2013 by a team of experts led by Gershon Miller, founder of Objet Geometries. The company's headquarters is in Lod, Israel, where it serves the global markets through an extensive network of distributors.
For additional information, please contact: Avi Cohen VP Global Sales & Marketing Massivit Email: avi@massivit.com
