What is going on with DDDX?
3DX Industries, Inc. (DDDX), a leading 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.
The company did not disclose the price of the transaction, or how it was funded. Shares of DDDX declined 7.6% to $0.0876 as of Monday at 12:22pm.
Specialty Metal Works, LLC (SMW) is a Washington-based part manufacturing company, currently operating out of an 8,400 square foot facility.
What does this mean for 3DX Industries, Inc?
The addition of the SMW’s capabilities and facilities will nearly double the manufacturing capacity of 3DX Industries, an outcome that will allow the company to participate in larger contract bids. Additionally, 3DX will add SMW president Bill Flesicher, an experienced industry veteran, to their team.
"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.
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. The acquisition will also include tooling and support equipment, as well as the land and buildings.
DDDX has a Short-Term Technical Rank of 37. Find out what this means to you and get the rest of the rankings on DDDX!
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3DX Industries Inc is a precision manufacturing company. It manufactures consumer and corporate products using an additive manufacturing method through 3D Metal printing technology and conventional precision manufacturing processes. It also has a full array of CNC precision machining centers capable of high-speed precision milling up to large capacity vertical machining to meet the demanding specifications of clients. Using the composite printing system, offers clients a low-cost quick turnaround option on prototype parts and components for designer review and engineer evaluation prior to final production runs. Geographically, the activities are carried out through the United States.
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