(Pardon the resend. The first attempt seemed to get cut off.)
PRESS RELEASE
For Immediate Release
November 14, 1996
Contacts: Frost Prioleau, President/CEO, Plynetics Express
510-613-8300
David Tait, President, Laserform, Inc.
810-373-4400
Plynetics Express to Acquire Laserform
Detroit, MI -- Plynetics Express of San Leandro, CA announced today that it has entered an agreement to purchase Laserform, Inc. of Auburn Hills, Michigan. Laserform is a leading provider of rapid prototyping and rapid tooling services to the automotive industry, with excellent capabilities in large part urethane casting and composite tooling for injection molding. As part of Plynetics Express, Laserform will continue to provide these services, operating as the company's fourth site. Plynetics Express' other facilities are located in San Leandro, California, Schaumburg, Illinois, and Beaverton, Oregon.
The acquisition of Laserform will allow Plynetics Express to provide better service to its nation-wide customer base, and will increase the company's presence in the automotive industry by taking advantage of Laserform's 35,000 square foot state-of-the-art rapid prototyping facility in the Detroit area. Laserform's existing customers will gain access to the broader range of processes and increased capacity provided by Plynetics Express. With the acquisition, Plynetics Express increases its already world-leading rapid prototyping capacity. The company now operates 26 rapid prototyping systems, more than any other rapid prototyping service provider. The large capacity allows Plynetics Express to consistently offer the shortest leadtimes, and to execute large, multi-part prototyping projects more rapidly.
Plans for the Auburn Hills site include expanding Laserform's rapid prototyping capabilities, adding computer numerically controlled (CNC) part and toolmaking capabilities, increasing employment, and implementing the project management systems currently in place at Plynetics Express' other sites.
Plynetics Express provides a broad array of rapid prototyping and tooling services, including stereolithography, selective laser sintering, fused deposition modeling, CNC machining, urethane casting, and prototype injection molding from several types of rapidly produced tools. By offering several of the best rapid prototyping and rapid tooling processes available, Plynetics Express is able to tailor solutions to the specific requirements of a customer's prototyping application. This approach minimizes leadtimes and costs, while providing customers with the accuracies and materials required by their specific application.
"We are extremely excited to add Laserform to the Plynetics Express team," says Frost Prioleau, president and CEO of Plynetics Express. "The addition of Laserform provides us immediate access to important capabilities in large-part urethane casting and composite-epoxy tooling for injection molding that will benefit the current customers of Plynetics Express."
David Tait, president of Laserform, Inc. added "Joining Plynetics Express will give us access to additional resources, capacity and expertise that will enhance our service to our customers. We look forward to joining this world class team." Tait will become a Vice President with Plynetics Express responsible for the Auburn Hills operation.
Plynetics Express was formed in August of 1996 as the result of a merger between two industry leaders, Plynetics, a San Leandro, California company and Prototype Express, a Schaumburg, Illinois company. Both companies were established in 1989 and were among the first ten providers of rapid prototyping services. The merger formed the nation's largest provider of rapid prototyping services.
Laserform, also established in 1989, had grown to be a premier provider of rapid prototyping services to the automotive industry. The addition of Laserform employees to Plynetics Express brings total employment to nearly 200.
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