My news snooper software just dropped this release into my mailbox,
which I thought I'd share with you:
>
> 3D Systems Corporation Announces Management Changes, Sees Lower
> First Quarter Earnings
>
> VALENCIA, Calif., April 18 /PRNewswire/ - 3D Systems Corporation
> (Nasdaq NNM: TDSC) today announced certain management changes.
>
> Richard Balanson, Ph.D., has been elected president and chief
> operating officer, succeeding Charles W. Hull, the company's
> founder, who assumes the newly-created posts of vice chairman and
> chief technology officer. Balanson, 47, who joined the company last
> November, will head manufacturing, product development, worldwide
> field service and international sales, reporting to Arthur B. Sims,
> chairman and chief executive officer. Balanson was also elected to
> the company's board of directors.
>
> Gordon L. Almquist, vice president, finance and chief financial
> officer, and Richard P. Fedchenko, vice president, strategy and
> market development, have resigned to pursue other interests. Edward
> C. Ferrier, the company's corporate controller, has been named
> acting chief financial officer, and on an interim basis U.S.
> marketing will be under the direct supervision of Sims.
>
> While profitable, the company's first quarter earnings will not
> meet analyst estimates. Results will be announced on April 24,
> 1997.
>
> "We are dedicated to improving 3D's operating performance and to
> putting the company on a sound course for the future," Sims stated.
> "In Rich Balanson, we have a dynamic new president, who has
> demonstrated his exceptional talent and leadership since joining us
> last November. He has previously held similar posts in substantial
> high technology companies.
>
> "Rich will be responsible for driving the execution of our
> aggressive plans to spur growth and improve the company's operating
> performance. At the same time, we are immediately launching an
> intensive search to fill our key posts in finance and marketing.
>
> "Also, we are pleased that Chuck Hull will continue to provide
> the company's strategic technical direction, including the
> development of our 3D Keltool rapid tooling business. He founded
> this company in 1986, and his development of our stereolithography
> technology launched an industry that continues to grow in worldwide
> importance."
>
> Prior to joining 3D Systems, Balanson served from 1994 to 1996
> as executive vice president of Maxtor Corporation, a major supplier
> of computer disk drives, where he headed engineering, manufacturing,
> materials, sales and marketing. Previously, he was president and
> chief operating officer of Applied Magnetics Corporation, a major
> OEM components supplier to manufacturers of disk and tape drives.
>
> From 1975 to 1992, he was with IBM, initially in basic research
> in photocopying, lasers and optics. Subsequently as director of the
> Adstar Division, he managed all of IBM's mid-range and high-end disk
> drive development and production, and was responsible for many major
> technological innovations within the industry.
>
> Balanson received a B.S. in chemistry from UCLA, graduating
> summa cum laude and first in the department. He earned his M.S. and
> Ph.D. in organic chemistry from Harvard University.
>
> Sims added: "3D Systems has accomplished several major
> transitions, with others in process. These include the development
> of our direct sales force in the U.S., reorganization in Europe, the
> successful bringing on line of our state-of-the-art new
> manufacturing facility, the development of the industry's broadest
> product line and the ongoing infusion of new talent in the company.
>
> "We are confident of our strategy and our team, and believe that
> our efforts to realize positive change will produce long-term
> benefits for the company."
>
> 3D Systems Corporation develops, manufactures and markets solid-
> imaging systems. In manufacturing, 3D's products fabricate solid
> objects using input from CAD/CAM systems, substantially reducing the
> time and cost of bringing new products to market. Major
> applications include rapid prototyping and tooling for products in a
> variety of manufacturing industries worldwide, including automotive,
> aerospace, medical computer, electronic and consumer products.
>
END OF PRESS RELEASE
------------------------
Yakov Horenstein
Milano, Italy
This archive was generated by hypermail 2.1.2 : Tue Jun 05 2001 - 22:39:31 EEST