- 3D Printing now mainstream among 75% of mid-sized
manufacturers polled, yet more flexibility needed to meet demands
for quality, personalization and sustainability
- 84% expect investments in 3D printing to increase revenues
or decrease costs
- 95% of survey respondents report uptick in
high-mix/low-volume production and outsourced manufacturing
requests
- Increased adoption fuels growing need for software-driven,
end-to-end manufacturing
Shapeways, a leading global digital manufacturing platform
driven by proprietary software, today announced the results of a
manufacturing stakeholder survey that reinforces the continued
growth of 3D printing (“3DP”) with three-quarters of those polled
reporting extensive or exclusive use of additive manufacturing for
volume production. This mainstream use of 3DP for production
manufacturing is closely tied to a major shift in customer
expectations, resulting in higher demands for quality,
sustainability and personalization.
“Significant adoption of 3D printing for different production
requirements is a strong indicator of increased digital
manufacturing transformation,” said Miko Levy, Chief Revenue
Officer at Shapeways. “To reach its full potential, however, the
industry needs to continue shifting more toward the use of digital,
end-to-end manufacturing processes that enable product design
innovations and speed time to market while reducing upfront and
inventory costs.”
Shapeways commissioned third-party research firm, Dimensional
Research, to conduct The State of 3D Printing survey in July 2021.
Dimensional Research polled more than 300 qualified individuals
from mid-sized manufacturers across the automotive, aerospace,
robotics, medical device and industrial manufacturing sectors.
According to those polled, the top five changes in customer
expectations over the past three years include: higher demands for
quality (53%), increased expectations for sustainable solutions
(47%), more frequent design changes (45%), desire for
personalization and high levels of customization (43%) and
continual cost reductions (40%).
This latest 3DP survey reinforces ongoing efforts to transform
the traditional manufacturing market, which is slow, manual and
rigid. Thanks to advances in digital production technologies,
software and materials, manufacturers of all sizes are positioned
to meet growing demands for faster deliveries, lower costs and
greater agility in adapting to changing customer needs and market
dynamics.
For example, 95% of the survey respondents cited an increase in
customer requests for high-mix, low-volume production runs, with
more than half reporting a significant increase (25% to 100%) and
17% stating dramatic requests (doubled or more), respectively. Most
of the survey respondents (72%) are more likely to outsource
low-volume production runs to gain much-needed proof points before
committing to specific machines or technologies.
COVID-19 Accelerated 3DP Investments
Of those polled, 87% concurred that major pandemic-related
supply chain disruptions accelerated 3DP investments, while 63%
strongly agreed that their organization is gaining confidence in
3DP at scale. Expected benefits from 3DP investments range from
greater design flexibility (70%), faster speed to market (68%) and
improved labor efficiency (64%) to increased asset utilization
(57%) and reduced inventory costs (46%).
Most important, 84% of the survey respondents expect these
investments to impact corporate profits over the next decade by
increasing revenues or decreasing costs. About half of those
participants (43%) anticipate a transformative impact of more than
20% annually while 41% predict a significant impact of 5% to 20%
annually.
Bullish about 3DP’s Future Despite Persistent
Barriers
Survey participants predicted positive momentum for the use of
3DP in manufacturing; 55% predict it will replace existing
processes while 28% plan to use 3DP as another option in their
manufacturing toolbox. Executives are even more bullish, with 68%
of those polled agreeing that 3DP is the future of
manufacturing.
Still, barriers to adoption persist, especially in managing the
shared data repositories, applications and tools needed to
streamline additive manufacturing processes. Almost three quarters
of those surveyed rely on more than five different applications to
guide additive manufacturing processes with minimal data sharing or
workflow integration. Shapeways’ purpose-built software and
end-to-end manufacturing capabilities enable customers of all sizes
to transform digital designs into physical products with speed and
agility.
On April 28, 2021, Shapeways entered into a definitive agreement
with Galileo Acquisition Corp. (NYSE: GLEO), a special purpose
acquisition company, related to a proposed business combination
between Galileo and Shapeways. Upon the closing of the transaction,
the combined company will be named Shapeways Holdings, Inc. and is
expected to remain listed on the NYSE under the new ticker symbols
“SHPW” and “SHPW.WS.”
On August 16, 2021, Galileo filed a registration statement (the
“Registration Statement”) on Form S-4/A with the U.S. Securities
and Exchange Commission (“SEC”) that includes a preliminary joint
proxy statement/consent solicitation/prospectus in connection with
the proposed business combination (the “Transaction”), which is
available on the SEC website at www.sec.gov.
About Shapeways
Shapeways’ digital manufacturing platform offers customers
access to high-quality manufacturing from start to finish through
automation, innovation and digitization. The company’s
purpose-built software, wide selection of materials and
technologies, and global supply chain lower manufacturing barriers
and speed delivery of quality products. Shapeways’ digital
manufacturing services have empowered more than one million
customers worldwide to produce more than 21 million parts using 11
different technologies and 90 different materials and finishes.
Headquartered in New York City, Shapeways has ISO 9001-compliant
manufacturing facilities in Long Island City, N.Y., and the
Netherlands and a network of innovative partners around the globe.
It was founded in 2008 and spun-out of the Lifestyle Incubator of
Royal Philips Electronics in 2010. Investors include Lux Capital,
Union Square Ventures, Andreessen Horowitz, INKEF Capital, Index
Ventures and Hewlett Packard Ventures.
About Galileo
Galileo Acquisition Corp. raised $138 million in October 2019
and its securities are listed on the New York Stock Exchange under
the ticker symbols “GLEO.U,” “GLEO” and “GLEO.WS.” Galileo is a
blank check company organized for the purpose of effecting a
merger, capital stock exchange, asset acquisition, or other similar
business combination with one or more businesses or entities with
an initial focus on targets operating in the Consumer, Retail, Food
and Beverage, Fashion and Luxury, Specialty Industrial, Technology
or Healthcare sectors which are headquartered in Europe or North
America, and that have a European and North American market nexus.
Galileo is led by a serial SPAC sponsor team having successfully
completed four business combinations, in addition to Shapeways. Its
team is composed by seasoned dealmakers with diverse nationalities,
M&A, principal investing and public company operating
experience in both the North American and Western European
markets.
Forward-Looking Statements
This release contains, and certain oral statements made by
representatives of Galileo and Shapeways and their respective
affiliates, from time to time may contain, “forward-looking
statements” within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995. Galileo’s and
Shapeways’ actual results may differ from their expectations,
estimates and projections and consequently, you should not rely on
these forward-looking statements as predictions of future events.
Words such as “expect,” “estimate,” “project,” “budget,”
“forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,”
“should,” “believes,” “predicts,” “potential,” “might” and
“continues,” and similar expressions are intended to identify such
forward-looking statements. These forward-looking statements
include, without limitation, Shapeways’ expectations with respect
to the Transaction, and the expansion of Shapeways’ operations and
offerings. These forward-looking statements involve significant
risks and uncertainties that could cause actual results to differ
materially from expected results. Most of these factors are outside
the control of Galileo and Shapeways and are difficult to predict.
Factors that may cause such differences include, but are not
limited to: (1) the occurrence of any event, change or other
circumstances that could give rise to the termination of the Merger
Agreement; (2) a default by one or more of the investors in the
PIPE on its commitment, and Galileo's failure to retain sufficient
cash in its trust account or find replacement financing in order to
meet the $100,000,000 minimum cash condition in the Merger
Agreement; (3) the inability to consummate the Transaction,
including due to failure to obtain approval of the shareholders of
Galileo or other conditions to the closing in the Merger Agreement;
(4) delays in obtaining or the inability to obtain any necessary
regulatory approvals required to complete the Transaction; (5) the
inability to obtain the listing of Galileo’s securities on NYSE
following the Transaction; (6) the risk that the Transaction
disrupts current plans and operations as a result of the
announcement and consummation of the Transaction; (7) the ability
to recognize the anticipated benefits of the Transaction, which may
be affected by, among other things, competition, the ability of
Shapeways to grow and manage growth economically and hire and
retain key employees; (8) costs related to the Transaction; (9)
changes in applicable laws or regulations; (10) the effect of the
COVID-19 pandemic on Galileo or Shapeways and their ability to
consummate the Transaction; (11) the possibility that Galileo or
Shapeways may be adversely affected by other economic, business,
and/or competitive factors; (12) market and consumer acceptance of,
and changes in demand for, Shapeways’ offerings; (13) the
effectiveness of any new quality control mechanisms; and (14) those
factors discussed in Galileo’s Registration Statement, under the
heading “Risk Factors,” and in other filings with the SEC made by
Galileo or Shapeways. Galileo and Shapeways caution that the
foregoing list of factors is not exclusive, and caution readers not
to place undue reliance upon any forward-looking statements, which
speak only as of the date made. None of Galileo or Shapeways
undertakes or accepts any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
to reflect any change in its expectations or any change in events,
conditions or circumstances on which any such statement is based,
subject to applicable law.
Readers are referred to the most recent reports filed with the
SEC by Galileo. Readers are cautioned not to place undue reliance
upon any forward-looking statements, which speak only as of the
date made, and Galileo undertakes no obligation to update or revise
the forward-looking statements, whether as a result of new
information, future events or otherwise.
Information Sources; No Representations
The information in the release does not purport to be
all-inclusive. The information therein is derived from various
internal and external sources, with all information relating to the
business, past performance, results of operations and financial
condition of Galileo derived entirely from Galileo and all
information relating to the business, past performance, results of
operations and financial condition of Shapeways derived entirely
from Shapeways. No representation is made as to the reasonableness
of the assumptions made with respect to the information therein, or
to the accuracy or completeness of any projections or modeling or
any other information contained therein. Any data on past
performance or modeling contained therein is not an indication as
to future performance.
No representations or warranties, express or implied, are given
in respect of this release. To the fullest extent permitted by law
in no circumstances will Galileo or Shapeways, or any of their
respective subsidiaries, affiliates, shareholders, representatives,
partners, directors, officers, employees, advisors or agents, be
responsible or liable for any direct, indirect or consequential
loss or loss of profit arising from the use of this release, its
contents, any omissions, reliance on information contained within
it, or on opinions communicated in relation thereto or otherwise
arising in connection therewith, which information relating in any
way to the operations of Shapeways has been derived, directly or
indirectly, exclusively from Shapeways and has not been
independently verified by Galileo.
Important Information About the Transaction and Where to Find
It
In connection with the proposed Transaction, Galileo has filed
the Registration Statement with the SEC, which includes a
preliminary proxy statement/prospectus of Galileo, as may be
amended from time to time. Galileo will mail a definitive proxy
statement/prospectus and other relevant documents to its
shareholders.
INVESTORS AND SECURITY HOLDERS OF GALILEO ARE URGED TO READ THE
REGISTRATION STATEMENT ON FORM S-4/A, WHICH WAS FILED WITH THE SEC
ON AUGUST 16, 2021 AND INCLUDES A PRELIMINARY JOINT PROXY
STATEMENT/CONSENT SOLICITATION/PROSPECTUS, AND, WHEN AVAILABLE, ANY
AMENDMENTS THERETO, AND THE DEFINITIVE PROXY STATEMENT/PROSPECTUS
IN CONNECTION WITH GALILEO'S SOLICITATION OF PROXIES FOR ITS
SPECIAL MEETING OF SHAREHOLDERS TO BE HELD TO APPROVE THE PROPOSED
TRANSACTION BECAUSE THE PROXY STATEMENT/CONSENT
SOLICITATION/PROSPECTUS CONTAINS AND WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE
PROPOSED TRANSACTION. THE DEFINITIVE JOINT PROXY
STATEMENT/PROSPECTUS WILL BE MAILED TO SHAREHOLDERS OF GALILEO AS
OF A RECORD DATE TO BE ESTABLISHED FOR VOTING ON THE PROPOSED
TRANSACTION.
Shareholders will also be able to obtain copies of the
Registration Statement, including the proxy statement/consent
solicitation/prospectus and any other documents filed by Galileo
with the SEC, free of charge at the SEC's website
(www.sec.gov).
Participants in the Solicitation
Galileo and Shapeways and their respective directors, executive
officers and employees and other persons may be deemed to be
participants in the solicitation of proxies from the holders of
Galileo ordinary shares in respect of the proposed business
combination. Galileo shareholders and other interested persons may
obtain more detailed information regarding the names and interests
in the Transaction of Galileo’s directors and officers in Galileo’s
and Shapeways’ filings with the SEC, including the Registration
Statement. These documents can be obtained free of charge from the
sources indicated above.
Disclaimer
This communication shall not constitute a solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the proposed business combination. This communication
shall not constitute an offer to sell or the solicitation of an
offer to buy any securities pursuant to the proposed transactions
or otherwise, nor shall there be any sale of securities in any
jurisdiction in which the offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended.
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