NORTH HUNTINGDON, Pa. — (BUSINESS WIRE) — May 15, 2019 — The ExOne Company (Nasdaq: XONE) (“ExOne” or the “Company”), a global provider of three-dimensional (“3D”) printing machines and 3D printed and other products, materials and services to industrial customers, announced that its Board of Directors has elected John F. Hartner as Chief Executive Officer. Mr. Hartner succeeds S. Kent Rockwell, who retains the role of Chairman of the Board of Directors. Mr. Hartner joined the Company as Chief Operating Officer in November 2018.
S. Kent Rockwell stated, “John is an outstanding leader and has proven to be a strong addition to our global leadership team. In his new role, he will lead the organization in the execution of our strategic initiatives that focus on profitable growth. These include expanding binder jetting applications, broadening our machine platform range and growing our recurring revenue base.”
Prior to joining ExOne, Mr. Hartner led industrial technology companies around the world for 30 years in the electronics, cleantech, automation and digital printing industries. For almost half of his career, he lived and worked in Asia and Europe. In 2017, Mr. Hartner founded Digital Industrialist LLC, a company that advises and invests in digital manufacturing businesses. From 2015 to 2017, he served as Chief Operating Officer of EnvisionTEC, a healthcare 3D printing leader. Previously, Mr. Hartner had a nearly 15-year career leading business units of Dover Corporation, rising to the role of President and CEO of the Dover Printing & Identification Segment. Prior to that, he served in various leadership roles with FMC Technologies and Rockwell International. Mr. Hartner received an M.B.A. from the University of Chicago and a B.S. in Mechanical Engineering from Villanova University.
ExOne is a global provider of 3D printing machines and 3D printed and other products, materials and services to industrial customers. ExOne's business primarily consists of manufacturing and selling 3D printing machines and printing products to specification for its customers using its installed base of 3D printing machines. ExOne’s machines serve direct and indirect applications. Direct printing produces a component; indirect printing makes a tool to produce a component. ExOne offers pre-production collaboration and print products for customers through its network of ExOne Adoption Centers (“EACs”). ExOne also supplies the associated materials, including consumables and replacement parts, and other services, including training and technical support that is necessary for purchasers of its 3D printing machines to print products. The Company believes that its ability to print in a variety of industrial materials, as well as its industry-leading volumetric output (as measured by build box size and printing speed), uniquely position ExOne to serve the needs of industrial customers.
Safe Harbor Regarding Forward Looking Statements
This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to the Company’s future financial or business performance, strategies, or expectations. Forward-looking statements typically are identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “goal,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” as well as similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could” and “may.”
The Company cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made and the Company assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.
In addition to risk factors previously disclosed in the Company’s
filings with the U.S. Securities and Exchange Commission (the “SEC”),
including its Annual Report on Form 10-K, the following factors, among
others, could cause results to differ materially from forward-looking
statements or historical performance: the Company’s ability to
consistently generate operating profits; fluctuations in the Company’s
revenues and operating results; the Company’s competitive environment
and its competitive position; ExOne’s ability to enhance its current
three-dimensional (“3D”) printing machines and technology and
develop new 3D printing machines; the Company’s ability to qualify
more industrial materials in which it can print; demand for ExOne’s
products; the availability of skilled personnel; the impact of loss
of key management; the impact of market conditions and other factors on
the carrying value of long-lived assets; the Company’s ability to
continue as a going concern; the impact of customer specific terms in
machine sale agreements on the period in which the Company recognizes
revenue; risks related to global operations including effects of foreign
currency; the adequacy of sources of liquidity; the amount and
sufficiency of funds for required capital expenditures, working capital,
and debt service; dependency on certain critical suppliers; nature or
impact of alliances and strategic investments; reliance on critical
information technology systems; the effect of litigation,
contingencies and warranty claims; liabilities under laws and
regulations protecting the environment; the impact of governmental laws
and regulations; operating hazards, war, terrorism and cancellation or
unavailability of insurance coverage; the impact of disruption of the
Company’s manufacturing facilities or EACs; the adequacy of ExOne’s
protection of its intellectual property; and expectations regarding
demand for the Company’s industrial products, operating revenues,
operating and maintenance expenses, insurance expenses and deductibles,
interest expenses, debt levels, and other matters with regard to outlook.