By J. Patrick Fischer, via Wikimedia Commons
ExOne boardmembers have revealed the company has set its sights firmly on the emerging 3D printing markets of Brazil and China to further advance its 3D printing operations.
After releasing its impressive first-quarter revenues yesterday (May 14th), ExOne's bosses convened for their customary teleconference to discuss the company's financial and operation results and to reiterate guidance for the rest of the year.
During the course of the recorded broadcast, President and Chief Operating Officer (COO) David Burns explained that ExOne is "engaging more in territories in China and Brazil" for expansion.
TCT has covered in recent months how both Brazil and China are ripe for investment potential, so it comes as no surprise a company as ambitious as ExOne is putting its stake in these emerging markets early.
Mr Burns continued that ExOne has opened a business development office in Shanghai and the company is in the process of hiring people to focus on the opportunities in the Asian superpower, making the most of the burgeoning market of potential distributors.
"We feel we need somebody on the ground to focus on our efforts," he remarked.
ExOne says it will be a "major presence" at the Rapid additive manufacturing expo in the US in June, but the week before the company will be making itself known at the Brazilian equivalent FEIMAFE in Sao Paulo.
"We're moving towards achieving a presence in Brazil," Mr Burns noted.
However, the bosses were keen to state that moving in on major economies in the Far East and South America is a major task - and not something that can be done in haste.
Chairman and Chief Executive Officer Kent Rockwell commended his colleague for his forays into the Chinese market in particular, but remarked: "We are not rushing into that market until we have an understanding of that market."
TCT subscribers can get a detailed insight into the workings of ExOne in our next issue, which features an exclusive interview with Mr Burns and Marketing Director Nicole McEwan.