UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 31, 2013
The ExOne Company
(Exact name of registrant as specified in its charter)
Delaware | 001-35806 | 46-1684608 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
127 Industry Boulevard North Huntingdon, Pennsylvania |
15642 | |
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (724) 863-9663
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01 Entry into a Material Definitive Agreement
On August 1, 2013, ExOne Holding Deutschland GmbH (ExOne Holding), a wholly-owned subsidiary of The ExOne Company (the Company), entered into an agreement (the Agreement) with the Municipality of Gersthofen, Germany (the Municipality) to purchase certain real property (the Property), from the Municipality for an aggregate amount of 3.0 million Euros. The Agreement contains terms and conditions that are customary for German land purchase agreements of this nature. Additionally, on August 1, 2013, ExOne Holding and the Municipality entered into an agreement pursuant to which the Municipality granted ExOne Holding an option to purchase adjacent parcels of land consisting of 14,319 square meters on the same terms and conditions as those set forth in the Agreement (the Option). The Option expires on December 31, 2016.
ExOne intends to construct a new facility on the land, which will comprise approximately 150,700 square feet of production, warehouse, service and R&D space as well as approximately 27,600 square feet for offices. ExOne will be consolidating its five existing leased facilities in Augsburg which currently occupy an aggregate of approximately 77,500 square feet into the new facility, providing expansion capacity to support its global growth strategy.
The Company has engaged GOLDBECK Süd GmbH (GOLDBECK), a turnkey provider of construction services which focuses on Central Europe, Great Britain, Austria and Switzerland, for the design of its new facility. On July 31, 2013, ExOne GmbH, a wholly-owned subisidary of the Comapny (ExOne GmbH), entered into a letter of intent (LOI), with GOLDBECK pursuant to which ExOne GmbH will reimburse GOLDBECK for all costs and expenses incurred in connection with the design of the new facility. ExOne GmbH also expects to engage GOLDBECK for the construction of the facility. The total cost for the land and the construction of the facility is estimated at approximately $20 million.
Item 9.01 | Financial Statements and Exhibits. |
Exhibit |
Description | |
99.1 | Press Release of The ExOne Company dated August 6, 2013 titled ExOne Announces European Facility Expansion in Gersthofen, Germany. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
THE EXONE COMPANY | ||
By: | /s/ John Irvin | |
John Irvin | ||
Chief Financial Officer |
Dated: August 6, 2013
Exhibit 99.1
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NEWS RELEASE |
127 Industry Boulevard N. Huntingdon, PA 15642 (724) 863-9663
FOR IMMEDIATE RELEASE
ExOne Announces European Facility Expansion in Gersthofen, Germany
Construction of new facility to consolidate existing German operations, creating efficiency and providing platform for strategic growth
NORTH HUNTINGDON, PA, August 6, 2013 The ExOne Company (NASDAQ: XONE) (ExOne or the Company), a global provider of three-dimensional (3D) printing machines and printed products to industrial customers, announced today that it has purchased land and will soon begin construction on a new facility in Gersthofen, Germany, in the district of Augsburg.
Upon completion, which is estimated to occur in the latter half of 2014, the facility will comprise approximately 150,700 square feet of production, warehouse, service and R&D space as well as approximately 27,600 square feet for offices. ExOne will be consolidating its five existing leased facilities in Augsburg which currently occupy an aggregate of approximately 77,500 square feet into its new facility, providing expansion capacity to support its global growth strategy.
Rainer Hoechsmann, General Manager of ExOne GmbH, commented, We were fortunate to secure a strategic location for our new facility, located in an industrial region directly on a German autobahn. This provides easy access to our growing customer base, our vendors, as well as our employees. Consolidating all of our activities, which include production, warehousing, a production service center, an R&D lab, as well as our European headquarters, into a single facility will further improve our efficiency, enhancing our ability to service our customers.
ExOne has engaged GOLDBECK Süd GmbH, a turnkey provider of construction services which focuses on Central Europe, Great Britain, Austria and Switzerland, for the design of its new facility, and expects to engage GOLDBECK for the construction of this facility. Total costs for the land and facilty are estimated at approximately $20 million.
For more information regarding ExOnes operations, visit the Companys website at www.exone.com.
About ExOne
ExOne is a global provider of 3D printing machines and printed products to industrial customers. ExOnes business primarily consists of manufacturing and selling 3D printing machines and printing products to specification for its customers using its in-house 3D printing machines. ExOne offers pre-production collaboration and prints products through Production Service Centers, which are located in the United States, Germany and Japan. ExOne builds 3D printing machines at its facilities in the United States and Germany. ExOne also supplies the associated products, including consumables and replacement parts, and services, including training and technical support, necessary for purchasers of its machines to print products.
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ExOne Announces European Facility Expansion in Gersthofen, Germany
August 6, 2013
Page 2 of 2
Safe Harbor Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as expects, estimates, projects, typically, anticipates, believes, appears, could, plan, and other similar words. Such statements include, but are not limited to, statements concerning future revenue and earnings, involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, which include our ability to qualify more materials in which we can print; the availability of skilled personnel; our strategy, including the expansion and growth of our operations; the impact of loss of key management; our plans regarding increased international operations in additional international locations; sufficiency of funds for required capital expenditures, working capital, and debt service; the adequacy of sources of liquidity; expectations regarding demand for our industrial products, operating revenues, operating and maintenance expenses, insurance expenses and deductibles, interest expenses, debt levels, and other matters with regard to outlook; demand for aerospace, automotive, energy and other industrial products; the impact of disruption of our manufacturing facilities or PSCs; 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 effect of litigation and contingencies; and the adequacy of our protection of our intellectual property, and other factors disclosed in the Companys Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission. Because they are forward-looking, these statements should be evaluated in light of important risk factors and uncertainties.
Should one or more of these risks or uncertainties materialize, or should any of ExOnes underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.
For more information, contact:
Media: | Investors: | |||
Nicole McEwen |
John Irvin | Deborah K. Pawlowski | ||
Marketing Director |
Chief Financial Officer | Kei Advisors LLC | ||
(724) 765-1328 |
(724) 765-1310 | (716) 843-3908 | ||
nicole.mcewen@exone.com | john.irvin@exone.com | dpawlowski@keiadvisors.com |
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