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NORTHRIDGE, CA--November 28, 2000 - Soligen Technologies, Inc. (OTC BB:SGTN),
a rapid manufacturer of complex metal parts using proprietary technology, and
Generis GmbH of Augsburg Germany announced today that they signed a memorandum
of understanding to collaborate in development and marketing of equipment to
automatically create molds for metal casting.
Soligen, the worldwide exclusive licensee of MIT for 3D-Printing Patents in the metal casting field of use, will sublicense Generis rights to develop, manufacture and market devices and methods for production of resin bound sand molds for metal casting, made directly from computer data. Generis will appoint Soligen the exclusive distributor of Generis Products in North America. The two companies agreed to establish a demo and application center for Generis products in North America to be located at Soligen's foundry in Santa-Ana, California. The first Generis GS 1500 machine is expected to be installed at Soligen's Santa-Ana facility in June of 2001.
"The Generis technology augments our DSPC technology," said Yehoram Uziel, Soligen's CEO. "It promises to produce sand casting molds using commercially available dry sand and foundry binders. Our DSPC machines use different ceramic powder and binders, which are compatible with plaster and investment casting. With the two technologies operating side-by-side, we will offer a wider selection of casting solutions."
"We are excited about the opportunity to market the Generis machinery to foundries in North America," said Gary Kanegis, Soligen V.P. of Sales. "The use of ordinary foundry materials makes the Generis product attractive to foundries. Having Generis machines operating in foundries will highlight and emphasize the benefits of computer generated casting molds, as established and demonstrated by Soligen since the debut of our DSPC."
"Generis is looking forward to benefit from Soligen's experience in the foundry and rapid prototyping industry," said Rainer Hochsmann, Managing Director of Generis. "Soligen's familiarity with the foundry industry and their team's successful past experience in capital equipment sales will be key to our success in penetrating the North American market for our equipment".
"The license agreement with Soligen clears the way for Generis to optimize our process avoiding possible intellectual property concerns," said Dr. Ingo Ederer, Managing Director of Generis. "It allows us to focus on commercializing our exciting product with the benefit and support of Soligen's team."
The companies agreed to finalize a binding agreement within 90 days.
Generis, a start-up company in the field of machines for fast and pattern-less production of molds for metal casting, is located in Augsburg Germany and has a staff of 23. The GS 1500 is being developed for production of resin bound sand molds directly from computer data for metal casting. Generis plans to display the first prototype GS 1500 at Euromold 2000 starting November 29, 2000 in Frankfurt Germany. GS 1500 is unique in using typical foundry materials and in its building volume, which promises significant improvement in molds productivity. Generis plans two Beta sites in Germany in early 2001 with commercial installations of additional GS 1500 in Germany later in 2001.
Soligen is able to rapidly manufacture cast metal parts, bypassing the traditional need for tooling, by employing Soligen's DSPC® technology. The DSPC technology is a proprietary fabrication process for metal parts that produces ceramic molds for metal castings directly from a CAD file. Consequently, it enables postponement of design and the fabrication of expensive and time consuming casting tooling until after the parts are functionally tested, thus increasing the probability of making production tooling once and correctly on the first attempt. Additionally, Soligen rapidly produces production tooling for larger runs of metal castings from the same CAD file as the approved part. By combining three key production elements: DSPC® technology, conventional casting methods, and Computerized Numerical Control (CNC) machining practices, the Company has created the first "one stop shop" for functional metal parts that are made directly from a CAD file and that are ready for assembly. This complete service, trademarked as Parts Now®, has become a single source for rapidly manufactured metal parts.
DSPC® and Parts Now® are registered trademarks of Soligen.
Except for the historical information herein, the matters discussed
in this news release include forward-looking statements that may involve a number
of risks and uncertainties. Actual results may vary significantly based on a
number of factors, including, but not limited to, risks in product and technology
development, market acceptance of new products and continuing product demand,
the impact of competitive products and pricing, changing economic conditions,
both here and abroad, timing of development and release of new products by strategic
suppliers and customers, the effect of the Company's accounting policies and
other risk factors detailed in the Company's most recent annual report and other
filings with the Securities and Exchange Commission.
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1 (818) 718-1221 | yehoram@PartsNow.com |
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+49 (0) 821 74.83.100 | rh@generis.de |
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Generis GmbH |
+49 (0) 821 74.83.100 | ie@generis.de |