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3DX Industries (DDDX) has successfully acquired Specialty Metal Works, LLC, a CNC and fabrication job shop based in Blaine, Washington. This acquisition aims to enhance 3DX's manufacturing capacity and capabilities, with Specialty Metal Works expected to report revenues beginning November 1, 2021. The integration of SMW's 20 years of expertise in machining and fabrication is seen as a strategic move to support 3DX's growth objectives. The company looks forward to leveraging SMW’s facilities and customer base to accelerate its expansion plans.
3DX Industries Inc. (DDDX) announced a $2,000,000 commitment from RB Capital, bolstering its financial backing for growth in additive manufacturing. The initial $500,000 is received through a 1-Year Convertible Promissory Note at 5% interest, with a fixed conversion price of $0.50, convertible after 12 months. A further $1,500,000 will follow over two years. RB Capital expresses confidence in 3DX's management and innovation in 3D metal printing, aligning with their investment strategy. The partnership aims to enhance 3DX's market position and manufacturing capabilities.
3DX Industries Inc. (DDDX) has opened a new office at the University of Bridgeport’s Innovation Center as of October 1, 2021, aiming to enhance recruitment in engineering and manufacturing sectors. The location will facilitate partnerships with local educational institutions to build a skilled additive manufacturing workforce. Officials have noted plans for expansion in the East Coast area and the potential for acquisition opportunities nearby, emphasizing the importance of this strategic move for future growth.
3DX Industries Inc. (DDDX) announced the addition of key personnel to enhance its management and operational capabilities in the 3D metal printing sector. Notable hires include Charles Lukey, Peter Divone Sr., Chris Camarra, Ken Neal, Levon Barsoumian, and Delvecchio Parks, each bringing extensive experience in manufacturing, engineering, and legal affairs. The company aims to leverage their expertise to advance its Lean Initiative and expand its 3D printing footprint. CEO Roger Janssen emphasized the positive impact these hires will have on the company's growth strategy.
3DX Industries, Inc. (DDDX) has signed a Letter of Intent to acquire Specialty Metal Works, LLC, enhancing its manufacturing capabilities. The acquisition includes a 5-acre parcel and an 8,400 square foot facility, equipped with advanced machinery including 4 CNC Lathes and a 5-axis HAAS VF4SS. This strategic move is expected to nearly double 3DX's manufacturing capacity and position it for larger contract bids as companies seek American manufacturers. Completion of the acquisition is anticipated by early October, following due diligence and the drafting of the purchase agreement.