3D Systems Sells Its Grand Junction Colorado Facility

ROCK HILL, S.C. - 3D Systems Corporation (NasdaqGM:TDSC - News), a leading provider of 3-D Printing, Rapid Prototyping and Manufacturing solutions, announced that it completed the sale of its Grand Junction, Colorado facility for $5.5 million. The company received $3.5 million in cash and a secured $2.0 million note due in December 2013 for the remainder of the purchase price.

The sale price exceeded both the $3.5 million of net assets related to the Grand Junction facility that the company held on its balance sheet as well as the $3.1 million of industrial revenue bonds that were outstanding on the facility at the time of sale.

The company fully collaterized the repayment of those industrial developments with a portion of the cash proceeds of the sale and the $1.2 million of restricted cash associated with these bonds. Net of expenses relating to the sale and the amount necessary to fund the redemption of these bonds, the company received approximately $1.1 million of cash net proceeds following the sale.

The company plans to give the required 35-day notice to redeem the outstanding bonds immediately and expects that the remaining outstanding amounts of these bonds will then be redeemed in due course.

``I am pleased that, during this period of unprecedented economic turmoil, we were able to complete the sale of the Grand Junction facility to a respected local company with strong roots in the Grand Junction community,'' commented Abe Reichental, President and CEO of 3D Systems. ``As you know, since we ceased operations in Grand Junction almost two years ago, we have been working diligently to find a buyer who would use the facility to benefit the community. We are deeply grateful to Grand Junction for the support that it has given to 3D Systems over the years. I expect that the completion of this transaction will contribute favorably to the continued decrease of our quarterly expenses and will help strengthen our balance sheet and cash position.''