HP, Stratasys terminate 3D printer deal

Stratasys, a leading manufacturer of 3D printers and production systems for prototyping and manufacturing applications, says it has agreed with HP to discontinue their manufacturing and distribution agreement for 3D printers, effective at the end of 2012, Benzinga reports.

Stratasys does not expect the termination of its agreement with HP to have a material impact on its financial results for the current year and intends to work closely with HP to ensure a smooth transition for customers.

“Stratasys has enjoyed a productive relationship with HP and, moving forward, we will continue working towards our goal of achieving broader 3D printer usage worldwide,” says Scott Crump, CEO and chairman of Stratasys.

“As the market for 3D printing technology grows, Stratasys is focused on further developing our independent channel distribution initiatives to expand our distribution reach even further. Our recently-announced merger with Objet will help grow customer awareness of the many opportunities to deploy 3D printing and rapid prototyping techniques and will allow us to implement an even broader distribution channel with a more extensive geographic reach.”

This week, Stratasys announced record second quarter financial results, writes Sys-con. The company reported record revenue of $49.4 million for the second quarter ended 30 June, a 31% increase from the $37.8 million for the same period last year.

“Our results represent another impressive quarterly performance driven by the strong positive growth momentum we continue to observe in our systems and consumables revenue,” adds Crump.

According to Business Journal, HP and Stratasys, in January 2010, said they had a deal to make an exclusive line of 3D printers for HP. They unveiled the first HP-branded 3D printers in April 2010.