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Protolabs to Expand Additive Manufacturing Footprint
Rhea-AI Impact
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Rhea-AI Summary
Protolabs, a global leader in digital manufacturing, has signed an agreement to expand its operations in Raleigh, N.C.. The new facility will span 120,000 sq. ft. and is set to meet the rising demand for 3D printing services. This expansion reflects Protolabs' strong growth in additive manufacturing applications for prototyping and production. Groundbreaking is scheduled for later this month, with expected occupancy by late 2022. The company collaborates with Capital Associates for this development.
Positive
Expansion of 120,000 sq. ft. manufacturing capacity in Raleigh, N.C., enhancing operational capabilities.
Strong demand for 3D printing services indicates positive growth trajectory.
Negative
None.
The second Raleigh-based manufacturing facility is in response to growing demand for the digital manufacturer’s 3D printing services.
MINNEAPOLIS--(BUSINESS WIRE)--
Global digital manufacturing company, Protolabs, has signed an occupancy agreement to expand its additive manufacturing footprint in the Raleigh, N.C., area. Breaking ground later this month, the second location will add 120,000 sq. ft. of manufacturing capacity to its current facility located nearby in Morrisville, N.C. The additional location is in response to growing demand for Protolabs’ 3D printing services.
“We have experienced strong growth in our 3D printing services as more of our customers expand their applications that use additive manufacturing for both prototyping and production,” Mike Kenison, Protolabs general manager and vice president of Americas, said. “The Raleigh community has provided a great home for our additive headquarters, and we look forward to growing our presence in the years ahead.”
Protolabs worked with Capital Associates, a Raleigh-based real estate company, to facilitate the development of the manufacturing facility. Capital Associates will serve as owner of the property, and Protolabs expects to occupy the location by late 2022.
About Protolabs
Protolabs is the world’s leading provider of digital manufacturing services. The e-commerce-based company offers injection molding, CNC machining, 3D printing, and sheet metal fabrication to product developers, engineers, and supply chain teams across the globe. Protolabs serves customers using in-house production capabilities that bring unprecedented speed in tandem with Hubs, a Protolabs Company, which serves customers through its network of premium manufacturing partners. Together, they help companies bring new ideas to market with the fastest and most comprehensive digital manufacturing service in the world. Visit protolabs.com for more information.
Investor Relations Contact:
Protolabs
Dan Schumacher, 763-479-7240
Vice President of Investor Relations and FP&A
daniel.schumacher@protolabs.com
Source: Protolabs
FAQ
What is Protolabs' new expansion in Raleigh, N.C. about?
Protolabs is expanding its operations by adding a new 120,000 sq. ft. manufacturing facility in Raleigh, N.C. to meet rising demand for its 3D printing services.
When will Protolabs' new facility in Raleigh be operational?
Protolabs expects to occupy the new facility by late 2022.
What is driving Protolabs' expansion in Raleigh, N.C.?
The expansion is driven by strong growth in 3D printing services as customers increasingly utilize additive manufacturing for both prototyping and production.
Who is facilitating Protolabs' new manufacturing facility development?
Protolabs is working with Capital Associates, a Raleigh-based real estate company, to facilitate the development of the new manufacturing facility.
How does Protolabs define its position in digital manufacturing?
Protolabs is considered the world's leading provider of digital manufacturing services, including injection molding, CNC machining, and 3D printing.
