Daily Archives: December 12, 2018

Markforged launches H13 tool steel for high-strength, high-temp tooling applications

New material for Metal X 3D printing system is first of many

WATERTOWN, Mass., Dec. 12, 2018 (GLOBE NEWSWIRE) — Markforged, the Boston-area 3D printer company transforming manufacturing, today announced the launch of H13 tool steel for the Metal X, the world’s leading desktop-sized metal printer with over 150 systems shipped since March 2018. The expansion into H13 will enable customers to print parts in high-strength, high-temperature applications such as metal forming tools, dies and punches, and hardened inserts for fixtures, and even injection molds with conformal cooling channels. To learn more about H13 tool steel and place an order, please visit http://markforged.com/h13

Interior of a hardened nozzle printed out of H13 on the Metal X, showcasing printed threads

“We designed the Metal X system to change the way things are made, and the launch of H13 is the next step down that path,” said Jon Reilly, Markforged VP of product. “For manufacturers of high-volume plastic parts this is a game changer, significantly accelerating the speed at which they can bring new products to market.”

H13 is a hot-work tool steel, meaning that it retains high strength at elevated temperatures, and is known for exhibiting excellent red hardness, resistance to thermal fatigue, high toughness, ductility, good abrasion resistance, and excellent through-hardenability. Because H13 can now be 3D printed, manufacturing professionals can begin to print parts with unique and complex geometries, something that traditionally would be very expensive and difficult to do. For example, printing an H13 injection mold that features conformal cooling channels would more effectively move heat away from the mold cavity and provide more uniform cooling, leading to less part-warp, shorter cycle times and higher throughput, and ultimately, lower operational costs.

Exterior of a hardened nozzle printed out of H13, straight out of the sinter, no post-processing.

Since 1982, San Francisco Bay Area-based Grant Engineering has been creating high-quality parts from injection-molded plastics, producing millions of parts per year for their biotech, high tech, and consumer product industry customers. Grant is an early adopter of the Metal X printing system who also utilizes the Mark 2 for printing end-of-arm tooling and fixtures. Since they received their Metal X system, the company has been printing 17-4 stainless steel injection molds successfully, with minimal post-processing. Grant Engineering now hopes to further reduce their iteration time and cost for injection molds printed in H13.

“Injection molding is the core of what we do,” said Randy Grant, co-founder and co-owner of Grant Engineering. “Much like the robots and automation we’ve already introduced into our workflow, we see 3D printing – especially the Metal X – as a way to keep us hyper-competitive on cost and turnaround time while still delivering the precision and quality we’re known for. Being able to 3D print H13 should enable a lot of innovation with injection molding, we can’t wait.”

A selection of parts printed in H13 including wear-resistant inserts for fixtures, punch tooling, press brake fingers and a selection of nozzles.

H13 tool steel – also known as EN 1.2344 and SKD61 in Germany and Japan, respectively – is bookable beginning December 12, 2018, at 229.99 USD per 1kg spool, and will ship no later than March of 2019. This is just the first of several future materials planned for the Metal X, including A2 and D2 tool steel, stainless steel 316L, Inconel, and Titanium.

About Markforged
Markforged transforms manufacturing with the most affordable 3D printers capable of producing parts tough enough for the factory floor. Engineers, designers, and manufacturing professionals all over the world rely on Markforged metal and composite printers for tooling, fixtures, functional prototyping, and high-value end-use production. Founded in 2013 and based in Watertown, MA, Markforged has over 200 employees globally, with $57 million in both strategic and venture capital. Markforged was recently selected by Forbes as one of the Next Billion Dollar startups, and listed as the tenth fastest growing tech company in the US in the 2018 Deloitte Fast 500. To learn more about Markforged, please visit https://markforged.com

Contact information:
Press@markforged.com

Photos accompanying this announcement are available at:

http://www.globenewswire.com/NewsRoom/AttachmentNg/00971eda-3b2b-4ac9-8f85-bc764e642d9a

http://www.globenewswire.com/NewsRoom/AttachmentNg/356dbb62-efb8-4416-bfe0-f86a8caa08ac

http://www.globenewswire.com/NewsRoom/AttachmentNg/a929088d-0b66-4b33-840c-a358f9be6156

WillScot Announces Closing of Warrant Exchange Offer

BALTIMORE, Dec. 11, 2018 (GLOBE NEWSWIRE) — WillScot Corporation (“WillScot”) (NASDAQ: WSC), the specialty rental services market leader providing innovative modular space and portable storage solutions across North America, today announced the closing of its previously announced exchange offer (the “Exchange Offer”) relating to certain outstanding warrants issued in 2015 (the “Warrants”).

Under the terms of the Exchange Offer, each Warrant holder had the opportunity to receive 0.18182 shares of WillScot Class A Common Stock, par value $0.0001 per share (“Common Stock”), for each Warrant tendered by the holder and exchanged pursuant to the Exchange Offer. As of the closing of the Exchange Offer on December 11, 2018, 45,131,827 outstanding Warrants were properly tendered and not withdrawn in the Exchange Offer. 45,031,827 of the Warrants tendered were public warrants, representing approximately 89% of the public warrants, and approximately 100,000 Warrants tendered were private warrants. Pursuant to the terms of the Exchange Offer, WillScot issued 8,205,841 shares of Common Stock in exchange for such Warrants.

24,367,867 Warrants remain outstanding, of which 5,767,866 are public warrants and 18,600,001 are private warrants.

The 10,000,000 warrants issued in connection with WillScot’s acquisition of Modular Space Holdings, Inc. under a warrant agreement dated August 15, 2018, between Continental Stock Transfer & Trust Company, as warrant agent, and WillScot were not subject to this Exchange Offer. Each of these warrants are exercisable for one share of Common Stock at an exercise price of $15.50 per share.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. The words “estimates,” “expects,” “anticipates,” “believes,” “forecasts,” “plans,” “intends,” “may,” “will,” “should,” and variations of these words and similar expressions identify forward-looking statements, which are generally not historical in nature. Forward-looking statements are subject to a number of risks, uncertainties, assumptions and other important factors, many of which are outside our control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Although WillScot believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance that any such forward-looking statement will materialize. Important factors that may affect actual results or outcomes include, among others, our ability to integrate assets and operations that we have acquired; our ability to manage growth and execute our business plan; our ability to realize synergies identified in the ModSpace acquisition, or to realize such synergies as quickly as expected; our estimates of the size of the markets for our products; the rate and degree of market acceptance of our products; the success of other competing modular space and portable storage solutions that exist or may become available; rising costs adversely affecting our profitability; potential litigation involving our company; general economic and market conditions impacting demand for our products and services; implementation of tax reform; our ability to implement and maintain an effective system of internal controls; and such other risks and uncertainties described in the periodic reports we file with the SEC from time to time (including our Form 10-K for the year ending December 31, 2017). Any forward-looking statement speaks only at the date which it is made, and WillScot disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About WillScot Corporation

Headquartered in Baltimore, Maryland, WillScot is the public holding company for the Williams Scotsman family of companies in the United States, Canada and Mexico. The Common Stock trades on the Nasdaq Capital Market under the ticker symbol “WSC.” The Warrants are not currently listed on any exchange or automated dealer quotation system. WillScot is the specialty rental services market leader providing innovative modular space and portable storage solutions across North America. It is the modular space supplier of choice for the construction, education, health care, government, retail, commercial, transportation, security and energy sectors. With over half a century of innovative history, organic growth and strategic acquisitions, its fleet comprises nearly 160,000 modular space and portable storage units, managed through its network of more than 120 locations.

Contact Information

Investor Inquiries:

Mark Barbalato
investors@willscot.com

Media Inquiries:

Scott Junk
scott.junk@willscot.com

Ukraine withdrawal from friendship treaty with Russia destroys Azov Sea negotiations

Ukraine’s termination of the Treaty on Friendship with Russia will make negotiations on preventing provocations in the Azov Sea and the Kerch Strait more difficult, Director of the Russian Center for Current Policy Alexei Chesnakov said Tuesday.

With Kiev’s decision, the treaty on the Sea of Azov and the Kerch Strait is losing its legal basis, Chesnakov said, adding that Ukraine is stripping itself of the right to navigate freely in that region.

The comment came one day after Ukrainian President Petro Poroshenko signed a law terminating the Treaty on Friendship with Russia.

Source: VOV5

Vietnamese Students Association aims to reform operation

The 10th Congress of the Vietnamese Students Association closed on Tuesday, mapping out tasks of reforms to meet national development demands.

During the three-day event, dialogues were held between student delegates and representatives of the government and ministries on a variety of issues such as job generation, soft skill training, and issuance of mechanisms to attract students to participate in scientific research.

A council to support activities of the Student Association and the Association’s Executive Committee made its debut on this occasion.

Bui Quang Huy, the newly elect chairman of the Vietnamese Student Association, said: The new executive committee promise to unite to wholeheartedly work with student members nationwide to implement the Congress’s resolution. We will constantly improve the Association’s activities to meet national requirements and student movements.

The Congress adopted a resolution to build a strong association that fulfills the role of students, improves their lives, and protects their legitimate rights and benefits.

Source: VOV5

Khashoggi, jailed journalists named “Person of the Year”

The US’s Time magazine on Tuesday named a group of journalists, including Saudi reporter Jamal Khashoggi as its Person of the Year, heralding them as guardians of the truth.

Khashoggi was declared dead after entering the Saudi Arabian Consulate General in Turkey in October but his body’s whereabouts is still unknown.

Time magazine also honored the staff of the Capital Gazette newspaper in Annapolis, Mryland, who were attacked by a gunman in June.

Source: VOV5

Khashoggi, jailed journalists named “Person of the Year”

The US’s Time magazine on Tuesday named a group of journalists, including Saudi reporter Jamal Khashoggi as its Person of the Year, heralding them as guardians of the truth.

Khashoggi was declared dead after entering the Saudi Arabian Consulate General in Turkey in October but his body’s whereabouts is still unknown.

Time magazine also honored the staff of the Capital Gazette newspaper in Annapolis, Mryland, who were attacked by a gunman in June.

Source: VOV5

Vietnam, Russia enhance e-government cooperation

Minister and Head of the Government Office Mai Tien Dung is on a working visit to Russia to expand cooperation, particularly in e-government.

At a meeting with Minister Dung on Tuesday, Russian Deputy Prime Minister Akimov Maxim Alekseevich said Russia will share its experience on e-government security with Vietnam and will consider providing scholarships to Vietnam on IT, e-government, and information security.

The same day Minister Dung worked with Noskov Konstantin Yurievich, Minister of Digital Development, Communications, and Mass Media and both signed an MoU on cyber information security for e-government development.

Source: VOV5