Stratasys Partners with Ricoh for Distribution in New Zealand
In a move to further strengthen its presence in New Zealand, Stratasys Asia Pacific, a subsidiary of Stratasys Ltd. (NASDAQ: SSYS), has entered into a partnership with Ricoh New Zealand Ltd. (Ricoh New Zealand), a subsidiary of Ricoh Company, Ltd. Japan. The collaboration will cater to the demand for 3D printing solutions in the region. Financial terms of the deal remain undisclosed.
Ricoh will be representing the entire Stratasys product line, in addition to the existing MakerBot line. The collaborations with Ricoh for the adoption of 3D printing solutions are likely to reap synergistic benefits going forward. Partnering Ricoh will be a positive for Stratasys.
Ricoh New Zealand’ experience in offering office imaging, production printing, IT services and document solutions will perfectly complement the robust manufacturing expertise of Stratasys’ 3D printing domain, helping the latter in innovative additive manufacturing initiatives. Therefore, it will help Stratasys gain competitive advantage over players like 3D Systems Corp.
Zacks Equity Research, which first reported the news, believe that the collaboration will expand and enhance Stratasys’ additive manufacturing (AM) or 3D Printing Platform. Also, this association will enable Stratasys to attract new clients and strengthen its overall market position.
“We are confident that this partnership will help us to better understand the local information technology and industrial automation landscape in New Zealand, thereby helping more companies optimize production capabilities and expand business opportunities.” said Shiry Saar, ANZ Manager for Stratasys.