VELO3D Expands into South Korea by Signing Distribution Agreement with AVACO Co. Ltd.
AVACO will represent VELO3D as their sole distributor for South Korea and will take delivery of a Sapphire® 3D metal printer later this month
CAMPBELL, California, July 8, 2020 – Digital manufacturing innovator VELO3D announced today that it has signed an exclusive distribution agreement in South Korea with AVACO, a leader in industrial equipment manufacturing of flat panel display, semiconductor and photovoltaic applications. AVACO will represent VELO3D in South Korea through sales, service, and applications support. AVACO will take delivery of a Sapphire printer at the end of July and is currently building a demo center in their Daegu office. This will be the first VELO3D system in South Korea, and third VELO3D system in Asia Pacific.
“AVACO has enjoyed tremendous growth over the past few years due to our forte in manufacturing industrial products and we are ready to add 3D printing to our portfolio of technologies,” says Kwang-Hyun Kim, CEO of AVACO. “VELO3D‘s integrated solution of Flow™ advanced pre-print software, Sapphire™ printer, and Assure™ quality management software is a breakthrough for advanced manufacturing, reducing constraints and enabling design freedom, quality assurance and improved performance. We are excited to bring this cutting-edge technology to our Korean customers.”08
“South Korea is one of the fastest growing economies in Asia Pacific and there’s fantastic potential for 3D printing adoption, given the country’s industrial backbone,” says Benny Buller, Founder and CEO of VELO3D. “We are proud to welcome AVACO into our distribution network and look forward to our mutual success.”
3D metal printing, also known as metal additive manufacturing (AM), is a promising component of the digital transformation movement that is reducing reliance on analog manufacturing methodologies. Starting with a CAD file, additive manufacturing builds production metal parts using lasers to fuse together fine metal powder, layer by layer. Common advantages include complex designs, accelerated timelines, and reduction in raw materials when compared to traditional manufacturing techniques.
AVACO is publicly traded on Korea Stock exchange and is registered under the ticker KOSDAQ: 083930
VELO3D empowers companies to manufacture anything. By bringing together innovations in software, hardware, and process control, VELO3D created the industry’s first SupportFree solution for 3D metal printing, enabling unlimited design innovation by reducing the need for support structures in metal additive manufacturing. The company’s Sapphire System is built with a semiconductor mindset on quality assurance, ensuring repeatability and dependability throughout serial manufacturing. Headquartered in Silicon Valley, VELO3D helps companies deliver immediate business impact by making the impossible, possible. To learn more, please visit www.velo3D.com.
About AVACO CO., LTD
AVACO is a global supplier of thin-film solution that specializes in manufacturing of sputtering (PVD) equipment and atomic layer deposition equipment. In addition to the thin-film technology, AVACO provides turnkey solution with various BEOL and factory automation equipment for large-scale substrate including architectural glass. Derived from the expertise that is proven over a decade for delivering world class mass production equipment, AVACO also provides contract manufacturing service for all equipment that encompasses all stages of production for flat panel display, semiconductor, and photovoltaic applications. To learn more, please visit www.avaco.com.