3-D Systems Inc. to Get Loan From Ciba Geigy
3-D Systems Inc. said its biggest stockholder, Ciba-Geigy Ltd., has agreed to lend up to $2.5 million to help finance the company’s operations over the next year.
3-D Systems is a Canadian company whose main unit is 3D Systems, a Valencia maker of machines that combine a computer, laser and chemicals to rapidly make plastic-like prototype models for manufacturers.
The company has been struggling recently. 3-D Systems lost $2.3 million in 1990 despite a 43% jump in revenue to $25 million, and it lost an additional $2.3 million in this year’s first quarter.
3-D Systems said the loan from Ciba-Geigy’s Lionheart Capital Corp. subsidiary, together with its own cash, “should provide sufficient operating capital at least through next June.†Ciba-Geigy, a Swiss pharmaceutical concern, currently owns 36% of 3-D Systems’ stock.
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