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Press Release

Shape Technologies Statement on Moving Manufacturing and Operations Functions from Kent, Washington
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KENT, Wash. March 29, 2018 – The following statement was issued by David Savage, President and CEO at Shape Technologies, the parent company of Flow International, on the moving of Flow manufacturing and operations functions from Kent, Washington, to Baxter Springs, Kansas:

“Earlier this morning, we announced to our employees that we will be moving our manufacturing and operations functions from Kent, Washington, to our facility in Baxter Springs, Kansas. Most of the transition will occur on June 30, 2018, with some limited functions continuing for three to six months post this date.

“This was not an easy decision. After a great deal of consideration and analysis, we needed to make the tough choice on where our US manufacturing operations would be based for the long term. The cost of doing business in the Seattle area has changed dramatically over the last few years, and the cost of manufacturing in the region continues to climb. As we look into the future, we expect these operating challenges to continue to increase, and we are taking the step now to combine operations in order to remain competitive in our marketplace.

“Working with our manufacturing professionals in Kent has been a privilege. Day in and out, they’ve demonstrated hard work and dedication to our customers and to Flow. We recognize their efforts, and we are doing everything we can to ensure they transition into new careers. In addition to providing three-months’ notice, we are providing severance packages to all affected employees.

“It is important to note that this activity in no way changes how Flow serves its customers. The Flow leadership team, along with the design, engineering, commercial and financial activities of Flow will remain in Kent Washington for the long term, and we are planning investment in new facilities in Kent in 2019 to support our continued growth.

“Again, these are never easy decisions. We are thankful for the contributions of all our affected employees and are committed to helping them transition into new careers.”

About Flow International

Flow International Corporation, a Shape Technologies Group company, is a leading ultra high-pressure manufacturing process solution provider. As the world leader in waterjet technology, the company is committed to delivering highly innovative solutions and world class customer experience to a wide customer base. For more information, visit www.FlowWaterjet.com.

Shape Technologies Group Announces Appointment of New Chief Financial Officer
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KENT, Wash., October 18, 2016 – Shape Technologies Group, Inc. (SHAPE), the world leading supplier of waterjet technology and ultrahigh-pressure (UHP) manufacturing process solutions, an American Industrial Partners (AIP) portfolio company, today announced the appointment of Robert Carlson as chief financial officer. Mr. Carlson will oversee all financial aspects of the company.

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Shape Technologies Group Acquires Opta Minerals Garnet Business
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KENT, WA–(Marketwired – September 12, 2016) – Shape Technologies Group, Inc. (SHAPE), the world leading supplier of waterjet technology and ultrahigh-pressure (UHP) manufacturing process solutions, an American Industrial Partners (AIP) portfolio company, today announced the completion of its acquisition of the Opta Minerals Inc. (Opta) garnet business. SHAPE will operate the business as Shape Mined Materials.

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Shape Technologies Group Names Jim Jenson as New President of Component Shaping Group
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KENT, WA–(Marketwired – September 09, 2016) – Shape Technologies Group, Inc. (SHAPE), the world leading supplier of waterjet technology and ultrahigh-pressure (UHP) manufacturing process solutions, an American Industrial Partners (AIP) portfolio company, today announced that James (Jim) Jenson has joined SHAPE as President of the Component Shaping Group (CSG) business segment which includes world leading brands in waterjet process solutions: Flow International Corporation, Aquarese Industries, and TOPS. Jenson will be responsible for leading all commercial activities including: sales, marketing, technical service, customer service and support.

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Shape Technologies Group, Inc. Acquires Aquarese Industries S.A.
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Shape Technologies Group, Inc. (SHAPE), a portfolio company of American Industrial Partners (AIP) and the world leading supplier of waterjet technology and ultrahigh-pressure (UHP) manufacturing process solutions has completed the acquisition of Aquarese Industries.

Aquarese is a leading supplier of advanced robotic waterjet cutting systems and UHP process solutions to the aerospace and automotive industries. Headquartered in Billy-Berclau, France, Aquarese designs and delivers the most advanced waterjet systems in the industry; including advanced robotic waterjet machining and materials processing technologies. Aquarese customer solutions have a proven track record with the world’s leading manufacturers of gas turbines, internal combustion engines and aircraft components.

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Shape Technologies Group, Inc. acquires TOPS Co. Ltd.
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Shape Technologies Group, Inc. (SHAPE), entity affiliated with American Industrial Partners (“AIP”), has acquired Tops Co. Ltd (TOPS) of South Korea on April 8, 2016.

SHAPE, the world leading supplier of waterjet technology and manufacturing process solutions has acquired TOPS, a leading supplier of waterjet-based solutions in the Asia-Pacific region, headquartered in Gimhae, South Korea.

“We are very pleased to announce the addition of TOPS to our family of companies,” said David Savage, chief executive officer of SHAPE.

 

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