(HELISYS-INC)(HELI) Helisys Appoints Richard P. Fedchenko as Executive
(Business Wire; 05/13/98)
TORRANCE, Calif.--(BUSINESS WIRE)--May 13, 1998--Helisys, Inc.
(OTC/BB:HELI) today announced the appointment of Richard P. Fedchenko, 60,
as Executive Marketing Consultant to the senior management team. Mr.
Fedchenko's responsibilities will include the planning and execution of
strategy and the development of marketing programs. Formerly Vice President
of Strategy and Market Development for 3D Systems from 1992 to 1997, Mr.
Fedchenko was part of the management team that led that company to a
fourfold growth in worldwide revenues.
"We look forward to Dick's experience in helping us continue to strengthen
the company and refocus priorities to target those areas where our
technology has its greatest application advantage," said Gary S. Moskovitz,
President and Chief Operating Officer of Helisys.
Mr. Fedchenko stated, "I have always been convinced that Helisys'
proprietary Laminated Object Manufacturing(R) (LOM(TM)) technology offers
significant advantages in many application areas, and I am pleased to have
the opportunity to strengthen their position in the RP&M marketplace."
Prior to his post with 3D Systems, Mr. Fedchenko held senior management
positions with Eastman Kodak, DuPont, and Perkin-Elmer, concentrating on
the marketing of high-technology capital goods. He launched his career as a
research physicist with Bell & Howell, specializing in scientific
instrumentation. As a consultant, he has assisted such clients as DuPont,
Fisons Instruments, Hewlett-Packard, IBM, and Varian Associates.
Mr. Fedchenko's career also includes more than seven years in academia as a
professor of management, strategy and marketing at the college level for
Azusa Pacific University, where he was chairman of MBA programs, and
Christian Heritage College, where he is chairman of the Business
Department. He holds a B.S. from Wayne State University in Detroit, MI, and
an MBA from Pepperdine University, and has completed most of the program
for a Ph.D. in executive management from the Peter F. Drucker Graduate
Management Center, Claremont Graduate University.
Helisys develops and builds automated rapid prototyping systems based on
its patented Laminated Object Manufacturing (LOM) technology, which creates
physical models, industrial patterns, and product prototypes directly from
three-dimensional computer-generated designs. Helisys' customer base
includes makers of automobiles, toys, appliances, sporting goods,
electronic hardware, medical devices, and aerospace components, as well as
installations in university research environments and supercomputer
The statements in this news release contain forward-looking information
relating to the Company's future performance. Actual events and performance
may differ materially from the Company's expectations. The Company hereby
makes reference to the documents that the Company files with the Securities
and Exchange Commission, including its Form 10-KSB for fiscal year-end July
31, 1997; 10-QSB for the periods ended January 31, 1997, April 30, 1997,
October 31, 1997, and January 31, 1998, respectively; and Registration
Statement on Form SB-2, as declared effective by the Securities and
Exchange Commission on March 7, 1996, including, without limitation, the
information contained in the section to the Registration Statement entitled
"Risk Factors." These documents identify important factors that could cause
the Company's actual performance to differ from the Company's expectations
and the forward-looking statements contained in this news release. These
factors include, but are not limited to: quarterly fluctuations in
operating results due to changes in the Company's sales and customer mix,
delays in shipping new systems, the introduction of new products and
product enhancements by Helisys or its competitors, pricing pressures,
increases in expenditures relating to pursuing the Company's business
strategies, general economic conditions and other factors; emerging nature
of the rapid prototyping industry; reliance by Helisys on a single product
line; continued reliability of the Company's products; and dependence by
the Company on its proprietary technology.
CONTACT: Helisys, Inc., Torrance
Gary Moskovitz, 310/891-0600
Sitrick and Company, Los Angeles
Jeffrey Lloyd, 310/788-2850
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