Formnext brings together the additive manufacturing community in many ways, and one of those is undeniably gossip! Now, 3DPI does endeavor to scrutinize what we should probably call tips, and it can take a little longer to post on social media as a result. We’ve kicked the tires on several such tips this past week; some even made it into print.
Formnext is the world’s largest 3D printing trade show, but the business decision to exhibit must be weighed against the costs and benefits. On one side of the equation are the highly beneficial interactions with customers and even competitors; on the other side, the costs of the booth space and the time of employees required to attend. Given the vast majority of enterprises return year-on-year to exhibit, the positives must outweigh any perceived negatives.
A comparison between an enterprise’s previous presence at a trade show is almost inevitable. Bigger booth, better business? No booth, no company? Well, not always – but in the febrile environment of a trade show, rumors thrive, not unlike the notorious “Frankfurt Flu.” When a company is particularly well known, its absence is more likely to be both noticed and remarked upon. This brings us to Nexa3D, whose decision not to exhibit raised questions before, during, and after the recent show.
I asked Avi Reichental, chairman and CEO of Nexa3D, about his company’s decision not to exhibit at Formnext 2024. “Nexa3D was upfront with a public post that we are NOT participating in Formnext,” he says, pointing to a post made on LinkedIn last week. Providing a minute-by-minute account of corporate decision-making is one way to fill the information gap that can give rise to rumors and speculation, but with social media posts often getting lost in the deluge; it is not always the best way to ensure a message is heard.
Reichental explains that while he made the trip to Frankfurt and met with many partners, suppliers, and customers, the show’s timing clashed “with our HQ relocation, and our bandwidth is limited.”
Uncertainty and a spate of general, industry-wide, negative news items may be partially fuelling the show floor talk. Like others in the industry, Nexa3D is undergoing restructuring. “Nexa3D did lean out operations and reduced headcount consistent with similar moves industry-wide in order to get to break even,” said Reichental.
On the existential question of corporate continuity, Reichental stated, “Nexa3D did not file for bankruptcy; if we did, it would have been public information instantly as all such filings are public.”
Formnext 2024 is not Reichental’s first rodeo, and given his history in the industry, both professionals and armchair commentators will be watching to see how the next chapter plays out.
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Featured image shows the Nexa XiP Pro. Photo via Nexa3D.
