CHGT Exploring 3D Printing Options in the Burgeoning Toy Industry
By Business Wire News
By Business Wire News
Changing Technologies, Inc. (OTCBB:CHGT) is considering pursuing 3D printing opportunities in the multi-billion dollar toy industry, offering makers competitive replacement and custom-manufactured parts in its ongoing efforts to expand into new markets and build additional revenue streams.
“Toy makers are a natural market for us to target,” said CHGT CEO Marco Valenzuela. “So many toys today are made from materials that are very conducive to 3D printing. Using this technology, we can help designers and manufacturers make more interesting, unique and exciting products, including one-of-a-kind, low volume toys too expensive to produce now. It’s a potentially lucrative market worth exploring.”
Amazon recently announced it was letting customers with 3D printers print their own video game figurines based on several popular titles using Amazon’s virtual storefront. Disney is encouraging startup 3D toy printers by opening a mentorship and investment program to help fledgling companies get going and succeed.
Industry figures peg the global toy market at $84 billion, with the U.S. segment comprising an $18 billion annual concern. Action figures, a category lending itself to 3D printing, represent a $1.2 billion slice of the total U.S. market. American consumers spent an average of $371 on toys in 2013, the second highest amount in the world.
For more information on CHGT, please visit www.changingtechno.com.
For more information on 6thDimension Technologies, please visit http://www.6d3d.com.
About Changing Technologies, Inc.
Changing Technologies, Inc. (CHGT) is an emerging technology company focused on developing innovative concepts to bring to consumers. It recently created a new subsidiary — 6thDimension Technologies — to pursue additional growth areas and market needs in the booming 3D printing sector. A forward-thinking company working to be at the forefront of the next generation of consumer-based technology, CHGT is positioning itself to leverage global demand for the latest technological advances and services the company offers. Changing Technologies, Inc. is in the cutting-edge technology sphere alongside companies like Voxelijet AG (VJET), Arcam AB (AMAVF), and ExOne Co. (XONE).
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipates” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Changing Technologies, Inc.
Marco Valenzuela, 713-300-3806
President and CEO