Protolabs
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Formerly | The ProtoMold Company |
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NYSE: PRLB S&P 600 Component | |
Founded | 1999 |
Founder | Larry Lukis |
Headquarters | , U.S. |
Area served | Global |
Key people | Larry Lukis, Brad Cleveland Robert Bodor (CEO) |
Products | Prototyping and short-run production parts |
Revenue | $445.6 million (2018) |
Number of employees | 2,700 (2019) |
Website | www |
Protolabs is a company that provides rapid manufacturing of low-volume 3D printed, CNC-machined, sheet metal, and injection-molded custom parts for prototyping and short-run production.[1][2][3][4][5][6] Markets like medical devices, electronics, appliances, automotive and consumer products use these parts.[5][6][7] Protolabs' headquarters and manufacturing facilities are located in Maple Plain, Minnesota.[1][3][8][9] The company also has manufacturing facilities in England, Germany, and Japan.[1][3]
History
[edit]Protomold
[edit]In 1999, Larry Lukis founded the Protomold Company, Inc., that specialized in the quick-turn manufacture of custom plastic injection molded parts.[2][5] Protomold was recognized for its small batch molded parts and rush orders.[10] He previously ran ColorSpan, an original equipment manufacturer that produces printers and desktop publishing systems.[2] He was the chief technology officer of Protomold.[2] Later, in 2001, Brad Cleveland joined Protomold as CEO and president.[1][2][9][11]
In 2005, Protomold opened up its first UK plant in Telford, England.[12] Two years later, Protomold introduced the Firstcut quick-turn CNC machining service.[13]
Protolabs
[edit]In 2009, the company combined its Protomold and Firstcut services under its corporate name, Proto Labs Inc., known colloquially and in official messaging as Protolabs.[3]
In 2009, Protolabs opened a location in Japan to serve Japanese design engineers.[3] In the same year, Firstcut, a service from Protolabs, made available CNC-machined prototype parts made of aluminum, as well as ABS, nylon, and PEEK.[14]
In February 2012, Protolabs completed its initial public offering of common stock.[15][16]
![](http://178.128.105.246/cars-http-upload.wikimedia.org/wikipedia/commons/thumb/8/8b/Proto-Labs-Manufacturing-Plymouth-MN.jpg/220px-Proto-Labs-Manufacturing-Plymouth-MN.jpg)
In 2013, Protolabs reached $150 million in revenue.[17] In 2014, Protolabs acquired the North Carolina-based 3-D printing company, FineLine Prototyping Inc. In fall 2016, Protolabs' 3D printing services moved to a new 77,000 sq. ft. facility in Cary, North Carolina. The company also opened a plant in Plymouth, Minnesota.[18][19][20][21]
In February 2014, Vicki Holt was named CEO. She was hired to help Protolabs become a billion dollar manufacturing company. Holt is expanding Protolabs into the medical equipment markets and the lighting industry.[10]
In November 2017, Protolabs acquired RAPID Manufacturing in Nashua, New Hampshire for an aggregate purchase price of $120 million to expand into sheet metal fabrication capabilities.[22]
COVID-19 Pandemic
[edit]During the 2019–2020 coronavirus pandemic, Protolabs began producing face shields, plastic clips, and components for coronavirus test kits for use in Minnesota hospitals.[23] The company also collaborated with the University of Minnesota to produce parts for a low-cost ventilator.[23]
2021
[edit]In January 2021, Protolabs announced an agreement to acquire Amsterdam-based manufacturing platform 3D Hubs for $280 million in cash and stock plus incentives.[24]
In March 2021, Holt plans to retire and will be succeeded as CEO by VP and GM of Americas, Robert Bodor, according to a company announcement.[25]
Cool Idea! Program
[edit]In 2011, Protolabs launched the Cool Idea! Award program. The program awards a total of up to $250,000 each year in services to entrepreneurs with innovative product ideas in the United States and Europe.[26][27][28]
Awards
[edit]- In 2004, the Minneapolis/St Paul Business Journal named Protomold to the top of its “Growth 50” list.[29]
- In 2010 and 2013, Protolabs was awarded the Queen's Awards for Enterprise.[30]
- In June 2012, Larry Lukis and Brad Cleveland won the Ernst & Young Entrepreneur of the Year Award for their work with Protolabs.[31][32]
- In 2013 and 2014, Protolabs was recognized by Forbes in the top 5 of America's Best Small Companies.[33]
- In 2015, Protolabs was recognized as one of the top-ranked rapid prototyping vendors in the United States by their customers.[34]
- In 2016, Workplace Dynamics recognized Protolabs as a top-ranked workplace in Minnesota [35]
- In 2016, the Minnesota High Tech Association awarded Protolabs (alongside Recombinetics, Sentera, and 12 other companies) with a Tekne award for its work in advanced manufacturing.[36]
See also
[edit]References
[edit]- ^ a b c d "Proto Labs Ltd Does with the Queen's Award for the second time". Interempresas. Retrieved 30 September 2013.
- ^ a b c d e "Fast forward prototyping arrives". Plastics Today. Retrieved 30 September 2013.
- ^ a b c d e "Rapid Injection Molder's Automated Process Creates Strategic Advantages for Clients". Design-2-Part Magazine. Retrieved 30 September 2013.
- ^ "Proto Labs". PMW Magazine. Retrieved 30 September 2013.
- ^ a b c "The Changing Face of Injection Molding". Medical Design. Retrieved 30 September 2013.
- ^ a b "Fashion Meets Function with Proto Labs' Latest Cool Idea! Award Winner". Daily Finance. Retrieved 30 September 2013.
- ^ "3D Technology Will Be "Printing" Money". Money Show. Retrieved 30 September 2013.
- ^ "Women in Business 2013—Jackie Schneider". Minneapolis/St. Paul Business Journal. Retrieved 30 September 2013.
- ^ a b "Large Manufacturer of the Year: GNP Company". Minnesota Business Magazine. Archived from the original on 5 October 2013. Retrieved 30 September 2013.
- ^ a b Slade, Hollie (15 October 2014). "How Proto Labs Is Building The Factory Of The Future". Forbes. Retrieved 1 November 2014.
- ^ "Affordable Injection Molding Transforms Tinkerers Into Tycoons". Wired. Retrieved 30 September 2013.
- ^ "Proto Labs: Weiter auf Wachstumskurs mit neuer Betriebsstätte". Plasticker. Retrieved 30 September 2013.
- ^ Adrienne Burke (3 January 2014). "How Proto Labs makes manufacturing in the USA possible for more inventors". Yahoo! Small Business Advisor. Retrieved 14 August 2014.
- ^ "Proto Labs: First Cut mit Prototypenteilen aus Aluminium". Plasticker. Retrieved 30 September 2013.
- ^ "United States Securities and Exchange Commission - Proto Labs Inc". Nasdaq. Retrieved 30 September 2013.
- ^ "St. Anthony: Proto Labs learns a long-term lesson". Star Tribune. Archived from the original on 5 October 2013. Retrieved 30 September 2013.
- ^ Mike Scott (28 May 2014). "Minnesota firm upgrades LSR capabilities". Rubber News. Retrieved 14 August 2014.
- ^ Sam Black (24 April 2014). "Proto Labs gets into 3-D printing with N.C. acquisition, opens Plymouth plant". Minneapolis / St. Paul Business Journal. Retrieved 14 August 2014.
- ^ Kevin Mahoney (24 April 2014). "Proto Labs Enters 3-D Printing With $38M Deal". Twin Cities Business. Retrieved 14 August 2014.
- ^ Ann R. Thryft (13 May 2014). "Proto Labs Buys 3D Printing Service Bureau". Design News. Retrieved 14 August 2014.
- ^ Dee Depass (25 April 2014). "Proto Labs buys 3-D printing company in Raleigh, opens Plymouth factory". Star Tribune. Retrieved 14 August 2014.
- ^ Williams, Nick (2017-11-21). "Proto Labs acquires New Hampshire sheet metal manufacturer for $120 million". www.bizjournals.com. Retrieved 2017-11-21.
- ^ a b Miller, Norman. "How factories change production to quickly fight coronavirus". www.bbc.com. Retrieved 2020-04-28.
- ^ "Protolabs Reaches Agreement to Acquire 3D Hubs, Creates the World's Broadest Digital Manufacturing Offer for Custom Parts". www.businesswire.com. 2021-01-19. Retrieved 2021-01-21.
- ^ "Protolabs' VP and GM of Americas Named Successor to Company's President and CEO". www.protolabs.com. 2020-12-14. Retrieved 2021-01-21.
- ^ Jessica Leber (19 November 2013). "A Phone Charging Device For The Next Billion Turns Heat Into Power". Fast.co Exist. Retrieved 14 August 2014.
- ^ Adrienne Burke (8 February 2014). "Proto Labs Gives Entrepreneurs with Cool Ideas a Kickstart". Yahoo! Small Business Advisor. Retrieved 14 August 2014.
- ^ Rakesh Sharma (18 February 2014). "An Award For Hardware". Forbes. Retrieved 14 August 2014.
- ^ "The Business Journal names "Growth 50"". Minneapolis/St. Paul Business Journal. Retrieved 30 September 2013.
- ^ "Proto Labs: Auszeichnung mit dem Queen's Award". Plasticker. Retrieved 30 September 2013.
- ^ "EY announces winners for the Entrepreneur Of The Year™ 2012 Upper Midwest Award". EY. Archived from the original on 5 October 2013. Retrieved 30 September 2013.
- ^ "Proto Labs replaces founder Lukis as chief technology officer". Minneapolis/St. Paul Business Journal. Retrieved 30 September 2013.
- ^ Karsten Strauss (9 October 2013). "The Winners Circle: America's Best Small Companies". Forbes. Retrieved 14 August 2014.
- ^ VendOp's Top Rapid Prototyping Vendors of 2015
- ^ "Top Workplaces in Minnesota". Star Tribune. Retrieved 13 January 2017.
- ^ "Proto Labs, Sentera among 2016 Tekne Award winners". Minneapolis/St. Paul Business Journal. Retrieved 17 November 2016.
Further reading
[edit]- Injection Molding: New Twists for a Mainstream Technology
- "How Proto Labs Is Building The Factory Of The Future", Forbes
External links
[edit]- Companies listed on the New York Stock Exchange
- Manufacturing companies established in 1999
- Manufacturing companies based in Minnesota
- 1999 establishments in Minnesota
- American companies established in 1999
- 2012 initial public offerings
- Injection molding
- 3D printing
- Numerical control
- Fused filament fabrication