Industry News Daedalus Investments LLC, Parent Company of Tech Cast Limited, Acquires
ClassIQmfg.com
• Tech Cast Limited (Myerstown, PA) is an Investment Casting Foundry that produces investment castings in a diverse range of alloys including duplex and super duplex stainless steels.
• ClassIQmfg (Tulsa, OK) is an Engineering and Additive Manufacturing supplier for Stereolithography (SLA) printed patterns for investment castings.
• Areion3D (Lebanon, PA) [NEW ENTITY] is an Additive Manufacturing supplier of Stereolithography (SLA) 3D printed patterns for investment castings.
Cast
Daedalus Investments LLC, parent company of Tech Limited,
announced it has purchased Oklahoma-
based ClassIQ Manufacturing. ClassIQ provides Additive Manufacturing (AM) services in several markets, one of which is the Investment Casting Industry. “As Tech Cast continues to push for lower lead times and reduced tooling costs, AM has become more paramount. This acquisition complements Tech Cast’s abilities to make this push and to develop novel technologies to improve quality, delivery, and cost to our customers.” said Steve Olson, Tech Cast CEO With over 35+ years in Additive Manufacturing, ClassIQ
has a solid reputation within the AM industry and has quickly become the leading provider for several AM services including SLA Quickcast Investment Casting Patterns. “Tech Cast has been one of our best customers over the years. We have always admired their innovation and adaptation of AM to provide low-volume, quick- turn investment castings to their customers. This acquisition makes sense, and we are very excited about future opportunities for both Areion3D and Tech Cast Limited.” said Joan Speed, CFO and owner of ClassIQmfg. ClassIQ will relocate all assets, and key personnel to the new location in Lebanon, PA. Areion3D has added two new ProX 800 SLA systems to their fleet of five large-frame platforms and is currently taking SLA Quickcast orders. Contact: info@
areion3d.com.
Forward-Looking Statements
Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as "believes," "belief," "expects," "may," "will," "estimates," "intends," "anticipates" or "plans" or the negative of these terms or other comparable terminology. Forward-looking
68 ❘ August 2023 ®
statements are based upon management’s beliefs, assumptions, and current expectations and may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings. "Forward-Looking Statements" and "Risk Factors" in the
company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward- looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. Daedalus, LLC dba Areion3D undertakes no obligation to update or revise any forward- looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise, except as required by law.
About Daedalus, LLC dba Tech Cast Limited Tech Cast is a privately owned, non-union, investment casting foundry that produces investment castings in a diverse range of alloys including duplex and super duplex stainless steels. Tech Cast produces investment castings in a diverse range of high and low carbon steel grades and exotic alloys to meet your needs. Tech Cast is a leader in the investment casting industry producing large SLA Rapid Prototypes to support a broad landscape of industries such as multi-stage pumps for oil & gas, critical shipboard applications for the military, etc. This SLA technology enables Tech Cast to direct manufacture investment castings in as little as a few weeks and eliminate the need to invest capital money in expensive, long lead-time tooling. This SLA process provides the design engineer with the necessary tools, freedom, and flexibility to develop new products/designs directly from a 3D CAD model to an end-use investment casting in a matter of weeks.
About Jhopai, LLC dba
ClassIQmfg.com ClassIQmfg is a privately owned Additive Manufacturing supplier located in Tulsa, OK. The team at ClassIQmfg have a combined 36+ years in Rapid Prototyping, 3D Printing and Additive Manufacturing and have been part of the AM industry since its inception in 1986. ClassIQmfg services include Stereolithography (SLA) prototypes – including SLA Quickcast IVC patterns, Selective Laser Sintering (SLS), Fused Deposition Modeling (FDM), 3D Scanning, Reverse Engineering and CAD Modeling.
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