Covestro Sells Additive Manufacturing Business to Stratasys
The sale includes R&D facilities as well as offices and employees in Europe, U.S. and China.
Fuse box made of polybutylene terephthalate from Covestro, produced by laser sintering on a Farsoon machine. Photo Credit: Covestro
Covestro says it has signed a definitive agreement to sell its additive manufacturing (AM) business to Stratasys. With the decision to sell the AM business, Covestro says it is continuing its portfolio optimization in order to position itself even more efficiently in the market and be able to place greater focus on its extensive offering for customers in its core industries.
“Additive manufacturing is a growing but also highly competitive market,” says Dr. Thomas Toepfer, Covestro CFO. “We are convinced that Stratasys offers the optimal conditions to support the further growth of our former additive manufacturing business in this field.”
Covestro's divested business includes employees, research & development facilities, production assets and offices in the Netherlands, Germany, the U.S. and China, as well as access to a network of global partners. The business offers material solutions for common polymer 3D printing processes. The portfolio of the AM business also includes products from the resins and functional materials business acquired from DSM in 2021, which includes brands such as Somos and Addigy.
The transaction is planned to be closed in the first quarter of 2023.
Related Content
-
Foundry Lab: How Casting in a Day Will Improve the Design of Metal Parts (Includes Video)
The company’s digital casting process uses 3D printing, but the result is a cast part. By providing a casting faster than a foundry, the company says effective prototyping is now possible for cast parts, as well as bridge production.
-
Why This Photopolymer Developer Wants Prototyping to Go “Massless”
High-performance materials supplier polySpectra is embracing augmented reality (AR) with a new tool called Massless intended to reduce unnecessary 3D printing.
-
Additive Manufacturing's Evolving Role at Fathom Now Emphasizing Bridge Production
Bridge production is currently the biggest opportunity for additive manufacturing, says Fathom Manufacturing co-founder Rich Stump. How this service provider leverages AM while finding balance with other production capabilities.
