Sumitomo Increases Investment in Sintavia
Follow-on investment will be used to accelerate Sintavia’s rapidly growing business of providing additively manufactured parts to key aerospace and space markets.
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Sumitomo Corporation of Americas (SCOA), the largest subsidiary of Sumitomo Corporation, announced it has entered into an agreement to increase its investment in Sintavia LLC, a Tier One metal additive manufacturer, based in Hollywood, Forida. The parties jointly announced that the minority investment, which follows an initial investment by SCOA in 2018, will be used to fund Sintavia’s growing business of providing additively manufactured parts to the world’s largest aerospace and space companies. Terms of the deal were not disclosed.
The investment will help Sintavia scale its production capacity for flight-critical components that are produced via additive manufacturing, while continuing to advance its technical capabilities. In addition to the financial investment, SCOA and Sintavia will continue to identify opportunities to apply Sintavia’s additive manufacturing and design capabilities toward Sumitomo Corporation Group’s global industrial activities.
“We truly value SCOA as a long-term partner for Sintavia and are excited to expand our existing relationship,” says Brian R. Neff, Sintavia’s chief executive officer. “With this investment, we are further aligning ourselves with a global thought leader in additive manufacturing that is committed to supporting our continued growth.”
Since its initial investment in 2018, Sumitomo says it has seen a lot of growth in a short time. “We see continued synergies in the future through this partnership, and look forward to continuing to help Sintavia support the aerospace and space industry. Moreover, Sintavia is well-aligned with our company’s sustainability goals,” says Kevin Hyuga, SVP and general manager of SCOA’s Construction and Transportation Systems Group. “Through its technology, Sintavia is capable of reducing waste in the additive manufacturing production process, allowing end-stage products to fly lighter, ultimately reducing greenhouse gases and helping to create a more sustainable society.”
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