Picanol Weaving Machines Celebrates 400,000 Machines Sold Worldwide with Cutting-Edge IBARMIA Investment
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Covestro (Leverkusen, Germany) has completed the sale of its Additive Manufacturing Business to Stratasys, a 3D printing business. (Rehovot, Israel and Eden Prairie, Minn., U.S.).
The company initially announced in August 2022 that it planned to sell this business for around €43 million, with a potential earn-out of up to €37 million, subject to various performance indicators being reached.
The Additive Manufacturing Business supplies material solutions for typical polymer 3D printing techniques and includes, among other things, goods acquired from DSM in 2021. Employees, R&D facilities, and offices across Europe, the United States, and Asia are all included.
Covestro said that by divesting the Additive Manufacturing Business, it is continuing to optimise its portfolio and focusing more on its client product offerings.
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