-Closes deal for 75% investment in Concept Laser of Germany
-Tender offer for Arcam AB of Sweden concludes with 76% ownership share
BOSTON — (BUSINESS WIRE) — December 12, 2016 — GE (NYSE: GE), the world’s leading digital industrial company, executed on its agreement to acquire a 75% stake in Concept Laser GmbH of Germany. The agreement, announced in late October, allows for GE to take full ownership over the next several years.
In addition, GE recently concluded its tender offer for the shares of Arcam AB of Sweden, first initiated in September, and purchased 76.15% of the company.
GE now has controlling shares of two important producers of additive manufacturing machines and technology, and has committed significant investments to enhance the portfolios of both companies.
Privately-held Concept Laser has more than 200 employees and is headquartered in Lichtenfels, Germany, with significant operations in the United States (Grapevine, Texas), China, and a global network of more than 35 distributors and agents. Concept Laser is a pioneer in the field of metal additive manufacturing. Concept Laser designs and manufacturers powder bed-based laser additive manufacturing machines. Its customer base is focused on the aerospace, medical and dental industries, with a meaningful presence in automotive and jewelry.
Arcam AB, based in Mölndal, Sweden, invented the electron beam melting machine for metal-based additive manufacturing, and also produces advanced metal powders. Its customers are in the aerospace and healthcare industries. Arcam has approximately 285 employees. In addition to its Sweden site, Arcam operates AP&C, a metal powders operation in Canada, and DiSanto Technology, a medical additive manufacturing firm in Connecticut, as well as sales and application sites worldwide.
“GE has made significant long-term commitments to both Arcam and Concept Laser to enhance their complementary technologies,” said Mohammad Ehteshami, vice president for Additive Integration at GE Additive. “Both companies are important players in the growing additive manufacturing movement, and are foundational to GE’s journey into this revolutionary manufacturing space.”
Additive manufacturing involves taking a digital design from computer aided design (CAD) software and melting/sintering together in a layer-by-layer manner, using either a laser or an electron beam as the energy source. Additive components are typically lighter and more durable than traditional forged parts because they require less welding and machining. Because additive parts are essentially “grown” from the ground up, they generate far less scrap material. Freed of traditional manufacturing restrictions, additive manufacturing dramatically expands the design possibilities for engineers.
GE is a leading end user and innovator in the additive manufacturing space. GE has invested approximately $1.5 billion in manufacturing and additive technologies at GE’s Global Research Center (GRC), and has developed additive applications across six GE businesses, created new services applications across the company, and earned 346 patents in powder metals used for the additive process.
About GE:
GE Additive is part of GE, the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE Additive offers a full line of metal additive manufacturing machines, materials and engineering solutions to customers in many industries including aerospace, medical, automotive and luxury goods. Visit GE Additive at www.geadditive.com.
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com
GE’s Investor Relations website at www.ge.com/investor and our corporate blog at www.gereports.com, as well as GE’s Facebook page and Twitter accounts, including @GE_Reports, contain a significant amount of information about GE, including financial and other information for investors. GE encourages investors to visit these websites from time to time, as information is updated and new information is posted.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161212005750/en/
Contact:
GE Additive
Rick Kennedy, +1 513 607 0609
Email Contact