- Business provides material solutions for common polymer 3D printing processes
- Sale includes R&D facilities, offices and employees in Europe, U.S. and China
- New ownership by Stratasys expected to achieve faster growth
Covestro has signed a definitive agreement to sell its Additive Manufacturing Business to Stratasys. The selling price amounts to approximately EUR 43 million. In addition, there is a potential earn-out of up to EUR 37 million, which is subject to the achievement of various performance metrics. With the decision to sell the Additive Manufacturing Business, Covestro continues its portfolio optimization in order to position itself even more efficiently in the market and to 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,” said Dr. Thomas Toepfer, CFO of Covestro. “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 large network of partners globally. The business offers material solutions for common polymer 3D printing processes. The portfolio of the Additive Manufacturing Business also includes products from the Resins & Functional Materials business acquired from DSM in 2021. It includes brands such as Somos® and Addigy®.
The transaction is planned to be closed in the first quarter of 2023.
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