Covestro has signed a definitive agreement to sell its Additive Manufacturing Business to Stratasys. With the decision to sell the Additive Manufacturing Business, Covestro AG, Leverkusen/Germany, 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. The selling price amounts to approx. € 43 million. The transaction is planned to be closed in the 1st quarter of 2023.
Covestro's divested business includes employees, research & development facilities, production assets and offices in the Netherlands, Germany, the USA 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 Royal DSM NV, Heelen/Netherlands, in 2021. It includes brands such as Somos and Addigy.
"Additive manufacturing is a growing, but also highly competitive market. We are convinced that Stratasys offers the optimal conditions to support the further growth of our former Additive Manufacturing Business in this field." Dr. Thomas Toepfer, CFO of Covestro.
Stratasys Ltd., Rechovot/Israel, is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products and healthcare. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain.