Covestro Announces Sale of Additive Manufacturing Business to Stratasys
Latest: Covestro announces the sale of its Additive Manufacturing business to Stratasys. It has signed a definitive agreement to sell its Additive Manufacturing business to Stratasys. The sale price is around 43 million euros. In addition, there are potential benefits of up to 37 million euros, depending on the achievement of various performance indicators. With the decision to sell its additive manufacturing business, Covestro continues to optimize its product portfolio in order to position itself more effectively in the market and to be able to focus more on offering a wide range of products to customers in its core industries.
Thomas CFO of Covestro
Dr. Toepfer said: “Additive manufacturing is a growing but competitive market. We believe that Stratasys offers the best conditions to support the further development of our previous additive manufacturing business in this area.”
The divested businesses of Covestro include employees, research and development facilities, production assets and offices in the Netherlands, Germany, the United States and China, as well as an extensive network of partners worldwide. This business provides material solutions for common polymer 3D printing processes. The Additive Manufacturing portfolio also includes products from the Resins and Functional Materials business acquired from DSM in 2021. It includes brands such as Somos® and Addigy®.
The transaction is scheduled to close in the first quarter of 2023.