ÃÜÌÒAV announces sale of Additive Manufacturing Business to Stratasys
- 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
ÃÜÌÒAV 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, ÃÜÌÒAV 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 ÃÜÌÒAV. "We are convinced that Stratasys offers the optimal conditions to support the further growth of our former Additive Manufacturing Business in this field."
ÃÜÌÒAV'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.
About ÃÜÌÒAV:
ÃÜÌÒAV is one of the world¡¯s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. ÃÜÌÒAV supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from ÃÜÌÒAV are also used in sectors such as sports and leisure, telecommunications and health, as well as in the chemical industry itself.
The company is geared completely to the circular economy. In addition, ÃÜÌÒAV aims to achieve climate neutrality for its Scope 1 and Scope 2 emissions by 2035, and the Group¡¯s Scope 3 emissions are also set to be climate neutral by 2050. ÃÜÌÒAV generated sales of EUR 14.2 billion in fiscal year 2024. At the end of 2024, the company had 46 production sites worldwide and employed approximately 17,500 people (calculated as full-time equivalents).
Forward-Looking Statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by ÃÜÌÒAV. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in ÃÜÌÒAV¡¯s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.