Covestro sells additive manufacturing business to Stratasys
Originally announced in August 2022, the sale includes 3D printing materials solutions, employees, R&D facilities and offices across Europe, the U.S. and Asia.
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As of April 3, 2023, Covestro (Leverkusen, Germany) has successfully completed the sale of its Additive Manufacturing Business to the 3D printing company Stratasys (Rehovot, Israel and Eden Prairie, Minn., U.S.).
The company originally announced in August 2022 that it was planning to sell this business for a price of approximately €43 million, with a potential earn-out of up to €37 million, subject to the achievement of various performance metrics.
The Additive Manufacturing Business provides material solutions for common polymer 3D printing processes and includes, among others, products of the Resins & Functional Materials business acquired from DSM in 2021. Included are employees, R&D facilities and offices across Europe, the U.S. and Asia.
With the divestment of the Additive Manufacturing Business, Covestro says it is continuing its portfolio optimization and a stronger focus on its customer product offerings.
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