Additive Manufacturing GE acquires 75% stake in metal AM leader Concept Laser
US/ Germany – GE has acquired a 75% stake in Germany’s Concept Laser for €549m, the company announced in October last year. As of 12 December 2016, GE has now completed on execution of this deal.
The terms of the deal will allow GE to take full ownership in the company after a few years. As of 12 December 2016, GE has now completed on execution of this deal, 3Dprint.com reports, and additionally recently completed its tender offer for the shares of Arcam, purchasing 76.15% of the company. “Concept Laser founder Frank Herzog and his team are true pioneers in metal laser melting technology,” said David Joyce, GE vice chairman and president & CEO of GE Aviation. “We are committed to enhancing Concept Laser’s technologies and product offerings across a well-established customer base.”
Herzog commented, “GE shares our vision regarding the potential for additive manufacturing to lead the digital transformation of industrial production." Concept Laser, based in Lichtenfels, Germany, with operations in the US and China as well, is responsible for the development of Laser-Cusing metal 3D printing technology.