Covestro announces sale of additive manufacturing business successfully completed

Another step in portfolio optimization

84
Covestro
Photo - Covestro

Covestro has successfully completed the sale of its Additive Manufacturing Business to the 3D printing company Stratasys as of April 3, 2023. The Group had announced in August 2022 that it would sell the Additive Manufacturing Business for a selling price of approximately EUR 43 million. In addition, a potential earn-out of up to EUR 37 million was agreed, which is 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 continues
its portfolio optimization and focuses even stronger on the extensive product offering for its customers in main customer industries. As part of its strategy “Sustainable Future”, Covestro is focusing on sustainable growth and becoming fully circular.

LEAVE A REPLY

Please enter your comment!
Please enter your name here