Covestro Announces Sale of Additive Manufacturing Business

On August 8, Covestro announced on its official website that it would sell its additive manufacturing business to Stratasys.

According to reports, the sales price of this business is about 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 a broad range of products for customers in its core industries.

Dr. Thomas Toepfer, CFO of Covestro, said: "Additive manufacturing is a growing but competitive market. We believe that Stratasys offers the best conditions to support the growth of our previous additive manufacturing business in this area. Further development."

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 portfolio of the Additive Manufacturing business also includes products from the resins and functional materials business that Covestro acquired from DSM in 2021, including brands such as Somos® and Addigy®.

The transaction is scheduled to close in the first quarter of 2023.

In fact, Covestro has long been an important partner in Stratasys' third-party materials ecosystem, and the acquisition will benefit users of Stratasys' many different 3D printing platforms, including the Origin P3™, Neo® Stereolithography and H350™ printers . Stratasys is also a distributor of Covestro's Somos® resin materials, which are already available in Neo and Origin® One 3D printers.

Dr. Yoav Zeif, CEO of Stratasys, said that innovative materials are the driving force for additive manufacturing technology and will directly translate into the ability to develop new applications for 3D printing, especially in the production of end components such as dental aligners and automotive parts middle. The acquisition of Covestro's well-respected additive manufacturing business will help us to further expand the application of the latest technologies, now we have the ability to accelerate the development of cutting-edge 3D printing materials, and this will also promote us to provide the industry with the best and most complete Development strategies for the polymer 3D printing product portfolio.