General Electric (GE) To Make Dollars $1.4 Billion In 3D Printing Acquisitions
Image credit EconomicCalendar
NEW YORK: United States corporation General Electric (General Electric) proclaim on last Tuesday. It intends to acquire two European companies that expert in 3D printing ─ Arcam AB of Sweden and SLM Solutions Group of Germany ─ for Dollars $1.4 billion.
The two companies would place under GE’s aviation division. Established in 1997 and based at Molndal in southern Sweden. Arcam AB uses electron beams like a shaft of light in 3D printing. Of metallic parts for health care and aeronautics industries. It’s had revenue of about Dollars 68 million in the last year 2015, with employee based of about 285 people.
SLM Solutions Group, based in Germany, makes and formulates laser equipment for use in 3D printing. As also known as additive manufacturing. For the aeronautics, energy, healthcare and automobile industries with a revenue of about dollars $74 million in the last year 2015. GE CEO Jeffrey stated that “Preservative manufacturing is a basic key element of GE’s fruition into a digital industrial company; we are hovering to not merely benefit from this faction as a client, but escort it as a leading supplier.”
The corporation expects to garner up to dollars $1billion a year from 3D printing.
By the end of 2020 and foresees economies in making costs on the order of $3-5 billion over the next 10 years. GE plans to remain the headquarters of both the companies in Europe. By it as a pedestal for developing a global 3D printing business.
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