Dec 1, 2015 | By Benedict
Since Prussia and the Qing Empire concluded the first Sino-German treaty in 1861, relations between China and Germany have fluctuated incessantly. In spite of these mixed relations, 3D printing business links between the two countries are looking stronger than ever. Friedberg, Germany based 3D printing company voxeljet AG has today signed a definitive agreement to form an equity joint venture with Suzhou Meimai Fast Manufacturing Technology Co., Ltd. in order to make inroads into China’s rapidly developing industrial 3D printing market.
voxeljet is a provider of both 3D printing machinery and services, specializing in large-format, high-speed 3D printers and powder binding technology, as well as the 3D printing of custom parts for clients which include well-known automotive manufacturers and their suppliers. After successful forays into UV resin 3D printing at Technical University of Munich, the company was founded in 1999 with the goal of “developing new generative processes for the production of casting and plastics components using 3D printing". Today, the partnership with Meimai gives voxeljet a foothold in one of the world’s fastest growing 3D printing markets, and will allow the company to build a client base in the world’s most populous country.
The ambitious move sees voxeljet exploring yet more new terrain, after the company made similar advances into the U.S. industrial 3D printing market in 2014, when it opened its first U.S. facility in Michigan. Subject to approval from local authorities, the joint venture with Meimai will be called voxeljet China Ltd., and will be controlled by voxeljet, which is holding a supermajority interest. The joint venture will be headquartered in the city of Suzhou, near Shanghai, whilst plans are underway to acquire a permanent facility, larger than the two parties’ current location. voxeljet China expects to start offering its part services in the second quarter of 2016.
“We are excited to announce our joint venture partnership with Meimai in China as part of our ongoing growth strategy,” said Dr. Ingo Ederer, Chief Executive Officer of voxeljet. “Our long standing relationship with the principals of Meimai makes them the ideal local partner for us to establish a direct operating presence in the market. Their experience with our printers coupled with their existing customer base and relationships with end users of industrial 3D printing applications in China is a great benefit. This is a great opportunity for us and we look forward to growing together in the market.”
Today’s announcement saw voxeljet shares gain pre-bell, with stock rising by 0.36% ($0.02) to $5.56.
Posted in 3D Printer Company
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