Dec 27, 2017
General Electric Co said on Wednesday it will raise its stake in Swedish 3D printer maker Arcam AB to more than 90 percent after having entered into a trade with both Elliott Management and Polygon Investment Group to purchase their outstanding Arcam shares at SEK 345 ($41.44) per share.
GE previously owned approximately 77 per cent of Arcam’s outstanding shares. Upon the completion of the transaction on December 29, GE will own approximately 95 percent of Arcam.
GE also said it plans to begin the process under the Swedish Companies Act to acquire all remaining outstanding shares of Arcam in a compulsory buy-out procedure. Also, GE intends to request that Arcam initiate actions to delist Arcam’s shares on the Nasdaq Stockholm exchange.
An Arcam 3D printer at GE’s Center for Additive Technologies Advancement.
GE purchased controlling shares of Arcam in a public cash offer to tender all shares in late 2016. Arcam AB, based in Mölndal, Sweden, invented the electron beam melting machine for metal additive manufacturing, and also produces advanced metal powders (including Titanium, Titanium alloys, and Cobalt-Chrome) for 3D printing. Arcam has around 285 employees, and operates metal powders operation AP&C in Canada, as well as DiSanto Technology, a medical additive manufacturing firm based in Connecticut. Arcam also has sales and application sites worldwide, serving customers in the aerospace and healthcare industries.
Posted in 3D Printer Company
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