Loading...

GE to spend $1.4bn on 3-D printer makers for plane parts

Sep 06 2016 12:45
Niclas Rolander

General Electric chairperson Jeffrey Immelt. The board of directors of French group Alstom unanimously approved US conglomerate General Electric's $16.8bn bid to acquire its energy business. (Sebastien Bozon, AFP)

Related Articles

GE tops profit estimates, overcoming sluggish global economy

Alstom, GE accused of decade-old bribes

GE seeks removal of 'too big to fail' label

Alstom in first half red after GE power deal

GE earnings help extend Wall Street rally

GE books R31.6bn African orders from oil to trains

 

Stockholm - General Electric (GE) Company announced $1.4bn in European acquisitions to add 3D printing technology to manufacture parts for jet engines and cars.

The US company agreed to buy Sweden’s Arcam for 5.86bn kronor ($680m), alongside a separate transaction to acquire SLM Solutions Group of Germany, it said in a statement on Tuesday.

GE’s aviation division is looking to print more than 1000 000 jet-engine parts by 2020. The US company is buying into Arcam’s claim that its technology using electron beams to melt metal powder into firm objects is superior to competing laser-based processes.

GE already became Arcam’s top customer last year, placing the largest order to date to help produce turbine blades for jet engines.

"We chose these two companies for a reason," said David Joyce, chief executive of GE Aviation. "They each bring two different, complementary additive technology modalities. Over time, we plan to extend the line of additive manufacturing equipment and products."

The company offered 285 kronor per Arcam share, about 53% more than Arcam’s closing price of 186 kronor on Monday.

Arcam’s board is backing the bid. Its shares had been little changed this year, valuing the company at 3.84bn kronor.

SLM investors are set to receive €38 a share in the agreed deal, a 37% premium to its prior close.
Combined the businesses generated $142m in 2015 revenue.

Read Fin24's top stories trending on Twitter:

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest. 24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

general electric  |  industrial

NEXT ON FIN24X

Disability claims soar

2017-11-24 22:23

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Are you participating in #BackFriday sales?

Previous results · Suggest a vote

Loading...