General Electric to Acquire Germany's Concept Laser For $599 Million
27 October 2016 - 6:07PM
Dow Jones News
By Sarah Sloat
FRANKFURT--General Electric Co. said on Thursday it would pay
$599 million for a 75% stake in Concept Laser GmbH, after its plan
to acquire another German 3-D printing company fell through earlier
this week.
The deal leaves open the possibility of GE taking full ownership
of Concept Laser at a later date.
Concept Laser specializes in metal additive manufacturing, also
known as 3-D metal printing. The privately held company has more
than 200 employees and its customers are concentrated in the
aerospace, medical and dental industries.
The announcement comes a day after GE said its offer to buy
Germany's SLM Solutions Group AG fell through, GE having failed to
reach the 75% threshold for the deal to go forward. SLM is also
active in 3-D printing.
GE has invested roughly $1.5 billion in manufacturing and
additive technologies at its global research center and is
developing additive applications across businesses, it said. GE
plans to "invest significantly" in Concept's Lichtenfels location,
which will become a new German center for GE, the company said.
Write to Sarah Sloat at sarah.sloat@wsj.com
(END) Dow Jones Newswires
October 27, 2016 02:52 ET (06:52 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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