Covestro sells additive manufacturing materials business to Stratasys

Covestro (Leverkusen, Germany) has signed a definitive agreement to sell its additive manufacturing materials business to Stratasys (Eden Prairie, Minn., U.S. and Rehovot, Israel). The selling price amounts to approximately €43 million. In addition, there is a potential earn-out of up to €37 million, which is subject to the achievement of various performance metrics. With the decision to sell the additive manufacturing business, Covestro continues its portfolio optimization in order to position itself more efficiently in the market and to be able to place greater focus on its extensive offering for customers in its core industries. 

“Additive manufacturing is a growing, but also highly competitive market,” Dr. Thomas Toepfer, CFO of Covestro, says. “We are convinced that Stratasys offers the optimal conditions to support the further growth of our former Additive Manufacturing Business in this field.”

Covestro’s divested business includes employees, research and development (R&D) facilities, production assets and offices in the Netherlands, Germany, the U.S. and China, as well as access to a large network of partners globally. The business offers material solutions for common polymer 3D printing processes. The additive manufacturing business portfolio also includes products from the Resins & Functional Materials business acquired from DSM (Heerlen, Netherlands) in 2021. It includes brands such as Somos and Addigy. 

The transaction is planned to be closed in the first quarter of 2023.