Covestro Announces Sale of Additive Manufacturing Business to Stratasys
Covestro has signed a definitive agreement to sell its Additive Manufacturing Business to Stratasys. 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. The transaction is planned to be closed in the first quarter of 2023. With the decision to sell the Additive Manufacturing Business, Covestro continues its portfolio optimization in order to position itself even 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," said Dr. Thomas Toepfer, CFO of Covestro. "We are convinced that Stratasys offers the optimal conditions to support the further growth of our former Additive Manufacturing Business in this field."