Stratasys sells its Texas-based metal 3D printing service to Cumberland Additive
Move set to will drive better focus while simultaneously improving profitability.
It was already in the air for some time, as Stratasys removed all mentions of its Stratasys Direct Manufacturing metal 3D printing capabilities from its website and all communication materials. Now the transaction is complete. In its continuing effort to focus on key applications, Stratasys completed the sale of its Austin, Texas-based metal 3D printing service, one of the largest in the world in terms of overall capabilities, to Cumberland Additive.
“We are focusing Stratasys Direct to maximize synergies with our market-leading additive manufacturing business,” confirmed Gurvinder Kahlon, General Manager and Vice President, Stratasys Direct Manufacturing. “Stratasys Direct has best-in-class technology, deep expertise, and focused management teams that are poised to deliver strong results for our customers and help them achieve their manufacturing needs.”
Stratasys, a world leader in polymer 3D printing, had begun offering metal 3D printing services after acquiring two large 3D printing service providers, Solid Concepts and Harvest Technologies, in 2014. This update, with the sale of the facilities to Cumberland Additive, is already reflected in VoxelMatters’ research upcoming study on the Metal AM Market’s opportunities and trends (2022-2032).
Stratasys Direct is the company’s on-demand parts service bureau. The sale of the Stratasys metal facility in Austin to Cumberland Additive follows the August sale of the Stratasys Direct urethane facilities. This decision, along with operational transformation efforts that began in early 2023, will drive better focus, accountability, internal efficiency, and speed to customers, while simultaneously improving profitability.
This transformation positions the Stratasys Direct parts business to achieve several key objectives. Firstly, it allows us to effectively demonstrate the numerous advantages of Stratasys solutions in the realm of production-scale additive manufacturing. Additionally, it enables us to deliver even greater value to our customers through cross-selling opportunities and the extension of our capacity to meet their evolving needs. Furthermore, this shift allows us to concentrate the expertise of Stratasys Direct on providing tailored solutions for customer applications, irrespective of the specific technology involved, ensuring that we meet and exceed their expectations. Importantly, this strategic transformation is expected to contribute substantial growth and accretive income by harnessing our technology and industry know-how. Finally, it will play a pivotal role in accelerating the development of Stratasys’ manufacturing solutions portfolio, reinforcing our commitment to innovation and staying at the forefront of additive manufacturing advancements.
