GE to develop competitive financing to stimulate growth in additive manufacturing
BOSTON, MA – Today GE (NYSE: GE) announced its GE Additive business will collaborate with GE Capital to sell and finance metal additive machines. Manufacturing companies will now have more ways to access transformative 3D printing technology, spurring growth in several critical industrial markets including medical, aerospace, automotive, and machining.
GE Capital will develop a range of customized financial solutions for its customers. These solutions will allow GE Additive customers the ability to access strategic and flexible financing solutions to acquire this transformative manufacturing technology in countries around the globe.
“Our dual expertise both in manufacturing and in equipment finance, allows us to create competitive financial solutions that support our customers’ strategic business goals,” said Trevor Schauenberg, President and CEO of GE Capital Industrial Finance. “Additive manufacturing is a key contributor to the manufacturing evolution; we’re excited to enable its growth.”
GE has invested approximately $1.5 billion in advanced manufacturing and additive technologies, in addition to building a global network of Additive centers focused on advancing the science. GE also recently announced it has acquired a 75% stake in Concept Laser GmbH and 76% of the shares in Arcam AB – both producers of metal additive machines. GE is now well positioned to advance the additive manufacturing revolution across several industries. As a leading end user and investor in additive technology, GE is experiencing its transformative engineering and manufacturing power across the company’s industrial businesses.
“Additive manufacturing is the new revolution, changing the way we design and manufacture products faster, more sophisticated and more cost efficient,” said Mohammad Ehteshami, Vice President for Additive Integration at GE Additive. “By partnering with GE Capital, we’re now able to democratize additive manufacturing, making it easier for businesses to buy additive machines, fostering their competitiveness and accelerating the adoption rate. We’re excited to be part of the additive revolution.”
GE Additive is part of GE, the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE Additive offers a full line of metal additive manufacturing machines, materials and engineering solutions to customers in many industries including aerospace, medical, automotive and luxury goods. Visit GE Additive at www.geadditive.com
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com
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GE recently announced two acquisitions in the additive industry that are relevant to this announcement.
- On December 8th 2016, GE finalized a deal to acquire a 75% stake in Concept Laser for $599 million (€549 million). Concept Laser is a pioneer in the field, designing and manufacturing powder-bed-based laser additive machines with customers in the aerospace, medical, dental, automotive, and jewelry industries.
- On November 14th, GE agreed to purchase controlling shares of Arcam AB of Sweden,following the conclusion of an extended public tender offer. Arcam invented the electron beam melting machine for metal-based additive manufacturing, and also produces advanced metal powders. Its customers are in the aerospace and healthcare industries.