GE logo
GE has announced Arcam AB has delisted from the Nasdaq (Stockholm) exchange, weeks after the company purchased controlling shares in the company.
The multinational conglomerate acquired around 77% of the Swedish metal 3D printing's outfit at the end of 2016, and a year later increased its ownership to nearly 95%. Upon the announcement of its increased control of the company, GE outlined its intentions to delist Arcam's shares on the Nasdaq Stockholm exchange, and January 26th, 2018 marked the last day of trading of Arcam stock. This development will now allow for a more fulsome integration with the GE business.
Based in Sweden, Arcam is the company behind electron beam melting machines for metal-based additive manufacturing. It has also been a leading producer of advanced metal powders, working closely with customers in the aerospace and orthopaedic industries. Founded in 1997, Arcam has been committed to offering cost-effective, metal 3D printing solutions, looking to offer freedom in design, excellent material properties and high productivity.
Nearly 20 years after the company was established, it began to attract the attention of GE, a Fortune 500 company who had recently established its own 3D printing business, GE Additive. Along with Concept Laser, the majority of Arcam's shares were bought out in a deal believed to be worth more than $1bn. In December, it was announced that Arcam CEO, Magnus Rene, and CFO, Johan Brandt, would both leave their positions this year.
Towards the end of 2017, at formnext powered by TCT, GE Additive unveiled the first product developed with Concept Laser, before later revealing the H1 prototype. As yet, there has been nothing to show for the company's acquisition of Arcam in terms of product releases, but GE Additive's move to take complete control of Arcam and delist its shares is a significant development.
