Stratasys
Stratasys has announced that on August 31, 2023, it completed the sale of the Stratasys Direct, Inc. Urethane facilities located in Poway, California to the Lamarjean Group, doing business as PolyCraft Tech.
Stratasys Direct is the on-demand parts service bureau of Stratasys. The company says the decision to sell the non-core Urethane facilities is part of an operational transformation effort that began in early 2023 and is intended to drive better focus, accountability, internal efficiency, and speed to customer, while simultaneously improving profitability.
“The closing of this transaction demonstrates the clear, decisive action we are taking to ensure our team focuses on delivering quality and specialised products to customers around the world, and to improve the profitability of Stratasys Direct,” said Gurvinder Kahlon, General Manager and Vice President of Stratasys Direct.
Kahlon continued: “Stratasys Direct has a strong foundation with a breadth of technological expertise, and I am confident in the opportunities ahead as we continue to take steps to drive stronger margins and position the business for future growth.”
Yoav Zeif, CEO of Stratasys said: “This is an important step in aligning the business to the company’s growth strategy and streamlining the organisation for improved efficiency. The Stratasys Direct team is already improving our SAF and P3 technologies and they have grown key customer relationships through cross-selling.
“With even greater focus on the core strengths and technologies of Stratasys, the team will be even better positioned to provide customers with leading additive manufacturing solutions.”
Stratasys Direct Manufacturing was formed in 2015 when Solid Concepts, Harvest Technologies, and RedEye Services were merged by Stratasys to create its service bureau.
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