Sintavia has received a minority investment from the Americas subsidiary of Sumitomo Corporation, a leading trader of goods and services.
While terms of the agreement have not been disclosed, the investment of Sumitomo Corporation of Americas (SCOA) in Sintavia has been made to enable the manufacturer to access SCOA’s network of global aerospace and oil & gas players.
The alliance between the two primarily aims to support Sintavia’s worldwide growth, but through Sumitomo group companies, they have also considered the potential to work alongside industrial partners to optimise products with additive manufacturing (AM) technology. One of these is Howco, an integrated supply chain partner for the global oil & gas industry, which supplies steel alloys, and turnkey machined and assembled components. With Sintavia, the company will seek industry-specific business development opportunities, which will likely lean on Sintavia’s AM capabilities.
Sintavia has recently increased its AM capacity to nine metals machines, with plans to more than double its portfolio next year. And as that expansion occurs, Sintavia has felt it necessary to source a partner who can help to achieve its growth ambitions.
“With SCOA as a long-term partner, we recognise that we are aligning ourselves with a global leader in multiple end markets that is committed to supporting our growth,” commented Brian R. Neff, Sintavia’s Chairman and CEO. “Demand for Sintavia’s brand of quality AM production has boomed this year, and we recognise that in order to fully meet this demand over the coming years we will need to find a partner to help us manage growth. We believe we have found that partner in SCOA.”
“SCOA has spent decades building an enormous global network within several industries, including aerospace and oil & gas,” added Kenichi Hyuga, SVP and General Manager of SCOA’s Construction and Transportation Systems Group. “We believe Sintavia’s highly advanced technology will add immediate value to our current business relationships, and to position us for even greater business opportunities in the future.”
