MOSCOW (MRC) -- Covestro has completed the previously announced sale of its additives manufacturing business to 3D printing company Stratasys, the Germany-based polymer company said.
The additives manufacturing business provides material solutions for common polymer 3D printing processes and includes, among others, products of the resins and functional materials business Covestro acquired from DSM in 2021.
In addition to the selling price of about EUR43m, Covestro could receive an “earn-out” of up to EUR37m from Stratasys, subject to the achievement of certain performance metrics, it said.
Included in the sale are employees, research and development facilities and offices across Europe, the US and Asia.
We remind, Covestro has successfully started up a new world-scale facility for the production of chlorine in Tarragona, Spain. It is the first world-scale production plant for chlorine based upon the highly innovative and energy efficient ODC (oxygen depolarized cathode) technology invented by Covestro and its partners.