ge in 3d printing push raises arcam bid, to buy concept laser
FRANKFURT/SwedenReuters)- General Electric (GE. N) Increased the bid for Arcam ARCM, a Swedish 3D printer manufacturer. On Thursday, the company said it had agreed to buy Concept Laser, a privately held German 3D printing company. A day ago, GE abandoned the SLM solution for 3D printing (AM3D. DE) After consulting with activist investor Elliott, it owns 20% of land management and is acquired. \"As we move forward with the additional strategy, we have taken further steps to pursue ownership of Arcam,\" GE Aviation chief David Joyce said in a statement . \". \"We are pleased to announce today the acquisition of Concept Laser, thus becoming the strategic cornerstone of our additional strategy. Arcam, Concept Laser and SLM, are the three major manufacturers of metal machines in the world Based on 3D printing. GE and its competitors have begun to invest heavily in 3D printing, the so-called additive manufacturing, which produces fewer parts than traditional production methods, produces less waste, and expands the design In recent years, this technology has become more and more widely used in industrial mass production, from the production of Crown and medical implants to aircraft parts. GE raised Arcam\'s proposed bid from 300 crowns to 285 crowns per share, with the Swedish manufacturer of 3D printers valued at 6 crowns. 2 billion crowns ($696 million). It also lowered the minimum acceptance threshold for the offer to 75%. GE, one of Arcam\'s largest customers, said it controls a 46% stake in Arcam. According to a disclosure notice issued this month, Elliott owns about 10% of Arcam\'s shares. The U. S. Industrial Group is buying a 75% stake in Concept Laser for 0. 549 billion euros$599 million) The deal will allow GE to have full ownership in a few years. The customer base of Concept Laser is concentrated in the aerospace, medical and dental industries, while the main focus of Arcam is aerospace and medical implants. Arcam shares rose 8. 7%, matching the bid level at 0806 GMT (4:06 a. m. ET) Frankfurt\'s shares in Frankfurt fell 13%.