GE has announced plans to acquire SLM Solutions Group AG based in Lübeck, Germany. SLM produces laser machines for metal Additive Manufacturing with customers in the aerospace, energy, healthcare and automotive industries. The announcement coincides with news that GE is also seeking a takeover of Sweden’s Arcam AB.
“Additive Manufacturing is a key part of GE’s evolution into a digital industrial company. We are creating a more productive world with our innovative world-class machines, materials and software. We are poised to not only benefit from this movement as a customer, but spearhead it as a leading supplier,” stated Jeff Immelt, Chairman and CEO of GE. “Additive manufacturing will drive new levels of productivity for GE, our customers, including a wide array of Additive Manufacturing customers, and for the industrial world.”
SLM generated $74 million in revenues in 2015 with 260 employees. In addition to its operations in Germany, the company has sales and application sites worldwide. GE stated that it will maintain the headquarters and key operating locations of SLM, as well as retain the management team and employees.
“General Electric has already accompanied us as a user and customer since our inception. They assumed a pioneering role in aerospace technology and were early to identify the benefits of Selective Laser Melting, for example in terms of savings in the weight of components. They are entirely familiar with SLM Solutions’ multi-laser technology and its advantages vis-a-vis our competitors,” stated Hans-Joachim Ihde, founder and Chairman of the Supervisory Board of SLM Solutions Group AG.
The implementation of the takeover offer will be subject to a number of market standard conditions, in particular a minimum acceptance threshold of 75% and the approval by the anti-trust authorities.