Sintavia, LLC, has announced that it has signed a term sheet to form a joint venture with Howco Group in support of the development of Additive Manufacturing within the Oil & Gas industry. The joint venture will be branded under the Howco Group name and be co-located at Howco’s North American headquarters in Houston, Texas. It was expected that the joint venture will commence operations later this year.
“Many of the proprietary additive manufacturing processes that Sintavia has developed for the Aerospace & Defense industry apply equally to the Oil & Gas industry,” stated Brian Neff, Sintavia’s Chairman and Chief Executive Officer. “We are excited to work with Howco to deliver the economic and technical benefits of AM to our joint customers in the Oil & Gas industry.”
Howco, a wholly owned subsidiary of Sumitomo Corporation, is a leading global distributor of raw material and manufacturer of turnkey components for Downhole, Subsea and Surface equipment. The new joint venture will focus on material common to both the Aerospace & Defense and Oil & Gas industries, including nickel alloys and stainless steel. Additional terms of the joint venture were not disclosed.