GE reaches agreement to acquire 75% stake in Concept Laser GmbH of Germany

GE has reached an agreement to acquire a 75% stake in Concept Laser GmbH for US$599m (€549m). The agreement allows for GE to take full ownership in a number of years. Privately-held Concept Laser has more than 200 employees and is headquartered in Lichtenfels, Germany, with significant operations in the United States (Grapevine, Texas), China, and a global network of more than 35 distributors and agents. Concept Laser is a pioneer in the field of metal additive manufacturing. Concept Laser designs and manufacturers powder bed-based laser additive manufacturing machines. Its customer base is focused on the aerospace, medical and dental industries, with a meaningful presence in automotive and jewelry. Concept Laser’s machine range incorporates both the largest and smallest build envelopes currently available on the market and are capable of processing various powder materials including titanium, nickel-base, cobalt-chromium and precious metal alloys, as well as hot-work and high-grade steels and aluminum.