3D Systems Corporation (NYSE:DDD) announced today that it acquired from the Advanced Materials Division of Huntsman Corporation (NYSE:HUN) its RenShape® stereolithography print materials and Digitalis® rapid manufacturing 3D printer product line for $41 million in cash. This business generated $7 million of annual revenue during 2010, primarily from sales of RenShape® print materials.
Huntsman has been a global provider of RenShape® stereolithography, a portfolio of advanced materials formulated to print durable, robust parts and prototypes with outstanding accuracy, intricate reproduction of detail and a high-quality surface finish. These materials complement 3D Systems' product offering and are ideal for printing snap-fit polypropylene and ABS like parts and selectively colored medical models on 3D Systems' SLA® printers.
Digitalis® is a new MEMS (Microelectromechanical systems) rapid manufacturing printer currently in advanced stages of development and validation that is capable of manufacturing large numbers of parts simultaneously at high speed and accuracy.
This acquisition complements 3D Systems' print materials technology and intellectual property portfolio and adds the Digitalis® print engine to its printer family. 3D Systems plans to integrate these product lines into its growing rapid manufacturing and healthcare solutions portfolio. The company expects this acquisition to be immediately accretive to its net income and contribute favorably to its target operating model.
"We are pleased to deliver the benefits of Huntsman's complementary performance print materials and printers to our customers world-wide," said Abe Reichental, President and CEO of 3D Systems. "This acquisition is consistent with our growth strategy, complements our technology and product portfolio, and is immediately accretive to our target operating model."
Commenting on the sale, James Huntsman, President of the Advanced Materials division, said: "We are pleased that 3D Systems Corporation is now owner of these businesses. 3D has a rich heritage of being a pioneer and industry leader in stereolithography and rapid manufacturing systems. We are confident that these assets will be a great fit for 3D. This sale further enables us to concentrate our focus on our core competitive and strategic strengths, the construction, coatings, power, aerospace and electronics applications."
Huntsman is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, Huntsman has approximately 12,000 employees and operates from multiple locations worldwide. The Company had 2010 revenues of over $9 billion.
For more information, visit: www.huntsman.com or www.3dsystems.com