Saturday, May 18, 2024

Stratasys Completes Sale of its Stratasys Direct Parts-Making Facility in Austin, Texas to Cumberland Additive

EDEN PRAIRIE, MN, USA and REHOVOT, Israel, Nov 17, 2023 – Stratasys Ltd. (NASDAQ: SSYS), a leader in polymer 3D printing solutions, announced it has completed the sale of the Stratasys Direct, Inc. facility in Austin, Texas to Cumberland Additive, Inc.

Stratasys Direct is the company’s on-demand parts service bureau. The sale of the metal facility in Austin follows the August sale of the Stratasys Direct urethane facilities. This decision, along with operational transformation efforts that began in early 2023, will drive better focus, accountability, internal efficiency, and speed to customer, while simultaneously improving profitability.

This transformation positions the Stratasys Direct parts business to:

  • Showcase the advantages of Stratasys solutions for production-scale additive manufacturing.
  • Provide more value to customers through cross-sell and infinite capacity extension.
  • Focus Stratasys Direct expertise on providing the correct solutions for customer applications, regardless of technology.
  • Contribute meaningful growth and accretive income by leveraging technology and industry expertise.
  • Accelerate development of Stratasys’ manufacturing solutions portfolio.

“We are focusing Stratasys Direct to maximize synergies with our market-leading additive manufacturing business,” said Gurvinder Kahlon, General Manager and Vice President, Stratasys Direct Manufacturing. “Stratasys Direct has best-in-class technology, deep expertise, and focused management teams that are poised to deliver strong results for our customers and help them achieve their manufacturing needs.”

About Stratasys

Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products and healthcare. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.

To learn more about Stratasys, visit www.stratasys.com, the Stratasys blogX/TwitterLinkedIn, or Facebook.

Nitin Patil
Nitin Patil
Editor and Director of Content, DailyCADCAM.com. Nitin completed his Master's in Mass Communication & Journalism and having 13 years of work experience as an editor, content writer with renowned international technical magazines and media companies. He is associated with CAD,CAM industry since 2008.
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