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GKN signed a Memorandum of Understanding with GE Additive, Concept Laser, and Arcam AB to collaborate on additive manufacturing. GKN becomes a GE Additive development and production center and a preferred powder supplier, while GE supplies additive machines and services.
GE executed the agreement to acquire a 75% stake in Concept Laser, a German manufacturer of metal 3D printing technology.
GE agreed to acquire a 75% stake in German metal additive manufacturing machine maker Concept Laser for $599 million, with an option to take full ownership later. Concept Laser's founder will remain CEO and the Lichtenfels headquarters will become a new German centre for GE.