GE has recently agreed to purchase controlling shares of Arcam AB of Sweden following the conclusion of the extended public tender offer which ended in November. Arcam shares tendered during the extended acceptance period â combined with Arcam shares acquired by GE â correspond to approximately 73.57% of the total outstanding shares for GE.
Based in Mölndal, Sweden, Arcam AB is the inventor of electron beam melting machines for metal-based additive manufacturing, and a producer of advanced metal powders with customers in the aerospace and orthopedic industries. GEâs controlling ownership of Arcam stock will enable GE to influence the company and its future direction. GE will invest significantly in Arcamâs products and technology and will ultimately influence the makeup of the Arcam board of directors.
âGEâs strong position as a controlling shareholder of Arcam is a key step in our overall additive strategy,â? said David Joyce, GE vice chairman and president and CEO of GE Aviation. âWe are delighted with our relationship with Arcam, which follows our recent announcement with Concept Laser. GE is becoming a key player in the additive space.â?
