The company has announced its plans to establish a new company, called BASF 3D printing Solutions GmBH by early September.
German company BASF SE (ETR:BAS) is officially making the leap from chemicals to 3D printing, it announced on Friday (July 28).
According to the company’s press release, BASF will launch a new company called BASF 3D Printing Solutions GmBH, beginning September 1, 2017, with a focus on expanding its business with materials, systems solutions and other services on the 3D printing industry.
In order to meet a range of requirements, BASF will work with researchers and engineers from its company–as well as outside partners–to develop the right solutions for its customers–which will primarily be industries looking to use 3D printing for industrial production, such as: automotive, aerospace, and consumer goods.
“The field of 3D printing for industrial applications is highly dynamic and still emerging. This means there is a need for agile, startup-like structures with interdisciplinary teams and quick decision-making processes,” Volker Hammes, managing director at BASF, said in the release. “Combining the customer-focused 3D printing activities in one location at a dedicated business is an important success factor.”
BASF’s interest in 3D printing stems all the way back to 2015 when the company announced it had signed an agreement with Poietis–the first company to develop 3D laser-assisted bioprinting–for research and development in the cosmetics industry.
Since then, BASF has expanded its 3D printing portfolio to include a collaboration with HP (NYSE:HPQ) to provide 3D printing materials through HP’s HP Multi Jet Fusion Open Platform, which was announced in November 2016.
Prior to BASFs announcement last Friday, the company announced in early May that it had teamed up with Essentium to power 3D printing of functional parts.
In short, BASF’s transition to pursuing 3D printing solutions has clearly been in the works for some time. As noted in the press release, the new company will employ roughly 30 experts in the 3D printing industry, most of whom are already employees of BASF.
Since Friday’s announcement, shares of BASF have increased marginally by 1.07 percent to close at €80.59 on Monday (July 31).
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.