Minnesota, US – Stratasys has sold its Stratasys Direct urethane facility in Poway, California to the Lamarjean Group, whose PolyCraft Tech business specialises in urethane casting. Financial terms were not announced.
Divesting the non-core urethanes business is part of an operational transformation that began earlier in the year. “[The sale] is intended to drive better focus, accountability, internal efficiency, and speed to customer, while simultaneously improving profitability,” the company said.
Stratasys specialises in 3D printing, offering smart and connected 3D printers and software. It also offers a range of polymer materials and parts on demand.
“This is an important step in aligning the business to the company’s growth strategy and streamlining the organization for improved efficiency,” said Stratasys CEO Yoav Zeif. “With even greater focus on the core strengths and technologies of Stratasys, the team will be even better positioned to provide customers with leading additive manufacturing solutions.”