3D Systems Acquires Paramount Industries to Advance Aerospace and Medical Device 3D Printing
3D Systems (NYSE:DDD) announced the acquisition of Paramount Industries, a leader in product development and manufacturing solutions for aerospace and medical devices. This news comes on the heels of 3D Systems’s acquisition of My Robot Nation, and the $1.4 billion merger of Stratasys and Objet.
Abe Reichental, President and CEO of 3D Systems, made the statement, ”We are very pleased to add a proven direct manufacturing innovator of Paramount’s reputation, experience and scale to our rapidly growing, global network of on-demand parts services.”
This acquisition is the latest in a string of M&A deals by 3D Systems since the company went public in early 2011.
Paramount Industries itself is a 45-year-old company with deep expertise:
Paramount Industries is among the world’s most experienced manufacturers and providers of product development services, including product design and engineering, rapid prototyping, rapid tooling and direct manufacturing that produces custom parts direct from digital input.
Originally founded in 1966, Paramount has expanded its scope to apply advanced technology in all aspects of product development. Today, Paramount offers a comprehensive array of services. In addition to rapid prototyping and rapid tooling, Paramount sets the pace in direct manufacturing of precision parts from 3D CAD digital input, utilizing advanced Selective Laser Sintering technology. Paramount’s services also include injection molding, full-scale manufacturing from domestic and offshore facilities as well as assembly and packaging.
The video below showcases Paramount Industries’ high temperature laser sintering capabilities.
More information in the Press Release.