Aerojet Rocketdyne (NYSE: AJRD) has purchased 3D Material Technologies from ARC Group Worldwide for an undisclosed sum in a move to expand its capabilities to develop additive manufacturing-based metal alloy components for aerospace power and propulsion systems.
œThe addition of 3DMT™s capacity and expertise in metal alloy additive manufacturing expands our range of products and services in the space and defense markets, Eileen Drake, president and CEO of Aerojet Rocketdyne, said in a statement published Friday.
Drake added the transaction allows the company to expand its use of additive manufacturing, which œwill continue to play an important role in lowering costs and production timelines.
Florida-based 3DMT provides 3D printing services for defense, aerospace, industrial and medical sector clients and will continue to operate through its Daytona Beach, Fla.-based facility with its existing employees.
