Arcam AB, listed on NASDAQ Stockholm, and a leading supplier of Additive Manufacturing (“AM”) equipment, announces that its powder manufacturing subsidiary AP&C in Montreal, Canada, has agreed with Investissement Québec (IQ) on a financing arrangement where IQ supports AP&C investment in a new powder plant with interest free loans and grants.
The investment in a new facility was announced in May 2016. The investment is totally up to 31 MCAD and IQ will supply interest free loans up to 10 MCAD and grants up to 1.5 MCAD. The expansion of AP&C follows on significant growth in 2015 and 2016 and a surge in demand for AP&C’s high quality titanium powders for additive manufacturing.
“The support from Investissement Québec and Montreal International is important for our ability to expand quickly to address the increased demand for high end titanium powder. Arcam is determined to serve the fast growing Additive Manufacturing industry through cost efficient solutions thus converting traditional manufacturing into Additive Manufacturing. A requisite is to offer highest quality metal powder for production at competitive cost”, says Magnus René, CEO of Arcam.
“Montréal International, Greater Montréal’s economic development agency, provided strategic support that has been key in making our expansion project possible. With this investment we can provide our existing and future clients with superior quality materials to meet the high manufacturing standards of the aerospace and biomedical industries. The new powder production facility and advances in atomization facility and advances in atomization technology, will significantly increase our production capacity in 2017 and beyond,” says Alain Dupont, President of AP&C.
For further information:
Magnus René, CEO and President, Arcam
Cell: 46 702 79 89 99 or 1 781 266 6957