BOSTON--(BUSINESS WIRE)--Desktop Metal (NYSE: DM) today announced it has acquired Aidro, a pioneer in the volume production of next-generation hydraulic and fluid power systems through metal additive manufacturing (AM) across a wide range of industries, including oil & gas, agricultural equipment, aerospace, and mobile and industrial machinery, among others.
Founded in 1982 and based in northern Italy, Aidro has almost 40 years of experience in the design and production of valves, manifolds, and various hydraulic components and fluid power systems. Aidro offers best-in-class expertise in design for additive manufacturing, including finite element analysis simulation and topology optimization techniques. Aidro engineers leverage these technical capabilities to redesign traditional hydraulic components for AM production using complex geometries to reduce weight, save space, and consolidate multiple components into one, eliminating assembly and welding requirements. Hydraulic components produced by Aidro using AM improve performance versus conventional manufacturing by optimizing flow channel placement and geometry to increase flow capacity and decrease pressure drops.
To offer customers innovative and custom solutions, Aidro has invested in AM facilities and processes alongside its conventional manufacturing capabilities. The company’s dedicated AM department features metal 3D printers, 3D scanning technologies, and ISO9001 and AS/EN9100 certifications, all leveraged to deliver high-performance products to customers, including industry-leading original equipment manufacturers (OEMs), while reducing production lead times for volume quantities of end-use components, spare parts, or on-demand rapid prototypes.
“This acquisition advances Desktop Metal’s strategy to support our major OEM customers with proprietary design and application know-how as well as through a combination of best-in-class AM products and high-value parts production across killer applications for AM 2.0,” said Ric Fulop, Founder and CEO of Desktop Metal. “Aidro brings a talented team with decades of experience in hydraulics and fluid power systems and a passion for leveraging AM to deliver performance advantages to their customers. We’re excited about the acquisition and look forward to advancing AM 2.0 for high-volume production of hydraulics, valves, fluid power systems, and many more end-use parts in development with Aidro.”
“Additive manufacturing offers benefits unmatched by conventional manufacturing, and once Aidro realized the advantages of leveraging AM, we quickly allocated resources to develop expertise and take advantage of the opportunity,” said Valeria Tirelli, Co-CEO and President of Aidro. “This partnership is the next step in our AM evolution, and now, with access to Desktop Metal’s scale and industry-leading AM 2.0 technology portfolio, including its volume production-focused metal binder jetting solutions, we’re thrilled at the growth potential for Aidro.”
“We are thrilled to join forces with Desktop Metal,” said Tommaso Tirelli, Co-CEO and VP Business Development of Aidro. “This partnership will enable us to continue investing in the expansion of AM for next-generation hydraulic solutions to disrupt massive industries such as oil & gas and aerospace.”
“With the collaboration and support of Desktop Metal, we will be able to take our AM capabilities in hydraulics to the next level,” said Alberto Tacconelli, GM of Aidro. “We are ready to embrace AM to develop innovative products for our customers, leveraging mass production technologies to achieve affordable part costs and high-performance designs that overcome the limitations of conventional manufacturing.”
About Desktop Metal
Desktop Metal, Inc., based in Burlington, Massachusetts, is accelerating the transformation of manufacturing with an expansive portfolio of 3D printing solutions, from rapid prototyping to mass production. Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, the company is addressing the unmet challenges of speed, cost, and quality to make additive manufacturing an essential tool for engineers and manufacturers around the world. Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by the World Economic Forum and named to MIT Technology Review’s list of 50 Smartest Companies.
For more information, visit www.desktopmetal.com.
Aidro s.r.l., founded in 1982 and headquartered in Italy, is a pioneer in design and production of components for hydraulic and fluid power systems via additive manufacturing. The Company offers innovative and custom solutions that leverage the benefits of additive manufacturing including lightweighting, assembly consolidation, and performance improvements, to customers across sectors such as oil & gas, industrials, agriculture, aerospace, and mobile and industrial machinery, among others.
For more information, visit www.aidro.it
This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to, the risks and uncertainties set forth in Desktop Metal, Inc.'s filings with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Desktop Metal, Inc. assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.