Stratasys Ltd., announced today the successful culmination of the sale of its Stratasys Direct, Inc. ("Stratasys Direct") urethane facilities in Poway, Calif.. This strategic transaction was consummated on August 31, 2023, with the Lamarjean Group, operating as PolyCraft Tech, as the acquiring entity.
Stratasys Direct executed this divestiture as part of a comprehensive operational transformation launched in early 2023. This endeavor was designed to sharpen the organization's focus, bolster internal efficiencies and enhance speed to market, all while fortifying profitability.
Gurvinder Kahlon, general manager and vice president of Stratasys Direct, emphasized the transaction's significance, stating, "The closing of this transaction underscores our commitment to delivering high-quality, specialized products to customers worldwide while bolstering Stratasys Direct's profitability. With a solid foundation and expansive technological expertise, Stratasys Direct is poised for a promising future as we continue advancing initiatives to drive stronger margins and position the business for sustained growth."
Dr. Yoav Zeif, CEO of Stratasys, reiterated the company's strategic vision, saying, "This represents a pivotal move in aligning our business with Stratasys' growth strategy and optimizing organizational efficiency. The Stratasys Direct team has already demonstrated remarkable progress in advancing our SAF and P3 technologies and fostering essential customer relationships through cross-selling. With an intensified focus on Stratasys' core strengths and cutting-edge technologies, the team is exceptionally positioned to deliver pioneering additive manufacturing solutions to our valued customers."
The sale of the non-core urethane facilities underscores Stratasys' commitment to refinement, innovation and customer-centricity, solidifying its position as a leader in the ever-evolving world of 3D printing solutions.
Connect With Us
