Abstract Since last year, General Electric Company GE has been expanding its main business in the industry to ensure that after the divestiture of financial assets, the company's revenue can still achieve significant growth. Therefore, the group has been investing heavily in the power, renewable energy, medical, aviation and other subdivisions...
Since last year, GE has been expanding its main business in the industry to ensure that after the divestiture of financial assets, the company's revenue can still be greatly developed. As a result, the group has been investing heavily in power, renewable energy, medical, aerospace and other segments and expanding its product portfolio. In the latest attempt, the company plans to invest $1.4 billion (about 9.3 billion yuan) to acquire two 3D printing companies: German SLM Solutions Group AG and Swedish Arcam, which will be used in the production of parts for the aviation industry. Last year, Sweden's Arcam had revenues of $68 million and employs 285 people. The German SLM Solutions Company has revenues of $74 million and employs 260 people. Through this acquisition, GE's goal is to achieve annual revenues of $1 billion in 3D printing manufacturing in FY 2020 and is expected to add value to its existing 3D printing products.
Jeff Immelt, Chairman and CEO of GE, said: "3D printing is an important step for GE to evolve into a digital industrial company. We provide the world's most innovative, state-of-the-art equipment, materials and software to the world. More productive, we are prepared to not only benefit our customers, but also to be a first-class supplier. 3D printing will drive new levels of productivity and meet the needs of our customers."
Since 2010, GE has invested approximately $1.5 billion in 3D printing manufacturing technology to meet the growing demand for products. And 3D printing will strengthen the company's aircraft engine parts supply chain. With 3D printing, the company is able to accelerate the production of aero engines and reduce lead times. Especially in some complicated parts with complicated design, it is very wasteful to cut expensive materials in the workshop. GE said that by 2020, the number of aero engine fuel nozzles for 3D printing will reach 40,000.
GE Aviation Group said that although GE's current production efficiency is still good, in the past three years, backlog orders still increased by 48%, reaching $154 billion. And the growth of this backlog will continue as demand for single-channel commercial aircraft will strengthen over the next 20 years.
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