3D printing brand to encompass bench top & industrial
OK International has closed on a minority investment and product development agreement with TierTime Technology, a 3D printing company. Alongside this announcement, OK International has also unveiled a brand focused on 3D printing called Quant 3D. The Quant 3D brand will encompass both bench top and industrial 3D printers for prototyping and manufacturing applications.
The investment in TierTime aligns with OK International’s strategic focus to develop innovative and industry leading products for the industrial and commercial manufacturing markets. In addition to the Quant 3D bench top printers currently available, the two companies entered into a technology agreement to co-develop a line of 3D industrial printers that are scheduled to be launched later this year.
“We are very excited about this investment in TierTime Technology, which represents OK International’s entrance into this rapidly growing segment which some industry experts predict will grow 17% annually over the next several years,” said Christopher Larocca, President of OK International. “TierTime is a technology leader in the 3D printing market and provides a strong platform for our 3D printing business. By leveraging our expertise in thermal management and material dispensing, we intend to develop and market a broad line of industrial printers across multiple 3D printing technologies.”
According to a recent market report published by Transparency Market Research, the global 3D printing market reached US$2.2B in 2012, and is expected to exceed US$7.2B by 2019, growing at a CAGR of 16.8% from 2013 to 2019.
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