Desktop Metal ($DM) Receives Major Order from German Automaker for Manufacturing Systems

November 25, 2022 – TheNewswire – Desktop Metal (NYSE:DM) has announced receipt of a large $9 million order from a major German automaker. The purchase order was placed on the company’s binder jet additive manufacturing systems, which will be used by the automaker for mass production of powertrain components.

The company says that it is the second order from the same automaker in less than a year, increasing the client’s purchase of Desktop’s additive manufacturing systems to $16.9 million. The binder jet systems are being utilized to support production of digitally casted powertrain components.

Ric Fulop, Founder and CEO of Desktop Metal stated: “The Additive Manufacturing industry continues to grow for mass production applications, with the most innovative companies in the world leading the way. Our team is working with a significant number of global automotive OEMs to expand adoption of our differentiated AM technologies for end-use car components, and this most recent order further demonstrates our customer’s success changing the way they make products and supports Team DM’s vision for Additive Manufacturing 2.0.”

Founded in 2015, Desktop Metal is based in Burlington, Massachusetts. The company is accelerating the transformation of manufacturing with an expansive portfolio of 3D printing solutions, ranging from rapid prototyping to mass production.

Shares of Desktop Metal trade on the NYSE under the ticker symbol DM. For more information visit www.greenstocknews.com

Source: https://greenstocknews.com/newswire/desktop-metal-dm-receives-major-order-from-german-automaker-for-manufacturing-systems

Disclaimer

This content is not financial advice and is for information, education and entertainment purposes only. Green Stock News is not responsible for any losses related to the financial decisions made by you. Video content and other materials including web content are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be constructed as advice designed to meet the particular investment needs of any investor. Green Stock News is not responsible for any gains or losses that result from the opinions expressed in this video or materials that it publishes electronically.

View original video news clips here: https://greenstocknews.com/green-stock-newswire

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button