LUPBURG, GERMANY and PEORIA, IL, March 14, 2017 – FIT Additive Manufacturing Group, specializing in innovative solutions in the field of additive manufacturing, and Caterpillar Inc. (NYSE: CAT) today announced that they have entered into a strategic alliance agreement. Under the agreement, FIT Additive Manufacturing Group and Caterpillar will focus on design and printing for additive manufacturing of aluminum and titanium parts.
The strategic alliance will bring together leaders in their fields to take advantage of the benefits of additive manufacturing specifically in the heavy equipment manufacturing space. Caterpillar will bring product-specific knowledge and FIT Additive Manufacturing Group will bring the knowledge for additive design. This relationship will complement the ongoing work in Caterpillar’s Additive Manufacturing Factory. The strategic alliance will also strengthen FIT Additive Manufacturing Group’s commitment to the industrial equipment market.
Carl Fruth, CEO of FIT Additive Manufacturing Group, said: “We are thrilled to enter into a strategic alliance with Caterpillar. Caterpillar is a world leader in many markets, which will benefit greatly from additive manufacturing. However, this requires innovative technologies and new thinking combined with experience and deep know-how. Our companies complement each other with their respective strengths.”
“Caterpillar has a long history of creating innovative products designed to fit the needs of our customers and entering into a strategic alliance with a leader in additive manufacturing will help further that tradition,” said Stacey DelVecchio, Caterpillar Additive Manufacturing Project Manager. “Not only will Caterpillar now have access to FIT Additive Manufacturing Group’s cutting-edge technologies in additive manufacturing but this alliance will also help accelerate our adoption of 3-D printing.”
The strategic alliance between FIT Additive Manufacturing Group and Caterpillar will have an initial three-year term and will evolve to the next step based on the success of the alliance.
For more than 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2016 sales and revenues of $38.537 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments – Construction Industries, Resource Industries and Energy & Transportation – and also provides financing and related services through its Financial Products segment.
For more information, visit caterpillar.com. To connect with us on social media, visit caterpillar.com/social-media.
About the FIT Additive Manufacturing Group:
Founded in 1995, FIT Additive Manufacturing Group is a leading German provider of rapid prototyping services and additive design and manufacturing (“ADM”) via its subsidiaries FIT Prototyping GmbH and FIT Production GmbH. Group revenue in 2016 was EUR 24 million – an increase of forty per cent versus prior year. FIT Additive Manufacturing Group employs 250 people, most of them at the company’s headquarters in Lupburg, Germany. The FIT Additive Manufacturing Group operates further subsidiaries, e.g. in Hamburg, Germany, and Boston, USA.
More information online: www.fit.technology