Renishaw gained partnership with MTT Technologies, through acquiring the entire share capital of MTT Investments (MTT). MTT Technologies was a subsidiary entity of MTT Investments.
MTT Technologies offers design services in developing and manufacturing additive manufacturing and rapid prototyping systems, which include selective laser melting, metal casting and vacuum casting machines and processes.
“MTT has a range of interesting technologies including selective laser melting equipment which currently has its main markets in aerospace and medical devices, but also has potential for use in other sectors,” says Sir David McMurty, Reinshaw Chairman and Chief Executive.
“All its products are complementary to Renishaw’s existing technologies and business and we look forward to developing an exciting new business together.” According to MTT’s CEO, Simon Scott, the business between the two companies were a perfect partnership.
“We’re confident that Renishaw will be able to provide us with the ability to fully unlock the potential of SLM allowing us to compete with our peers and aim for a market leadership position. It has recognised the potential of the technology through the achievements we have made so far on very limited resources,” says Scott.
"Renishaw also uses additive manufacturing for its own commercial activities and therefore I believe that Renishaw has a good level of confidence in both the technology and the potential of our team.”
MTT and its operations will be incorporated within Renishaw as a new product division, which will continue to be based in their original company headquarters, Stone, Staffordshire UK.