Laser melting business snapped up by Renishaw
Staffordshire-based MTT Technologies has been taken over by Gloucestershire-headquartered Renishaw. MTT develops and produces manufacturing and prototyping systems.
These include machines for laser melting, metal casting and vacuum casting. It has 35 employees with subsidiaries in the USA and Italy and a branch office in France. Its operations will be incorporated within Renishaw as a new product division and will continue to be based in Staffordshire, the business said.
The entire share capital of MTT Investments and its subsidiary MTT Technologies were included in the deal.
Sir David McMurtry, Renishaw’s chairman and chief executive, said: "MTT has a range of interesting technologies including selective laser melting (SLM) equipment which currently has its main markets in aerospace and medical devices, but also has potential for use in other sectors.
"All its products are complementary to Renishaw’s existing technologies and business and we look forward to developing an exciting new business together."
