OK International Closes on Minority Investment in 3D Printing Company
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.
For more information, visit www.okinternational.com and www.quant3d.com.
OK International, Inc.
OK International is a leading global manufacturer of bench tools, equipment and related products that are used in the electronics and industrial assembly market place.
OK International is committed to understanding the product needs of its customers and supplies professional grade products that are innovative, reliable, price competitive and easy to use. Through a global sales channel, OK International provides expert product support and responsive customer service, with localization to meet regional market needs.