Hunting, an international energy services group, has invested $5.0 million in Cumberland Additive Holdings LLC (CAH) to take its first steps in the AM market. The announcement follows the recent announcement of Cumberland Additive’s expansion to the Neighborhood 91 (N91).
As a reminder, Cumberland Additive provides engineering and production services using Powder Bed Fusion Technology in metals and advanced polymers. With AS9100D and ITAR accreditations, the company supports customers in the aerospace, defense, space, oil and gas and energy sectors. It currently occupies 30,000 square feet (2787.093 m2.) at their Texas location.
As said when Kornit Digital acquired Voxel8, sometimes it’s up to companies in vertical industries adopting AM to enhance the use of the technology in their specific sector of activity. Through this investment, Hunting aims to become a 27% holder in the capital of CAH.
Jim Johnson, Chief Executive of Hunting, commented: “Hunting’s investment in CAH is a key part of our strategy to access new manufacturing technologies which are being adopted by our current customers, but also provides new market and customer opportunities in sectors complementary to our core competencies of precision engineering and strongly quality assured products and procedures, including aerospace and defense. The Group was attracted by CAH’s materials and process engineering know-how and expertise which we believe will complement our existing engineering and manufacturing leadership in our chosen sectors of focus. We look forward to building a strong collaboration with our existing businesses in the coming years.”
The investment in CAH provides Hunting with access to the fast growing additive manufacturing sector, which is increasingly being adopted by many of the Group’s current oil and gas clients, while also providing opportunities for Hunting to enter new sectors complementary to the Group’s current customer profile.
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