ITT Inc., a manufacturer of highly engineered critical components and customized technology solutions, invested in CRP Technology and CRP USA (collectively “CRP”), a group known for the development and manufacturing of reinforced composite materials for 3D printing.
Named Windform, its portfolio of high-performance materials enable engineers to develop complex, customized designs while providing lightweight and exceptionally durable products. They can be used in a wide range of industries including the aerospace, defense, premium automotive, and motorsports.
While the amount of investment has not been disclosed, we do know that ITT now owns 46% of CRP Technology and 33% of CRP USA.
“CRP is a smart investment for ITT. With almost three decades of leadership and innovation in additive manufacturing, CRP enables ITT to expand its position in material science and gain hands-on experience with additive manufacturing as the industries we serve continue to transform,” said Luca Savi, Chief Executive Officer and President of ITT. “We are proud to partner with CRP as they continue to grow and deliver industry-changing innovations. Together, ITT and CRP can bring to market new products that deliver sustainable, lightweight, durable solutions for our customers.”
If you are a regular reader of 3D ADEPT, you certainly know that CRP’s lightweight, fiber-reinforced composite materials first served industrial 3D printing applications for racing. The company now works with engineers in the transportation industries to create complex designs that help reduce mass, weight, and costs, while shortening lead times and enhancing endurance.
“This transaction will allow CRP to accelerate our growth-focused business plan in the markets we serve today and in new global markets,” said Franco Cevolini, Chief Executive Officer of CRP Technology. “We are proud to work with ITT to extend our scope and drive further innovation in the additive manufacturing industry.”
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