3D Systems Accelerates Growth in Saudi Arabia's 3D Printing Sector
3D Systems Makes Significant Strides in the Middle East
3D Systems (NYSE: DDD) is making impressive advancements in its partnership with the Saudi Arabian Industrial Investments Company, known as Dussur. This collaboration has led to the establishment of the National Additive Manufacturing Innovation Company (NAMI), which aims to revolutionize 3D printing within the Kingdom. The partnership focuses on deploying state-of-the-art 3D printing technologies specifically tailored for Saudi Arabia's critical energy and defense sectors.
Milestones Achieved by NAMI
NAMI's journey has been marked by some remarkable achievements. Firstly, the Saudi Electric Company, the largest electricity producer in the Middle East, has committed to a strategic investment by acquiring a 30% stake in NAMI. This partnership will streamline the production and supply timelines for spare parts, enhancing efficiency and operational effectiveness within the energy sector.
Advancements in Energy Production
Through the strategic relationship with the Saudi Electric Company, NAMI is set to implement new workflows that will promote the adoption of 3D printing technologies for vital energy infrastructure. By leveraging 3D Systems’ vast experience in energy applications, this partnership has the potential to not only enhance production capabilities but also foster the development of a skilled workforce to meet rising energy demands.
Innovations in Oil & Gas Infrastructure
In a significant move towards sustainable practices, NAMI has entered a $26 million framework agreement with the Modern Isotope Factory (MIF) to produce up to 2,000 tungsten core components. These components are essential for non-destructive testing (NDT) devices, which play a crucial role in ensuring the integrity of pipelines and other critical infrastructure. The shift from depleted uranium-based parts to tungsten aligns with Saudi Arabia's regulatory goals while also fostering local manufacturing efforts.
Aerospace & Defense Collaboration
Further solidifying its innovative presence, NAMI has partnered with Lockheed Martin, a giant in the aerospace and defense sector. Together, they are focused on qualifying and manufacturing crucial military components using additive manufacturing within Saudi Arabia. This collaboration aims to advance local production capabilities, ensuring that parts produced in the Kingdom can be utilized in international markets, thus reinforcing Saudi Arabia's standing in global supply chains.
Thoughts from 3D Systems Leadership
Dr. Jeffrey Graves, President and CEO of 3D Systems, expressed enthusiasm about the rapid economic transformation occurring in Saudi Arabia, particularly through the Vision 2030 initiative launched by Crown Prince Mohammed bin Salman. He noted, "This endeavor creates tremendous opportunities for disruptive technologies like 3D printing to thrive in the region. Our goal is to become pivotal technology partners fostering the Kingdom's industrial future. By joining forces with prominent players like the Saudi Electric Company and Lockheed Martin, we are leveraging our expertise in additive manufacturing to support local production and technology advancement."
About 3D Systems
Founded by Chuck Hull nearly four decades ago, 3D Systems pioneered the 3D printing industry with a vision to transform manufacturing methodologies and product design. Today, 3D Systems continues to lead with innovative solutions in 3D printing technology, materials, and software tailored for various high-value markets, including medical, aerospace, and transportation sectors. The company's commitment to transforming manufacturing reflects their dedication to driving future advancements.
Frequently Asked Questions
What is NAMI?
NAMI stands for the National Additive Manufacturing Innovation Company, established by 3D Systems and Dussur to innovate 3D printing technologies in Saudi Arabia.
What milestones has NAMI achieved?
NAMI has secured pivotal agreements with the Saudi Electric Company and has partnered with Lockheed Martin for military manufacturing.
How is NAMI impacting energy production?
By partnering with the Saudi Electric Company, NAMI is optimizing 3D printing processes to streamline energy infrastructure's component production.
What role does Lockheed Martin play in this initiative?
Lockheed Martin collaborates with NAMI to produce military aerospace components, enhancing local capabilities and integration into international markets.
How does 3D Systems support NAMI?
3D Systems provides advanced technologies, expertise, and resources to drive NAMI's initiatives and foster local manufacturing within Saudi Arabia.
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