By Owen Tucker-Smith
Shares of 3D Systems climbed after the company announced a partnership with a unit of Daimler Truck to print spare vehicle parts.
3D Systems stock was recently up 24%, to $3.77, in Friday afternoon trading, on pace for its largest increase since June 2021. The 3-D-printer company's shares are up 15% this year, but have sunk 2.2% over the past month.
The Rock Hill, S.C., company said that it had worked with Daimler Buses, a German commercial vehicle manufacturer, to design a technology that can print remote spare parts used in the underhood and cabin interior of a vehicle. The project was a collaboration between the two companies as well as software companies Oqton and Wibu-Systems.
3D Systems said the printing solution would cut down production time by 75%, and that it will save truck and bus companies indirect costs because their vehicles will be up and running faster when they require maintenance.
"By commercializing this digital service solution, Daimler Buses is not only adopting a new technology; they're fundamentally reshaping the supply chain for greater resilience and efficiency," said Jaime Garcia, an additive solutions manager at 3D Systems.
Write to Owen Tucker-Smith at owen.tucker-smith@wsj.com
(END) Dow Jones Newswires
January 24, 2025 14:50 ET (19:50 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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