3D Systems Announces Major Milestones in Saudi Arabian Growth Initiative

Core Insights - 3D Systems and Dussur established the National Additive Manufacturing Innovation Company (NAMI) to support Saudi Arabia's Vision 2030 Program, focusing on advanced 3D printing technologies in the defense and energy sectors [1][2] - NAMI has achieved significant milestones, including partnerships with major companies like Saudi Electric Company and Lockheed Martin, enhancing local manufacturing capabilities [4][5] Group 1: Company Developments - NAMI reached critical milestones in deploying advanced 3D printing technologies across Saudi Arabia's energy and defense sectors [4] - Saudi Electric Company acquired a 30% stake in NAMI to enhance production efficiency and reduce costs for spare parts [5] - Lockheed Martin is collaborating with NAMI to manufacture military and aerospace components, reinforcing Saudi Arabia's role in global supply chains [5] Group 2: Industry Impact - The partnership with Saudi Electric Company aims to accelerate the adoption of 3D printing for energy infrastructure applications and develop a skilled workforce [5] - NAMI signed a $26 million framework agreement with Modern Isotope Factory for manufacturing tungsten components, aligning with localization goals [5] - The collaboration with Lockheed Martin is expected to enhance the adoption of additive manufacturing in the aerospace and defense sectors, utilizing 3D Systems' Direct Metal Printing technology [5]