AML3D Limited (ASX:AL3) Opens US Technology Centre
Operational Update
AML3D Limited (ASX:AL3) announces the official opening of its US technology centre located in Stow, Ohio. The facility is now fully operational with one ARCEMY industrial metal 3D printing system already on site and a second planned for installation in January 2025. These advanced systems will enable AML3D to provide robust additive manufacturing solutions for both US and international clients.
Expansion Plans
The company aims to more than double production capacity at the Stow facility by adding up to two additional ARCEMY systems. This expansion is a strategic move to accommodate an anticipated surge in US Defence spending on advanced manufacturing solutions, specifically aimed at supporting the US Navy’s Submarine Industrial Base.
Financial Performance
To date, AML3D has secured approximately A$16 million in US contracts under its ‘Scale Up’ strategy, which was initiated earlier this year. The Stow facility plays a pivotal role in fulfilling these contracts, including a significant A$2.27 million order from the Tennessee Valley Authority.
Executive Comments
Pete Goumas, President of US Operations, expressed enthusiasm about the facility’s opening, stating, “We can now super-charge our US ‘Scale Up’ strategy.” He noted that the operational hub will enhance responsiveness to US customers, attract new contracts, and contribute to rebuilding sovereign manufacturing in the US.
CEO Sean Ebert added, “The opening of our US manufacturing hub and plans to expand its capacity are crucial steps in our US strategy. This investment allows us to meet the growing demand effectively, particularly from the US Navy.” Ebert also highlighted that the expanded US operations will free up capacity in Australia, potentially enabling a broad international rollout of their growth strategy.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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