(l-r) Brian Neff, CEO of Sintavia, and Kevin Hyuga, SVP and General Manager of Sumitomo Corporation of Americas
Sumitomo Corporation of Americas (SCOA), the largest subsidiary of Sumitomo Corporation, has entered into an agreement to increase its investment in Sintavia, LLC, a Tier 1 metal additive manufacturer serving the aerospace and space industries. The parties jointly announced that the minority investment, which follows an initial investment by SCOA in 2018, will be used to fund Sintavia's rapidly growing business of providing additively manufactured parts to large aerospace and space companies.
The investment will help Sintavia scale its production capacity for flight-critical components that are produced via additive manufacturing (AM) while continuing to advance its technical capabilities. In addition to the financial investment, SCOA and Sintavia will continue to identify opportunities to apply Sintavia's AM and design capabilities toward Sumitomo Corporation Group's global industrial activities.
"We truly value SCOA as a long-term partner for Sintavia and are excited to expand our existing relationship. With this investment, we are further aligning ourselves with a global thought leader in AM that is committed to supporting our continued growth," said Brian R. Neff, Sintavia's CEO and Managing Partner of Neff Capital Management LLC, Sintavia's majority owner.
"Since our initial investment in 2018, we have been impressed by Sintavia's leadership and growth in such a short time," said Kevin Hyuga, SVP and General Manager of SCOA's Construction and Transportation Systems Group. "We see continued synergies in the future through this partnership, and look forward to continuing to help Sintavia support the aerospace and space industry. Moreover, Sintavia is well aligned with our company's sustainability goals. Through its technology, Sintavia is capable of reducing waste in the AM production process, allowing end-stage products to fly lighter, ultimately reducing greenhouse gases and helping to create a more sustainable society."
For more information contact:
Sumitomo Corporation of Americas
300 Madison Ave.
New York, NY 10017
212-207-0700
www.sumitomocorp.com
Sintavia
2500 SW 39th St.
Hollywood, FL 33312
954-474-7800
www.sintavia.com