FIT AG, specializing in innovative solutions in the field of additive manufacturing, and Caterpillar Inc. (NYSE: CAT) announced that they have entered into a strategic alliance agreement. Under the agreement, FIT AG and Caterpillar will focus on design and printing for additive manufacturing of aluminum and titanium parts.
The strategic alliance will bring together leaders in their fields to take advantage of the benefits of additive manufacturing specifically in the heavy equipment manufacturing space. Caterpillar will bring product-specific knowledge and FIT AG will bring the knowledge for additive design. This relationship will complement the ongoing work in Caterpillar’s Additive Manufacturing Factory. The strategic alliance will also strengthen FIT AG’s commitment to the industrial equipment market.
The strategic alliance between FIT AG and Caterpillar will have an initial three-year term and will evolve to the next step based on the success of the alliance.