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16 Nov 17. GE Additive announced today that it has acquired GeonX, a privately-owned developer of simulation software. Terms of the deal are not being disclosed. Headquartered in Belgium, GeonX provides software for engineers when developing new products, to simulate additive manufacturing, welding, machining and heat treatment processes in various industries such as aerospace, automotive and energy.
GeonX’s simulation software tool, Virfac® (short for Virtual Factory), assesses products prior to production; predicting defects, distortions and stresses and the impact manufacturing has on a product’s durability. This helps to reduce the number of prototypes built during the development phase, while improving the quality and lifetime of the manufactured products. This can minimize the time to market and development costs.
Mohammad Ehteshami, Vice President and General Manager, GE Additive said, “As a business, GE Additive is committed to accelerating the additive manufacturing industry. Innovative simulation software solutions like Virfac do just that by adding real value to our customers who want to speed up product design and development, while maintaining the best possible quality. We’re delighted to welcome GeonX to the GE Additive family.”
Laurent D’Alvise and Michel Delanaye, co-founders and CEOs, GeonX said, “GE Additive is the innovator in the additive manufacturing sector and we’re thrilled to join the team. Software is of course integral to digital transformation, so we are equally excited to be part of GE’s Digital Industrial journey.”
For many years, GE has been a leading end user and innovator in the additive manufacturing space. In addition to the $1.4bn investment in Concept Laser and Arcam, GE has also invested approximately $1.5bn in manufacturing and additive technologies over the past 10 years, developed additive applications across all GE businesses, created new services applications across the company, and earned hundreds of patents in material science. In 2016, the company established GE Additive to become a leading supplier of additive technology, materials and services for industries and businesses worldwide.
About GeonX
GeonX is a high-tech company specializing in virtual manufacturing. GeonX develops and provides its customers best in class scientific and industrial software for the simulation of welding, heat treatment, machining and Additive Manufacturing. Simulating before making is the motto of GeonX. Founded in 2012, GeonX has 12 people and is headquartered in Belgium. www.geonx.com(Source: BUSINESS WIRE)
15 Nov 17. QinetiQ Interim results for the half year ended 30 September 2017.
• Order intake broadly in line with prior period which included £109m 11-year, NCSISS contract
• 8% revenue growth; 3% on an organic basis
• Underlying operating profit benefited from around £6.5m of non-recurring trading items
• Cash flow reflects increased strategic capital expenditure and working capital movements
• 5% increase in interim dividend
Strategic progress
• Delivered a ballistic missile defence exercise for 8 NATO nations led by the US Navy
• Record orders in Australia including first contract to manage mine warfare facilities
• Announced a joint venture in UAE building on QinetiQ Target Systems acquisition
• 26% of revenue generated from outside the UK, up from 21% in the prior period
Focus on delivery of FY18
• Strategy implementation is key to driving growth in a rapidly changing trading environment
• 89% of FY18 revenues under contract
• Overall we are maintaining expectations for Group performance in FY18
Steve Wadey, Group Chief Executive Officer said, “We have delivered a solid operational performance in the first half of