Arcam Gains After U.S. Aerospace Business Order: Stockholm Mover
Arcam AB (ARCM), a maker of manufacturing systems based on digital three-dimensional models, rose to its highest level in almost 10 years after the company won an order from an undisclosed U.S. client.
Arcam climbed as much as 8.5 percent to 273.50 kronor, the highest intraday price since March 2003. The stock was up 5.8 percent at 266.5 kronor as of 11:05 a.m. in Stockholm, giving the company a market value of 995 million kronor ($154 million).
The company makes equipment for manufacturing parts from metal powder and is focused toward the orthopedic implant and aerospace industries. The U.S. client will use Arcam’s system to produce components in the aerospace area, the Moelndal, Sweden- based company said in a statement today.
“This deal confirms the strong interest in Additive Manufacturing within the aerospace industry,” Arcam Chief Executive Officer Magnus Rene said in the statement. “We are convinced that both interest and demand will continue to increase and we are well positioned to capitalize on this development.”
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