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Arcam Rises to 11-Year High After German Implant Maker Order
Arcam AB (ARCM), a Swedish a maker of manufacturing systems based on digital three-dimensional models, rose to an 11-year high in Stockholm after receiving an order from German implant manufacturer Implantcast.
The shares advanced as much as 5.5 percent to 374.5 kronor, the highest intraday price since August 2002, and were up 3.2 percent to 366.5 kronor at 12:20 p.m. local time. That boosted the company’s market value to 1.5 billion kronor ($226 million).
The company said today that Implantcast will buy its Arcam Q10 system for production of orthopedic implants, without giving any financial details. Arcam, founded in 1997 and listed three years later, has global customers mainly in the orthopedic and aerospace industries.
“Arcam has taken two steps forward with this order, with yet another manufacturer who has decided to use the EBM technology to develop and produce its implants, and on the important German market,” Chief Executive Officer Magnus Rene said in the statement.
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