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AURORA Inks MoU with Granges AB

Metal News - Published on Wed, 10 Jul 2019

Image Source: SteelGuru
Aurora has entered the MoU through its wholly owned subsidiary, A3D Operations Pty Ltd. The MoU provides a framework for potential future transactions between the parties in relation to the following:

Pre-order an Aurora RMP-1 Rapid Manufacturing Printer by Gränges

Supply by Gränges of its proprietary aluminium powder to Aurora

Engagement of Aurora to conduct research and development projects regarding the use of aluminium in additive manufacturing

Collaboration in market research to better understand the opportunities for the use of aluminium in additive manufacturing for the automotive and other industries.

The terms of the MoU require the parties to enter constructive negotiations with a view to entering formal agreements in relation to these matters. Whilst the MoU is binding in this regard, the terms of the proposed transactions themselves are indicative only until such formal agreements are signed.

The MoU is to operate for a term of up to five (5) years. Either party may elect to terminate the MoU for default/insolvency or otherwise on giving 180 days' notice.

Aurora's Managing Director Mr David Budge said that "This is a remarkable relationship for Aurora and we are very pleased to partner with Gränges, a forward thinking and innovative company with products extensively placed across the automotive sector. The proposed transactions, if consummated, could potentially be worth up to approximately USD 7.75 million in revenue to Aurora. Further, if Gränges purchases one of our RMP-1s, it will lead to some exciting and innovative developments in both the internal combustion engine and electric vehicle markets. Aurora is expecting to see enormous growth in additive manufacturing through the automotive sector in coming years."

Source :

Posted By : Ratan Singh on Wed, 10 Jul 2019
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