3D Systems, Japan Steel to Set Up Joint Venture

3D Systems in Sylmar said it signed an agreement with Japan Steel Works to set up a joint venture to sell 3D’s equipment, which uses lasers and ultraviolet lights to make parts models.

Under the agreement, 3D Systems said, Japan Steel would pay a fee of $1.1 million and will own 49% of the joint venture. Raymond Freed, president and chief executive of 3D, will be chairman of the joint venture.