While covering the recent financial updates from the world’s 3D printing stocks, there was one company we neglected to include: Groupe Gorgé (EPA: GOE). Part of the omission may have been caused by the fact that the French manufacturer produces products other than 3D printers, such as smart safety systems. There should be no confusion in the future, however, as the company has decided to initiate an initial public offering for its 3D printing subsidiary, the Prodways Group.
The IPO is scheduled to occur in 2017 on Euronext Paris. Because Groupe Gorgé is the largest long-term shareholder in Prodways, this decision is meant to raise capital for the 3D printing subsidiary. In turn, Prodways will obtain further funding to help drive its strategy to take a greater share of the 3D printing market.
Prodways is recognized as the inventor of a unique digital light processing (DLP) technology known as MOVINGLight, which is capable of rapidly curing large areas of photopolymer resin. Prodways has already grown quite significantly since it was acquired by Groupe Gorgé in 2013, with its revenue increasing from €0.1 million in 2013 to over €25 million in 2016. Its machines and materials, the SYSTEMS division, accounted for €13.1 million in revenue in 2016, while parts on request and industry applications, the PRODUCTS division, made up €12.1 million in 2016.
Through internal development and acquisitions, Prodways has evolved to maintain a broad portfolio of machines, materials and services. The acquisition of Norge Systems and a partnership with Farsoon Technology has given the company selective laser sintering (SLS) in addition to its existing DLP, with Norge in particular allowing for the development of a more affordable SLS product on the market. The company’s research and development is also strong, with Prodways using its existing DLP to demonstrate a form of metal 3D printing and ultrafast, continuous DLP.
Groupe Gorgé CEO Raphael Gorgé has previously stated that he wants Prodways to become at least the third leading company in the 3D printing industry, alongside Stratasys and 3D Systems. The company has already developed quite substantially. Perhaps the upcoming IPO is all that’s left from pushing it to the top.
To learn more about Prodways, visit the company website.