Groupe Gorgé Announces Two Major Acquisitions to Establish Itself as a Leading Player in 3D Printing
26 March 2015 - 10:00PM
Business Wire
Groupe Gorgé announces the acquisition of INITIAL, the leading
independent French manufacturer of parts through 3D printing, and
of NORGE Systems, an English start-up specialised in the design of
selective laser sintering (SLS) 3D printers.
These two acquisitions mark a significant step forward in the
strategy implemented by Groupe Gorgé since entering the 3D printing
market two years ago. The group intends to rapidly establish itself
as a leader and to become the third-largest player in the world to
offer a range of multi-technological services and all 3D printing
services to its customers.
Groupe Gorgé has already completed several major milestones
since acquiring Prodways Group in 2013. The achievements of this
company's teams, headed by Philippe Laude and whose business
activity increased fifty-fold in little over a year, gave global
visibility to MOVINGLight technology®, which offers much greater
precision and productivity in terms of 3D printing.
Thanks to these two strategic acquisitions, Groupe Gorgé's
strategy - backed by Prodways Group - will be rolled out
horizontally through the addition of new 3D printing technologies,
and vertically through the development or acquisition of entities
manufacturing parts through 3D printing. Such entities may offer
general services or be specialised in applications.
Raphael Gorgé, Chairman and CEO of Groupe Gorgé, made the
following statement: "The operational, technical and business
success of Prodways' teams have helped our Group to gain greater
perspective of a market with huge potential. We aim to rapidly
establish ourselves as a leading global player capable of providing
3D printing solutions covering all available technologies, from
polymer printing to metal printing. The acquisitions of INITIAL and
NORGE Systems represent a major step forward in our development and
we are proud to welcome their teams - renowned in the 3D printing
industry for their exceptional expertise - within our group.”
Acquisition of INITIAL
INITIAL is the leading independent French manufacturer of parts
through 3D printing. The company possesses all the technologies
(resins, plastic and metal), in addition to a design office and a
3D digitization service enabling the design or redesign of parts
for all business sectors. Thermoplastic injection capabilities mean
the company can also produce small-quantity products.
INITIAL has a portfolio of more than 1,200 customers, employs 65
employees and achieved revenue of €8.6 million in 2014, with EBITDA
of more than 20%. It works in various sectors, such as the
aerospace, biomedical and luxury industries.
The joining of forces marks INITIAL management's support for the
project, backed by Prodways Group, to become a global player
offering a range of multi-technological services and all 3D
printing services.
The acquisition will enable INITIAL to accelerate its
development with greater resources and to further expand its
ambition. In particular, it will have the opportunity to establish
itself on key long-term markets with major customers that may wish
to entrust the company with the mass production of parts. The
managing executives will remain at the head of the company to
introduce this new development phase.
Thanks to INITIAL, Prodways Group can improve its knowledge of
customer requirements and offer them a full package of services
ranging from the manufacturing of a simple prototype part to the
design of a comprehensive 3D printing studio, possibly operated by
its own teams. This alliance will also enable Prodways Group to
offer back-up solutions to its customers, which are essential in an
industrial environment.
Integration of NORGE Systems' expertise
NORGE Systems is an English start-up whose founders developed a
range of additive manufacturing machines (3D printing) using
selective laser sintering (SLS).
The founders of NORGE Systems and the Prodways teams have been
working together at Les Mureaux for several months to optimise
these machines and to start marketing them. This acquisition marks
an important step forward in the development of Prodways Group,
which has achieved its goal of becoming the third-largest player to
offer multi-technological 3D printing services. The first SLS
machine should be operational in the first half of the year, and
marketed before the end of the year.
Group Management will provide new revenue targets for the 3D
printing business when publishing its annual results on 2 April
2015.
About Groupe Gorgé:
Established in 1990, Group Gorgé is an industrial group
operating in different areas of expertise: Smart Safety Systems,
Protection in Nuclear Environments, Industrial Projects &
Services and 3D Printing
In 2014, the Group reported revenue of €223.3 million. It is
backed by 1,370 employees and operations in over ten countries.
Groupe Gorgé is listed on NYSE Euronext Paris (ISIN: FR0000062671;
Ticker code: GOE) and on the US OTC market (ISIN: US3994511034; OTC
Pink: GGRGY / GGRGF) in the form of ADR.
More information available on www.groupe-gorge.com
Groupe GorgéNathalie Lagos, +33 1 44 77 94 77Communications
Managercontact@groupe-gorge.com
Groupe Gorge (PK) (USOTC:GGRGF)
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