Group Gorge Launches IPO for 3D Printer Manufacturer Prodways
Groupe Gorge, a Paris based advanced technology firm, plans to launch and IPO for its 3D printing division. The Prodways Group initial public offering is set to take place in 2017 on Euronext Paris, subject to market conditions. Since Groupe Gorge intends to remain the largest long-term shareholder, the IPO would take the form of a capital increase and is expected to raise funding for Prodways Group to accelerate its ambitious strategy of market share gains.
Prodways Group saw its revenue climb from €0.1 million in 2013 to more than €25 million in 2016, while its headcount rose from 1 to 248 in the same period. This vigorous growth was achieved by a strategy combining organic growth, sustained by substantial capital expenditure, and targeted acquisitions in the B2B 3D printing segment.
Prodways Group is the sole European company present at every stage of the 3D printing value chain (machines, materials, parts and services). It has two divisions: SYSTEMS (machines and materials, €13.1 million in 2016 revenue, with 90% in the international market), and PRODUCTS (parts on request and industry applications, €12.1 million in revenue in 2016).
Backed by its significant export market (international business accounts for 58% of total revenue) and its breakthrough MOVINGLight technology, Prodways Group enjoys global visibility in the industrial 3D printing industry and is well positioned with top-tier, industrial clients.
Prodways Group is a subsidiary of Groupe Gorgé, a company listed on Compartment B of Euronext Paris (Ticker code: GOE) and on the US OTC market, in the form of American Depositary Receipts (ADR) (Ticker code: GGRGY and GGRGF).
Established in 1990, Groupe Gorgé is an independent group operating in high technology industries. Today, the Group is active in the fields of security and protection in extreme environments, as well as in the 3D printing sector. Groupe Gorgé has grown over its 25-year history to become a major player in the technological and industrial innovations of its time.
