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  GROUPE GORGE company press release from 03/01/2019

  03/01/2019 - 07:00

Prodways Group strengthens its medical activities with the acquisition of Surdifuse-L'Embout Français


Prodways Group, 3D printing subsidiary of Groupe Gorgé, today announces the finalization of the acquisition of 100% of the share capital of Surdifuse and l'Embout Français. As such, it has become the French leader in customized ear tips for hearing aids.

Born from the merger between Surdifuse and l'Embout Français laboratories in 2017, Surdifuse-L'Embout Français is a major player in the manufacturing of customized ear tips, for which 50% of the production process relies on 3D printing. With nearly 40 employees across two sites in Paris and Lyon, Surdifuse-L'Embout Français has recognized expertise. 

Customized ear tips manufacturing techniques are evolving with the acceleration of digital processing and 3D printing. This transaction forms part of the vertical integration strategy led by Prodways Group and strengthens the medical sector, which is a major growth driver in the Products division. Thanks to the merger between Surdifuse-L'Embout Français and Interson-Protac, acquired in 2017, Prodways Group ambitions to become the French leader and one of the European leaders in customized ear tips for hearing aids.

The synergies between these three historic players, under a common brand, will ultimately accelerate the launch of new 3D printed products, strengthen the service offer and customer proximity. The complementary nature of their activities will also enable the Group to achieve critical mass in the hearing protector segment for industry, and accelerate its growth in this buoyant market.

The transaction will be settled entirely in cash. In 2019, this acquisition should generate revenue of more than €3 million and make a positive contribution to the 3D Printing division's income.

Disclaimer

GROUPE GORGE press releases may contain forward-looking statements regarding GROUPE GORGE's targets. These forward-looking statements reflect GROUPE GORGE's current expectations. Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that could cause actual results, performance or events to differ materially from those anticipated herein. The risks and uncertainties that could affect the Group's future ability to achieve its targets include, in addition to those indicated in the press release: the strength of competition; the development of markets in which the Group operates and notably the 3D printing division; currency fluctuations; obtaining the export authorizations that may be required for certain activities; control of costs and expenses; changes in tax legislation, laws, regulations or their enforcement; our ability to successfully keep pace with technological advances; our ability to attract and retain qualified personnel and key staff; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; manufacturing and supply chain bottlenecks; the performance of our business partners (subcontractors, agents, suppliers, etc.). Some of these risk factors are set forth and detailed in our Document de Référence (Registration Document including the annual financial report filed with the French Autorité des Marchés Financiers), available on our website www.groupe-gorge.com. This list of risks, uncertainties and other factors is not limitative. Other unanticipated, unknown or unforeseeable factors, such as changes in the economic situation or financial markets, could also have a material adverse effect on our targets.

This press release and the information it contains do not constitute an offer to sell or to subscribe, or a solicitation to purchase or subscribe shares or securities in GROUPE GORGE or in its listed subsidiaries in any country whatsoever.

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About Groupe Gorgé

Founded in 1990, Groupe Gorgé is an independent group that specializes in high-tech industries. Today, the Group is active in the fields of security and protection in extreme environments, as well as in the 3D printing sector. In its more than twenty-five year history, Groupe Gorgé has always developed and driven the latest technological and industrial innovations.

Smart Safety Systems:

Developing complete, innovative technological solutions for complex missions in hostile and confined environments.

Protection of High-Risk Installations:

Protecting people and ensuring the active and passive protection of installations for energy markets and industrial and tertiary sectors in France. Ensuring the maintenance of these protection systems.

3D Printing:

Enabling major industry players to find new routes to successful innovation and production processes by providing 3D printers, premium material, software and 3D printed parts.

In 2017, the Group reported revenue of €276.7 million. It is backed by 2,000 employees and operations in over ten countries.

More information available on www.groupe-gorge.com

Groupe Gorgé is listed on Euronext Paris Compartment B.

ISIN code: FR0000062671

Ticker code: GOE

Contact

Groupe Gorgé - Raphaël GORGÉ – CEO & Chairman - Tel.: +33 1 44 77 94 77 - E-mail: contact@groupe-gorge.com

Finance News – Anne-Pauline PETUREAUX – Analysts/Investors Relations - Tel.: +33 1 53 67 36 72 - E-mail: apetureaux@actus.fr

Finance News – Manon CLAIRET – Press Relations - Tel.: +33 1 53 67 36 73 - E-mail: mclairet@actus.fr