Paris, January 3, 2018, 7.00 am,
Prodways Group (Euronext Paris: PWG), an expert in industrial 3D printing, 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 Group's income.
- About Prodways Group
PRODWAYS GROUP is a specialist in industrial and professional 3D printing with a unique positioning as an integrated European player. The group has developed right across the 3D printing value chain (software, machines, materials, parts & services) with a high value added technological industrial solution. PRODWAYS GROUP offers a wide range of 3D printing systems and premium composite, hybrid and powder materials (SYSTEMS division). The company also manufactures and markets parts on demand, prototypes and small production run 3D printed items in plastic and metal (PRODUCTS division). The Group targets a significant number of sectors, from aeronautics to healthcare.
In 2017, the company generated revenue of €34.8 million, including close to 40% outside of France. Building on revolutionary and proprietary technology, MOVINGLight®, PRODWAYS GROUP today has global visibility in the industrial 3D printing sector and with leading customers.
PRODWAYS GROUP is a Groupe Gorgé company.
For further information: www.prodways-group.com
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Releases from the Prodways Group may contain forward-looking declarations with statements of objectives. These forward-looking statements reflect the current expectations of the Prodways Group. Their realization, however, depends on known or unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ significantly from those previously anticipated. The risks and uncertainties that might affect the Group's future ability to achieve its targets are reiterated and presented in detail in our Basis Document available on the Prodways Group's website (www.prodways-group.com). This list of risks, uncertainties and other factors is not exhaustive. Other unanticipated, unknown or unpredictable factors may also have significant negative effects on the achievement of our objectives. The current release and the information contained therein do not constitute an offer to sell or to subscribe, nor a solicitation for an order to purchase or subscribe to shares in Prodways Group or in any subsidiaries thereof listed in whatsoever country.