Groupe Gorgé, through its subsidiary Prodways Group, specialist in digital design and manufacturing, announced that it has won a major industrial project with several orders for 3D printers and associated materials from a world leader in the distribution of medical and dental products.
This major industrial project, for Prodways Group, for machines and materials that will be used to produce close to a million orthodontic aligners per year. The customer, an international group based in the United States, is one of the world leaders in the distribution of medical and dental products, with several billion dollar revenues in this field.
This industrial project includes different production sites which generated an order intake of 8 machines this year. 4 of them will have been delivered by December 31, 2021, while the next four will be delivered in the first quarter of 2022 . The printers involved are MOVINGLight® LD20s, the most productive model in the Prodways range. Suitable for the mass production of transparent orthodontic aligners, it can produce about 50 dental models per hour.
These printers will use PLASTCure Absolute Aligner liquid resin, a new high-performance material developed by Prodways teams in 2021 and dedicated to this application. The 8 machines ordered at this stage could consume up to 12 tons of resin per year in production rate, making this new customer one of the most important material consumers.
This major commercial success includes further development phases that could lead to a total installed base of 20 machines within 18 months, making this the largest project ever won by Prodways. Once in operation, these machines would consume up to 30 tons of resin per year. Overall, this industrial project represents several million dollars in foreseeable revenues over the next few years thanks to the strong recurrence of material sales associated with printer sales.
This major success reinforces Prodways Group's position as a leading player in 3D printing for orthodontics. This application digitizes traditional tooth realignment treatments while opening up new mass markets for smile aesthetics. Thanks to its distinctive MOVINGLight® technology and its expertise in the certification of medical materials, Prodways Group's market share in this segment is growing strongly.
More broadly, the Group can draw on its strengths to benefit from the fundamental trend towards digitalization of medical activities, which is set to accelerate in the coming years.
Distribution in kind of Prodways Group shares
In a press release dated November 8, 2021, Groupe Gorgé announced that it would be convening a Combined General Meeting of shareholders on December 14, 2021 to decide on an exceptional distribution in kind in the form of Prodways Group shares at a rate of 3 Prodways Group shares listed on Euronext in Paris for every 2 Groupe Gorgé shares held.
This distribution in kind of Prodways Group shares would be paid on December 22, 2021. Following this transaction, Groupe Gorgé is expected to retain approximately 5.9% of the capital.
The terms and conditions of the distribution in kind, its impact on consolidated shareholders' equity and the tax treatment of the distribution are described in the Board's report to the Meeting, which is available at the following address: www.groupe-gorge.com ; heading Finance / General Meeting.
The draft resolutions to be submitted to the General Meeting of December 14, 2021 are also available on the company's website (www.groupe-gorge.com ; section Finance / General Meeting.
About Groupe Gorgé
Groupe Gorgé is a high-tech industrial group driven by a strong entrepreneurial culture. The Group is present in 3D printing, drones, engineering and protection systems and employs nearly 1,850 people. The Group generated revenue of €231 million in 2020.
More information on www.groupe-gorge.com
Groupe Gorgé is listed on Euronext Paris Compartment B (GOE).
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