Groupe George to float Prodways 3D division

The French company Groupe George is to launch an Initial Public Offering, or IPO, for its 3D printing division, the Prodways Group. Groupe George will remain the largest long-term shareholder so this will take the form of a capital increase to raise funding for Prodways.

Prodways has developed its DLP MovingLight technology for additive manufacturing.

It’s a sensible move to capitalize on the stellar growth that Prodways has seen, funded by Groupe George. In 2013 the company reported revenues of €0.1m but by 2016 this had risen to €25m, while at the same time the number of employees has risen from 1 to 248. This growth has come about partly because of Prodways own development efforts, both in terms of 3D print machines and materials, as well as some strategic acquisitions and partnerships.

The company is split into two parts. The Systems division, which deals with machines and materials and claims. This saw revenue last year of €13.1m, which Prodways claims to be 90 percent of the international market. The Products division is responsible for parts on request and industry applications and raised some €12.1 million in revenue last year.

Prodways has quoted a report from Wohlers Associates that suggests the market for industrial 3D printing will grow 31 percent in the period from 2015 to 2021. Prodways is targeting a growth of at least 4 percentage points higher than the market until 2019, with the aim of breaking even by the end of 2017 and seeing double digit margins by 2019.




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