GROUPE GORGE : Groupe Gorgé announces the business strategy of its subsidiary Prodways and gives an outlook for 3D printing


Since the acquisition of PRODWAYS (formerly Phidias Technologies) in May 2013, a number of significant developments have been made. The range of 3D printing machines has been broadened, the development of proprietary resins has expanded and Prodways is expected to relocate to the Group's main site - currently undergoing renovation - in February. The site, situated in Les Mureaux, France, has 26,900 sq. ft. of office space and 107,600 sq. ft of workshops operated by the Group's four branches, some of whom have already contributed resources to the 3D printing business.

Over and above the development of new machines and new technologies, the Group's strategy is aimed at giving priority to a wider portfolio of materials proposed to customers. Access to new materials that allow new applications is doubtless one of the keys to growth for the 3D printing industry. In addition, the Group has not ruled out the option of investing directly in companies or application blueprints that would benefit from the significant advantages offered by Prodways technology (speed, yield, precision, premium materials).

The warm welcome received by our technology at the Euromold trade fair, the world's number one venue for 3D printing, and the many signs of interest from customers, are reassuring signs for the Group's ambitions in this business sector. Our objective is very quick growth in revenue from 3D printing, consisting primarily of machine sales and recurring sales of resins. The Group's objective is to attain and then exceed monthly revenues of ¤5 million during the year 2016 in a market as dynamic as the results from current studies have indicated and forecast.

Difficulties and risks involved with any industrial activity that is experiencing rapid growth, particularly: the Company's capacity to defend, maintain and grow intellectual property, its capacity to establish a direct or indirect world sales network accompanied by the human resources needed to install and maintain machines, and its capacity to set up an industrial organisation for machine production. On several occasions and in a variety of sectors, the Group and its 1,300 employees have already faced this type of challenge.

The forward-looking statements and targets of turnover growth contained herein are based on the Management's current strategy and assumptions concerning the development of sales of 3D printers and related materials in a growing market. Such statements and targets depend on known and unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ materially from those anticipated herein. All these risks and uncertainties could affect the Group's future ability to achieve its targets.

Risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements and targets include, among other things: the risks and uncertainties mentioned in the press release; the strength of competition; the continuing growth of the 3D printing market; the research for the diversification of materials for 3D printers; risks relating to the use of chemical products; currency fluctuations; interest rate fluctuations; raw materials and freight price fluctuations; armed conflicts or political instability; control of costs and expenses; changes in tax legislation, rules, regulation or enforcement; intensified price pressure by our competitors; our ability to successfully keep pace with technology changes; our ability to attract and retain qualified personnel and key-men; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; 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 (reference document including the annual financial report filed with the French Autorité des Marchés Financiers). This list of risks, uncertainties and other factors is not limitative. Other non-anticipated, unknown or unforeseeable factors could also have material adverse effect on our targets.

The Group expressly disclaims any obligation or undertaking to update or revise any forward-looking statements or targets contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based.

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