GROUPE GORGE : Prodways extends its market coverage to include Turkey and Israel and announces its first sale of 3D printing machines through a distributor

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Just a few months after its launch in Asia, Prodways, a subsidiary of Groupe Gorgé, is further extending its market coverage to include Turkey and Israel, having signed two distribution agreements with Hortal 3D and Btech Innovation.

The signature of these two new agreements will enable Prodways to promote and market the full range of its 3D printing solutions in Turkey and in Israel, and underpins its wish to become a key player in the 3D printing sector, throughout the entire value chain, incorporating the development of cutting edge technology, the supply of high quality materials and the provision of engineering and manufacturing services for parts production.

"We are very pleased with this collaboration between Hortal 3D and Prodways in Israel. There is very strong demand from our customers to have a single service provider who can address all the issues involved in additive manufacturing", reports Danny Kaplan, a Board member of Hortal 3D.

Kuntay Aktaş, CEO and co-founder of Btech Innovation, states: "BTech Innovation is delighted to have teamed up with Prodways, a growing force in 3D printing that is able to offer cutting edge technology aligned with a full range of manufacturing solutions. We are convinced that the solutions on offer will enable us to become a front runner in markets where we currently operate, particularly in the medical field. Our customers require high quality services based on state of the art technology and proven expertise in 3D Printing.".

Hortal 3D in Israel and BTech Innovation in Turkey are highly regarded partners who will assist the growth of Prodways in these regions and will support its strategic objective to become the third largest global player offering multi-technological solutions and a full range of 3D printing services to its customers.

The distribution network will gradually become operational. As such, the Group announces today the first sale of 3D machines fully effected by one of its distributors. This sale of 3D printing machines (1 ProMaker L7000 and 1 ProMaker V6000) performed by its Polish distributor, for approximately €700,000, underscores Prodways' ambitious growth strategy based on building a global network of trusted partners who are experts in additive manufacturing in their respective markets.

Disclaimer

This press release could contain statements on past events and forward-looking statements including statements regarding future goals or targets. Forward-looking statements reflect current expectations for results and future events.

Such forward-looking 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 possibly mentioned in this press release; the strength of competition; the growth of the market; 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; 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 (Registration 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 potentially 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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