GROUPE GORGE : Prodways details its latest business successes
While Prodways is preparing for the major end-of-year trade shows, several customers have acted on their strong interest in the technology developed by the Group.
MOVINGLight® technology, based on moving DLP and strong UVA LEDs, offers unique levels of resolution, precision, homogeneity and overall efficiency in the manufacturing of parts for various industrial applications, namely in the dental, medical, aeronautical and jewelry sectors.
For these customers, most of them experts in 3D printing technologies, the use of MOVINGLight® technology represents an important competitive advantage for current and future applications. This recognition confirms the relevance of the Group's chosen development areas: design of machines and materials targeting production applications, high productivity, stability, and process repeatability. This competitive advantage has the drawback - in most cases - of withholding the disclosure of customers' names.
Nevertheless, the Group would like to inform the market of the strong growth in its sales and business relations over recent months.
In addition to sales to distributors, a number of key accounts and leading customers in their fields have ordered or renewed orders during the first two years of Prodways' operations. In particular, we can mention:
an international group based in North America, which ordered 3 machines, used in R&D and in Production. This group is likely to renew other orders;
a European 3D printing expert, which is now equipped with 3 machines;
several “Service Bureaux” (on-demand 3D parts printing) have incorporated MOVINGLight® technology as an alternative to conventional stereolithography techniques; they include one of the three leading Service Bureaux worldwide;
four key dental companies are using one or more machines for dental model applications, orthodontic devices, R&D, etc.;
several major groups in the aeronautical sector have purchased machines, in particular for R&D applications relevant to engines, with medium-term production prospects;
several R&D institutes have purchased machines and materials to develop new applications;
chemical groups have also purchased machines to explore the possibilities of MOVINGLight® technology regarding the use of new materials in 3D printing;
lastly, the jewelry industry (for which one customer is already using our machines) also has interesting production potential.
All of these successes together confirm the potential of this new activity for Groupe Gorgé.
At the same time, Prodways is continuing its efforts across various fields of activity to provide the market with the best possible comprehensive offer: new technologies, expansion of the distribution network, strong presence in trade shows, etc. Moreover, Prodways will participate in the EuroMold trade show held in Düsseldorf from September 22 to 25, the TCT show in Birmingham on September 30 and October 1, and FormNext from November 17 to 20.
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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About Groupe Gorgé
Established in 1990, Group Gorgé is an industrial group operating in different areas of expertise:
Smart Safety Systems – Using technology to work in risk environments;
Protection in Nuclear Environments – Protecting people and securing buildings operating with radioactive materials;
Industrial Projects & Services Conducting Robotics and Fire protection systems projects for industry and service-sector player;
3D Printing – Enabling major industry players to find new routes to successful innovation and production processes by providing systems, 3D printers and new premium material.
In 2014, the Group reported revenue of €223.3 million. It is backed by 1,370 employees and operations in over ten countries.
More information available on www.groupe-gorge.com
Groupe Gorgé is listed on Euronext Paris and on the US OTC market in the form of ADR.
NYSE Euronext Paris:
ISIN code: FR0000062671
Ticker code: GOE
US OTC market:
CUSIP NUMBER: 399451 103
ISIN NUMBER: US3994511034
Ticker Code: GGRGY / GGRGF
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