Groupe Gorge SA (EU:GOE) (GGRGF)

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Prodways, Safran partner to create inorganic 3D printing materials; Prodways IPO subscription starts tomorrow

Apr 26, 2017 | By Tess

French aircraft engineering company Safran has announced a new partnership with Prodways, the 3D printing solutions subsidiary of Gorgé Group. Together, the companies will seek to develop new and innovative 3D printing materials and processes. As part of the collaboration, Safran will also acquire a stake in Prodways.

The partnership agreement signed by both companies is a non-exclusive five-year contract which allows for new, more specific contracts to supplement the main agreement. These additional contracts can cover adjacent manufacturing areas, such as casting, indirect metal part manufacturing, and composite high-temperature polymer powders. The five-year partnership can also be renewed through a joint amendment if necessary.

According to the recently signed agreement, Safran Group and Prodways will work together to develop new 3D printing materials with inorganic compounds (such as ceramics and metals) as well as assembly processes for the new materials. Safran is reportedly hoping to integrate the specially developed additive manufacturing materials into its own products.

"This agreement reflects Safran's proactive policy on additive manufacturing," commented Stéphane Cueille, Executive Vice President, R&T and Innovation at Safran. "Safran is already at the cutting edge of this field, and uses 3D printing technology to make parts and subassemblies for its engines, as well as aircraft and defense equipment. Through this agreement, the two companies will be able to pool their skills to effectively transform the technology building blocks offered by Prodways into additive manufacturing processes for Safran products."

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As mentioned, Safran has also acquired a stake in its new 3D printing partner, and the deal will see the co-head of Safran Corporate Ventures, Hélène de Cointet, join the Prodways Group Board of Directors. Looking at the stakes more specifically, Safran Corporate Ventures (in conjunction with Fimalac and BNPP) subscribed to convertible bonds prior to Prodways Group being listed on Euronext Paris, the French securities market.

The IPO listing, which will be official on May 12 2017, was announced earlier today by Prodways Group. According to the company, the indicative range for its share value is estimated at between EUR 3.8 and EUR 4.8 per share. The subscription period for Prodways’ IPO will launch tomorrow (April 27) and will run until May 10 inclusive.

Groupe Gorgé, Prodways’ parent company, also announced it is hoping to raise up to EUR 52.3 million through the IPO listing. Groupe Gorgé and its subsidiary ECA will benefit from priority orders.

In 2016, Prodways Group recorded sales of EUR 25.2 million, with 58% of the sales generated on through international markets. A leader in 3D printing solutions, Prodways has worked in various different sectors, including aerospace and healthcare, and has partnered with a number of companies around the globe including Nexteam, A. Schulman, Farsoon, and more.

http://www.3ders.org/articles/20170426-prodways-safran-partner-to-create-inorganic-3d-printing-materials;-prodways-ipo-subscription-starts-tomorrow.html