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French Engineering firm Groupe Gorge, who launched their new 3D printing division at Euromold 2013 last month, announced projections for their 3D printing revenues today. The company's shares will also begin trading as a level 1 sponsored ADR through the Bank of New York Mellon under ticker GGRGY as of today.
In two years, Groupe Gorge is targeting to "attain and then exceed" €5 million in monthly revenues from 3D printing, or 81.7M $US annually. This is approximately equal to the trailing twelve months of all revenue from both voxeljet (VJET) and Arcam AB (AMAVF)...combined. Time will tell if this aggressive target is achieved, but I believe it's well within the realm of possibility due to the proprietary technology of their Prodways lineup of industrial 3D printers. According to CEO Raphael Gorge in a previous interview, the Prodways machines have the following competitive advantages:
Due to U.S. investor demand for shares, the stock will now trade as a Bank of New York Mellon sponsored level 1 ADR under ticker GGRGY. The company will also release financials in English going forward. I believe analyst coverage of Groupe Gorge will soon follow.
In other positive news, just yesterday Groupe Gorge announced a major international order for land-based defence driving simulators. and the order "considered as a significant amount, will be booked over several financial years". This additional revenue will from Groupe Gorge flight and driving simulator subsidiary, ECA Faros.
