Paris, January 21, 2016
Following the launch of its Aerospace division in late November, offering a full range of additive manufacturing products for the aerospace sector, PRODWAYS GROUP announced today the signing of a major partnership agreement with NEXTEAM GROUP.
NEXTEAM GROUP, based in Marmande (France), is a key player in the machining of complex and hard metal parts for the aerospace market, with operations in France, Poland and Romania and revenue of €130 million in 2015. As a leading supplier, the group boasts unique expertise in the design, manufacture, assembly and maintenance of both large and small precision mechanical parts in all types of metal alloys meeting the demands of the aerospace sector.
PRODWAYS GROUP has 20 years' experience in the manufacture of parts for the aerospace industry using additive manufacturing, through its INITIAL subsidiary, and has a fleet of around 10 machines covering all metal additive manufacturing technologies.
PRODWAYS GROUP and NEXTEAM GROUP thus chose to join forces to develop a mass produced on-board metal parts additive manufacturing business for the aerospace sector.
Philippe Laude, Deputy Managing Director of Prodways Group, stressed the strategic importance of this partnership, which "reflects Prodways' aim to become the leader in the design and production of mechanical aerospace parts using 3D printing. This partnership with NEXTEAM GROUP, which will provide its expertise in the areas of machining and finalization, will ensure that we can scale up our manufacturing processes to an industrial level that meets the technical requirements of the major players in the aerospace market."
For Ludovic Asquini, Chairman of NEXTEAM Group: "With this agreement, we are adding a new skill that will enable us to offer our customers an integrated range of products and robust optimization solutions, backed by a leading player in the sector, an expert in all metal additive manufacturing technologies."
This partnership will lead very soon to the creation of a joint company, called PRODWAYS-NEXTEAM.
Prodways considers the aerospace market to be a priority market, in which it is already well positioned, counting more than 10 major players in the sector among its customers.
This partnership will allow Prodways to propose an exceptional level of collaboration to its customers in order to achieve the quality and productivity standards demanded by the aerospace industry and thereby fulfill the Group's very strong ambition in this sector.
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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 mentioned in the comments of this presentation; the strength of competition; the continuing growth of the market; currency fluctuations; interest rate fluctuations; raw materials and freight price fluctuations; armed conflicts or political instability; obtaining the export authorizations that may be required for certain activities; 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, Groupe 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 1,4745 employees and operations in over ten countries.
More information available on www.groupe-gorge.com
Groupe Gorgé is listed on NYSE Euronext Paris and on the US OTC market in the form of ADRs.
isin code: FR0000062671
Ticker code: GOE
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CUSIP NUMBER: 399451 103
ISIN NUMBER: US3994511034
Ticker Code: GGRGY/ GGRGF
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