GROUPE GORGE : Prodways Group announces the acquisition of Interson-Protac in 3D printing for medical use

Prodways Group, a Groupe Gorgé company which specializes in industrial 3D printing, announces the signature of an agreement to acquire a 75% stake in Interson-Protac, a leading French company that makes ear tips for hearing aids and customised hearing protectors.

Interson-Protac, which is based in Congénies, Gard, France, has been a major player in the field of audiology for more than 40 years. The company supplies hearing aid makers and manufacturers with ear tips for hearing aids and customised hearing protectors that are custom made based on impressions of the user's ear canal.

Remy Garrel and François Rey, the current senior executives, will retain their positions and 25% of the share capital of the company, which has 47 employees. This profitable business is expected to contribute at least €4 million to Prodways Group's revenues in 2018.

Interson-Protac currently uses 3D printing for 20% of its production, and its integration into Prodways Group will give it access to the most high-performance technologies so it can increase this proportion. Like the prostheses developed by Prodways Group in the dental and podiatry sectors, audiology is being revolutionised by 3D printing. For all these medical applications, additive manufacturing is replacing long, costly manual customisation processes while offering better precision and higher-quality prostheses.

This acquisition strengthens the medical segment, which is a major growth area in the Products division. The integration into Prodways Group will give Interson-Protac an opportunity to further migrate toward 3D printing and accelerate its expansion, particularly on the buoyant market of customised hearing protection. 

The transaction is expected to be finalised within a month.

Second acquisition transaction since initial public offering

The acquisition of Interson-Protac follows the acquisition of AvenAo Industrie, an expert in integrating 3D design and development applications. This acquisition, which was announced on 1 August (see press release), will enhance the Group's Systems division.

AvenAo Industrie turned a profit in 2016 and is projected to contribute at least €10 million to Prodways Group's revenues in 2018.

The transaction is expected to be finalised in October 2017.

Next key date:

Half-year results released on 11 September 2017



 

About Groupe Gorgé

Groupe Gorgé is an independent group that specializes in high-tech industries. Today, the Group is active in the fields of security and protection in extreme environments, as well as in the 3D printing sector. It employs around 1,700 people, is located in eight countries and directly exports around 40% of its activity. In its more than twenty-five year history, Groupe Gorgé has always developed and driven the latest technological and industrial innovations.

Smart Safety Systems: Developing complete, innovative technological solutions for complex missions in hostile and confined environments.

Protection of High-Risk Installations: Protecting people and ensuring the active and passive protection of installations for energy markets and industrial and tertiary sectors in France. Ensuring the maintenance of these protection systems.

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 2016, the Group reported revenue of €281.2 million. It is backed by 1,800 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.

Euronext Paris:

Compartment B.

ISIN code: FR0000062671

Ticker code: GOE
US OTC market:

CUSIP NUMBER: 399451 103

ISIN NUMBER: US3994511034

Ticker Code: GGRGY / GGRGF

Contact

Groupe Gorgé - Raphaël GORGÉ – CEO & Chairman - Tel.: +33 1 44 77 94 77 - E-mail: [email protected]

Finance News – Natacha MORANDI – Analysts/Investors Relations - Tel.: +33 1 53 67 36 94 - E-mail: [email protected]

Finance News – Jean-Michel MARMILLON – Press Relations - Tel.: +33 1 53 67 36 73 - E-mail: [email protected]

Disclaimer

GROUPE GORGE press releases may contain forward-looking statements regarding GROUPE GORGE's targets. These forward-looking statements reflect GROUPE GORGE's current expectations. Such forward-looking statements and targets depend on known and unknown risks, uncertainties and other factors that could cause actual results, performance or events to differ materially from those anticipated herein. The risks and uncertainties that could affect the Group's future ability to achieve its targets include, in addition to those indicated in the press release: the strength of competition; the development of markets in which the Group operates and notably the 3D printing division; currency fluctuations; obtaining the export authorizations that may be required for certain activities; control of costs and expenses; changes in tax legislation, laws,
regulations or their enforcement; our ability to successfully keep pace with technological advances; our ability to attract and retain qualified personnel and key staff; the evolution, interpretation and uniform application and enforcement of International Financial Reporting Standards (IFRS), according to which we prepare our financial statements; manufacturing and 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), available on our website www.groupe-gorge.com. This list of risks, uncertainties and other factors is not limitative.
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Source: Actusnews