Forward AM Technologies GmbH, a provider of 3D printing materials and services, filed for insolvency on November 21, 2024. According to the company, this is a proactive measure to restructure the company. The insolvency process is intended to help attract new investment and create the basis for long-term success.
BASF originally founded the company as a separate division and spun it off at the beginning of the year in order to reorganize it as an independent unit. According to CEO Martin Back, Forward AM’s transition from BASF included the Sculpteo printing service, approximately 400 patents and more than 60 commercialized material products. The company also reported annual growth of 30% over the past two years. Nevertheless, financial difficulties arose less than six months after the spin-off.
The provisional insolvency administrator Tobias Wahl from Anchor Rechtsanwälte was appointed by the Local Court of Heidelberg. His task is to develop a sustainable restructuring plan together with stakeholders and employees. According to Wahl, the conditions for the company to continue as a going concern are in place and business operations will remain stable. Existing and new orders will continue to be fulfilled.
“We are confident that, together with our partners and investors, we can create the basis for a successful future,” explained CEO Back. “Our focus remains on providing innovative solutions for the success of our customers and strengthening our leading position in the field of 3D printing solutions.”
The insolvency only affects Forward AM’s German headquarters. Local subsidiaries are not affected and will continue their business activities unchanged.
Subscribe to our Newsletter
3DPresso is a weekly newsletter that links to the most exciting global stories from the 3D printing and additive manufacturing industry.
