Polish 3D printer manufacturer Zortrax has once again reported falling sales and losses for the third quarter of 2023.
To remedy the financial imbalance, Zortrax has decided to increase its capital and is taking investor Artur Błasik on board. Błasik is to subscribe to shares and grant the company a loan of 4 million złoty.
According to Zortrax CEO Mariusz Babula, the money is intended to boost production and process outstanding orders. Demand for 3D printers and materials remains high. However, due to supply bottlenecks, the company has recently been unable to deliver new devices, which has put a strain on liquidity.
With the new investor, Zortrax wants to ramp up production again and acquire new major orders. The long-term plan is to push ahead with expansion and aim for a listing on the Warsaw Stock Exchange. Zortrax hopes to avert the threat of insolvency with the capital injection.