Home Industry Polish 3D printer manufacturer Zortrax goes into restructuring

Polish 3D printer manufacturer Zortrax goes into restructuring

The Polish 3D printer manufacturer Zortrax has announced that it will carry out a comprehensive restructuring in order to overcome its current economic difficulties. According to the Polish stock exchange NewConnect, where the company is listed, on May 8, 2024, Zortrax’s Board of Directors entered into a contract to oversee the restructuring process with Paweł Głodek, a licensed and qualified restructuring consultant.

Zortrax was once a leader in desktop and prosumer filament extrusion 3D printers (MEX, FFF). The aim of the current announcement is to facilitate a restructuring through an agreement with certain creditors. At the same time, the rights of creditors are to be safeguarded and the interests of the company, its shareholders and contractual partners are to be protected. Through the restructuring, Zortrax plans to increase sales and maximize profits in the current legal and financial environment.

Shareholders have already suffered several setbacks in recent months. The company’s sales have been declining for a long time. These economic difficulties have forced Zortrax to take drastic measures. Zortrax’s 3D printers are currently being offered at historically low prices. In addition, the company recently sold its proprietary Z-SUITE software to the Italian company Roboze for 170,000 euros.

An attempt to save the company in November last year failed. At the time, an investment of PLN 5 million was announced by investor Artur Błasik, which was intended to help Zortrax benefit from the dynamic development of 3D printing. However, the company is currently in a fierce dispute with investors, which, according to Slusarczyk, is unlikely to have a happy ending. However, Zortrax has already entered into talks with creditors in order to reach an agreement and bring the proceedings to a swift conclusion.

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