PyroGenesis, a Montreal-based developer and manufacturer of advanced plasma atomisation processes, spins off 80% of its 3D printing business into an independent publicly-traded company.
The new company, currently referred to as 3DCo, will have all rights to produce metal and alloy powders for the additive manufacturing industry using PyroGenesis patented technology. It will also distribute powder production systems and equipment under a world-wide license.
“Spinning off 3DCo will help attract an investor base best suited to the company’s unique value proposition, particular business operations and financial characteristics, thereby maximizing shareholder value and placing it in a better position to ramp up, generate revenues, and develop strategic relationships/partners than had it remained part of PyroGenesis” said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “As such, 3DCo will be able to sharpen its strategic focus and provide flexibility to capitalize on the unique growth opportunities within its market sector. At the same time, it will provide PyroGenesis with a source of repeat business and recurring revenues as well as an investment position in a vibrant public company.”
The transaction will take place over the next four month.
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