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Nano Dimension is weighing options
Posted on Wednesday, 10 July 2019 09:06
Israel-based three dimensional (3D) printed electronics provider Nano Dimension has announced plans for a strategic review of alternatives, while also considering a 20.0 per cent reduction in its workforce in a bid to save on costs.
The company said it hired Stifel to advise on options; however, it has no timetable for conclusion and it does not intend to make any further comments.
In addition, Nano Dimension is also planning to launch a new 3D printer that will deliver substantial performance improvements and mission critical features.
Shares in the group declined 1.5 per cent to ILS 32.20 (USD 9.00) at 16:50 following the announcement today, giving the company a market capitalisation of ILS 57.46 million.
Nano Dimension provides precision 3D printed electronics that are reshaping how functional and connected products are made, creating circuitry, including sensors and antennas, that cover a range of industries from medical devices and aerospace to automotive and telecommunications.
The group also announced yesterday that Simon Fried, co-founder and former president of the group’s North America division, is stepping down from his executive role to pursue other opportunities.
In this statement, chief executive Amit Dror noted: “Nano Dimension plans to strengthen its efforts to accelerate the adoption of its products, with the sole purpose of expanding its customer use cases from prototyping to production.
“We believe that the combined actions we have taken position the company’s products and structure better for sustainable growth.”
Nano Dimension is estimating that revenue in the opening six months of 2019 was between USD 2.70 million and USD 2.90 million.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 114 deals targeting computer terminal and other peripheral equipment manufacturers announced worldwide in 2019 to date.
Electronics for Imaging, a US-based colour desktop publishing hardware manufacturer, is being picked up by Siris Capital Group’s East Private Holdings for USD 1.70 billion, in the largest of these.
© Zephus Ltd