Safran announces technology partnership with Prodways Group, a European leader in 3D printing for industry
Paris, le 26 avril 2017
Safran and Prodways Group announced today that they are teaming up to develop additive manufacturing (3D printing) materials and processes. As part of this collaboration, Safran Corporate Ventures is taking a stake in Prodways, one of the European leaders in 3D printing for industrial and trade applications. Prodways Group offers multi-material solutions, in particular based on its MOVINGLight® technology.
A framework technology partnership agreement
The partnership agreement signed by Safran and Prodways Group concerns the development of printable materials and assembly processes for these materials with inorganic compounds, such as ceramics and metals, which can be applied to Safran's products and processes. In addition to this general contract, the companies could also sign specific contracts in areas such as casting, metallic parts made by indirect manufacturing, and high-temperature polymer powders for composites. The five-year contract is non-exclusive, and is renewable by a jointly agreed amendment.
"This agreement reflects Safran's proactive policy on additive manufacturing," noted Stéphane Cueille, Safran Executive Vice President, R&T and Innovation. "Safran is already at the cutting edge of this field, and uses 3D printing technology to make parts and subassemblies for its engines, as well as aircraft and defense equipment. Through this agreement, the two companies will be able to pool their skills to effectively transform the technology building blocks offered by Prodways into additive manufacturing processes for Safran products."
A stake in Prodways Group
Along with this agreement, Safran Corporate Ventures, in conjunction with Fimalac and BNPP, has subscribed convertible bonds prior to the stock market listing of Prodways Group on Euronext Paris, announced today. These three investors, as well as Bpifrance and Financière Arbevel, have also pledged to subscribe to Prodways' capital increase.
Prodways Group recorded sales of 25.2 million euros in 2016, with 58% of the total generated on international markets. The company works for a number of different sectors, including aerospace and healthcare, and provides an integrated package of products and services that is unrivaled in Europe (3D printing machines, composite, hybrid and powder materials, the manufacture of plastic and metal parts).
Along with this agreement, Hélène de Cointet, co-head of Safran Corporate Ventures, will join the Prodways Group Board of Directors.
Safran is a leading international high-technology group with three core businesses: Aerospace, Defence and Security (ongoing divestiture of Security business). Operating worldwide, the Group has 66,500 employees (Security included) and generated sales of 15.8 billion euros in 2016 (excluding Security). Working independently or in partnership, Safran holds world or European leadership positions in its core markets. The Group invests heavily in Research & Development to meet the requirements of changing markets, including expenditures of 1.7 billion euros in 2016 (excluding Security expenditures). Safran is listed on Euronext Paris and is part of the CAC40 index, as well as the Euro Stoxx 50 European index.