Nano Dimension Ltd. (Nasdaq: NNDM, “Nano Dimension” or the
“Company”), a leading supplier of
Additively Manufactured Electronics
(“AME”) and multi-dimensional metal & ceramic
Additive Manufacturing (“AM”) 3D printers, announced today
that it has signed and closed a definitive agreement to acquire
Formatec Holding B.V (“Admatec/Formatec”), which includes its two
subsidiaries - Admatec Europe B.V. (“Admatec”) and Formatec
Technical Ceramics B.V. (“Formatec”).
Admatec/Formatec, based in the Netherlands, are
comprised of two complementary businesses operating together, which
were part of the U.S.-based Precision Surfacing Solutions. It is a
leading developer and manufacturer of additive manufacturing and 3D
printing systems for ceramic and metal end-user parts. Its
industry-grade systems - powered by digital light processing
technology - use materials with superior mechanical, electrical,
thermal, biological, and chemical properties to produce an array of
parts for medical, jewelry, industrial, and investment casting
uses. Admatec/Formatec’s industrial production service division is
a design-to-production partner for industrial-scale customers via
its service bureau platform that combines the advantages of
injection molding and additive manufacturing. Both means of
production have served as a strategic advantage in working with
customers, from early-stage ideas into serial production of end-use
parts.
Admatec/Formatec has shown promising financial
results under strenuous circumstances of its parent company,
indicating that accelerated growth based on its innovative
technology can be expected. The business delivered $5.3 million in
revenue with a gross margin of 56% in 2021. Nano Dimension has paid
a total cash sum of $12.9 million for Admatec/Formatec (net of its
cash).
By joining Nano Dimension, Nano Dimension
believes that Admatec/Formatec are now poised for even greater
success within the Industry 4.0 landscape, which Nano Dimension is
at the forefront of transforming with its combination of deep
learning-based AI, additive manufacturing, materials science, and
robotics. This expertise is planned to enable advanced
breakthroughs across the Admatec/Formatec set of solutions and
expected to drive tremendous competitive edges for customers.
Nano Dimension’s go-to-market platform is geared
to accelerate and broaden the reach of Admatec/Formatec’s products
and services to growing markets, particularly in the United States
and Europe, where a tailwind of macro trends is driving demand for
additive manufacturing (AM) while onshoring and localizing high-mix
low-volume manufacturing.
With Admatec/Formatec, Nano Dimension will add
two critical aspects to its offering in the AM domain: Materials
and new product types. Materials have and will continue to be the
bedrock of a successful AM offering. Nano Dimension is already
leading in materials science thanks to the breakthroughs in driving
additively manufactured electronics with both conductive and
dielectric materials. Now, Nano Dimension will also benefit from
ceramic and metals – two critical materials for developing
applications and end-use parts. To date, Nano Dimension has focused
on AME and Micro-AM. As the Company advances, offering new
Admatec/Formatec product types will harness the ability for
customers to print larger parts – going in size from millimeters to
multiple centimeters/inches. This is all further enhanced by
the combination of possibilities for Nano Dimension with
3D-Addititve Manufacturing integrated with Metal Injection
Molding.
Jaco Saurwalt, Chief Operating Officer of
Admatec/Formatec, who is joining Nano Dimension as the Head of its
Admatec/Formatec Division, commented, “The teams across Admatec and
Formatec are excited to become a part of Nano Dimension. We are
proud of how we have developed this business and are convinced that
we shall be able to expand and accelerate our growth based on our
present technology and services. We expect that the combined
expertise with Nano Dimension will further establish a leading
position in the high-mix-low-volume metal 3D-AM production
markets.”
Yoav Stern, Chairman and Chief Executive Officer
of Nano Dimension, shared, “Admatec/Formatec’s scientists,
engineers and other team members, all of whom joined Nano Dimension
upon closing of this transaction, are experts and industry veterans
in AM 3D-industrial processes. They are going to continue to be led
by their present management team.” Mr. Stern added,
“Admatec/Formatec’s products and services expand Nano Dimension’s
Fabrica Division, adding volume manufacturing capabilities to the
high precision micro-mechanical Fabrica 2.0 systems.”
“No less important,” Mr. Stern concluded, “is
our intention to use our deep learning-based artificial
intelligence technologies, from our DeepCube acquisition, to become
the “robotic brains” for Admatec/Formatec systems. We expect this
will improve yield and throughput and drive a more seamless
integration with Nano Dimension’s Fabrica systems.
Admatec/Formatec’s machines and services fit the larger picture of
Nano Dimension’s vision, aiming to establish “Industry 4.0”
solutions, which entail building an AI-based “distributed
digital manufacturing application” rather than just
machines as capital equipment. The end goal is to reach a
capability for maintaining digital inventory of high-end printed
mechanical parts in digital form: print them as you need them,
where you need them, only the quantity you need, in the best
quality at competitive prices, with the highest yield and
throughput possible for that point in time, specifically for high
mix/low volume scenarios.”
About Formatec Holding B.V.
Formatec Holding B.V. from Powder to Part,
consists of two companies based on shared expertise in powder-based
shaping & sintering technologies. Started more than 25 years
ago as a ceramic injection molding company, it expanded to two
companies: Formatec services customers’ ideas, from design to
serial production of Powder Metallurgical & Ceramic parts or
devices. Well equipped with shaping technologies like injection
molding, 3D printing, green & hard machining and sintering
furnaces its material, process and manufacturing experts support
clients’ product development all the way from prototype to
manufacturing and end-of-life services. Admatec is focused on
supplying 3D printing solutions for ceramics and metals. The
Admaflex 130 and 300 are modular DLP printing systems for ceramics
and metals on one platform with customer-friendly software enabling
full parameter accessibility & control and unique vision-based
process monitoring.
About Nano Dimension
Nano Dimension’s (Nasdaq: NNDM) vision is to
transform the electronics and similar additive
manufacturing sectors through the development and
delivery of an environmentally friendly and economically efficient
additive manufacturing, Industry 4.0 solution, while enabling
a one-production-step-conversion of
digital designs into functioning devices – on-demand, anytime,
anywhere.
The DragonFly®
IV system and specialized materials serve
cross-industry High-Performance-Electronic-Devices (Hi-PED®s) fabrication
needs by simultaneously depositing proprietary conductive and
dielectric substances while integrating in-situ capacitors,
antennas, coils, transformers, and electromechanical components.
The outcomes are Hi-PEDs which are
critical enablers of autonomous intelligent drones, cars,
satellites, smartphones, and in vivo medical devices. In addition,
these products enable iterative development, IP safety, fast
time-to-market, and device performance gains.
Nano Dimension also develops complementary
production equipment for Hi-PEDs and
printed circuit board (PCB) assembly (Puma,
Fox, Tarantula, Spider, etc.). The core competitive
edge for this technology is in its adaptive, highly flexible
surface-mount technology (SMT) pick-and-place equipment, materials
dispenser suitable for both high-speed dispensing and
micro-dispensing, as well as an intelligent production material
storage and logistics system.
Additionally, Nano Dimension is a leading
developer and supplier of high-performance control electronics,
software, and ink delivery system. It invents and delivers
state-of-the-art 2D and 3D printing hardware and unique operating
software. It focuses on high-value, precision-oriented
applications such as specialized direct-to-container packaging,
printed electronics functional fluids, and 3D printing, which is
all controlled by the proprietary software system
- Atlas.
Serving similar users of
Hi-PEDs, Nano Dimension’s Fabrica
2.0 micro additive manufacturing system enables the
production of microparts based on a Digital Light Processor (DLP)
engine that achieves repeatable micron levels resolution. The
Fabrica 2.0 is engineered with a patented array of sensors that
allows a closed feedback loop, using proprietary materials to
achieve very high accuracy while remaining a cost-effective mass
manufacturing solution. It is used in the areas of micron-level
resolution of medical devices, micro-optics, semiconductors,
micro-electronics, micro-electro-mechanical systems (MEMS),
microfluidics, and life sciences instruments.
For more information, please
visit www.nano-di.com.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. Because such statements deal with
future events and are based on Nano Dimension’s current
expectations, they are subject to various risks and uncertainties.
Actual results, performance or achievements of Nano Dimension could
differ materially from those described in or implied by the
statements in this press release. For example, Nano Dimension is
using forward-looking statements when it discusses the potential
benefits of, and opportunities resulting from, the acquisition of
Formatec Holding, as well as the expected growth of
Admatec/Formatec. The forward-looking statements contained or
implied in this press release are subject to other risks and
uncertainties, including those discussed under the heading “Risk
Factors” in Nano Dimension’s Annual Report on Form 20-F filed with
the Securities and Exchange Commission (“SEC”) on March 31st, 2022,
and in any subsequent filings with the SEC. Except as otherwise
required by law, Nano Dimension undertakes no obligation to
publicly release any revisions to these forward-looking statements
to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events. References and
links to websites have been provided as a convenience, and the
information contained on such websites is not incorporated by
reference into this press release. Nano Dimension is not
responsible for the contents of third-party websites.
NANO DIMENSION INVESTOR RELATIONS CONTACT
Yael Sandler, CFO
| ir@nano-di.com
NANO DIMENSION MEDIA RELATIONS CONTACT
Julien Lederman, Head of Corporate Development |
pr@nano-di.com
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