Restructuring of voxeljet UK.
Following a review of the financial performance of voxeljet UK and its current market environment management decided in October 2015 to focus voxeljet UK’s activities in the future solely on selling high-speed, large-format 3D printers and on-demand parts services to industrial and commercial customers.
As a result, the company entered into an agreement in November 2015 with an investor group that includes the founder of Propshop to sell certain assets supporting certain business lines that serve customers in the film and entertainment industry, transfer certain employees and contractual arrangements to that entity and settle the earnout and employment agreement with the managing director entered into in connection with the acquisition of voxeljet UK. The Company expects to incur a loss from the transaction and additional charges from the restructuring of voxeljet UK estimated at approximately EUR 1.5 million in the aggregate in the fourth quarter of 2015.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151112006764/en/
Contact:
voxeljet AG
Investors and Media
Anthony
Gerstein, +1-646-484-1086
Director, Investor Relations and Business
Development
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