Two months after Nano Dimension announced the shuttering its ceramic additive manufacturing product lines from Admatec and Formatec, the companies have been restarted by former Admatec director and co-founder Michiel de Bruijcker.
Both companies were acquired early on in Nano Dimension’s spree of acquisitions as it made a series of bold swings to become ‘a leader in additive manufacturing’. The companies were shut down in early May alongside deep learning brand DeepCube and micro additive manufacturing company Fabrica as Nano outlined plans to streamline its portfolio by focusing on two core product groups: Additively Manufactured Electronics (AME) and surface-mount technology (SMT).
Both companies were revived in June under new names, Admatec Additive Solutions B.V. and Formatec Advanced Products B.V., which, per a press release, the companies believe ‘preserves almost thirty years of accumulated expertise in technical ceramics – and lays a strong foundation for a stable, innovative future.’ The new companies have also gained support from two Dutch investors, both said to have extensive experience in industrial technology and sustainable companies.
Michiel de Bruijcker, who co-founded Admatec in 2012, said, "With this new foundation, Admatec Additive Solutions and Formatec Advanced Products are ready for a future in which quality, reliability and technological advantage are of absolute essence."
Formatec was founded in 1996 and is a specialist in high-quality Ceramic Injection Moulding (CIM), while Admatec developed an industrial 3D printing technology for metals and ceramics. The companies are already said to have a strong customer base in the US with users in the semiconductor industry, aerospace and medical sectors.
In a press release, the companies acknowledged that they had ‘faded into the background’ while under Nano Dimension's stewardship but said the restart marks ‘a conscious change of course’ with a long-term vision dedicated to the preservation and further development of its technologies supported by the continuity of its experienced teams, infrastructure, and technologies.
The turnaround marks yet another twist in the drawn out Nano Dimension merger and acquisitions saga. The company completed its planned acquisitions of Markforged and Desktop Metal earlier this year, the latter spurred on by a court order and was shortly followed by rumblings that Nano could be planning a divestiture of Desktop Metal while exploring 'all strategic alternatives' to address Desktop Metal's liabilities and liquidity needs. The year has seen lots of change for Nano following the departure of CEO Yoav Stern in December and appointment of Ofir Baharav in April. Earlier this month, the company announced the expansion of its Board of Directors at what Nano described as a 'pivotal moment' with the company 'shifting from M&A integration to scaling a unified technology platform' across global markets.
