BRIEF-RPT-Pyrogenesis to spin-off Additive manufacturing unit into independent public company

Thu Apr 7, 2016 1:18am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

April 7 (Reuters) - Pyrogenesis Canada Inc

* In consideration of a non-compete agreement to be entered with 3dco, pyrogenesis will, in addition, receive royalty payments of up to 10% of powder production revenues from 3dco (removes extra letter)

* Off additive manufacturing (3d printing) into an independent public company

* Board of directors approved plan to spin-off 80% of its additive manufacturing business into independent publicly-traded co

* Name of spun off co shall be determined at later date but for purposes herein, will be referred to as "3dco"

* 3Dco is expected to be in commercial production as early as q3 2016 Source text for Eikon: Further company coverage: (Reporting By Shivam Srivastava)