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