Zortrax Withdraws from Negotiations with Rusatom – Additive Technologies
Zortrax S.A. decided to withdraw from further negotiations with Rusatom – Additive Technologies (RusAT), a part of ROSATOM Group, which offered an investment of up to 65 million USD in exchange for under 50% of Zortrax S.A. shares.
On March 1, 2022, Zortrax S.A. decided against signing an annex prolonging the negotiations with Rusatom – Additive Technologies which means that the investment deal under negotiations will not be signed and come into effect. Consequently, Rusatom – Additive Technologies will not become one of Zortrax S.A. shareholders.
“Russian aggression against Ukraine left us all shocked and outraged. It also rendered it absolutely clear that Zortrax’s mission cannot and will not be financed with money that made this aggression possible. For this reason, we are withdrawing from further negotiations with Rusatom – Additive Technologies which is a Russian state-owned company,” says Mariusz Babula, CEO of Zortrax S.A.
The withdrawal from the investment deal will not negatively affect Zortrax S.A. performance on the global 3D printing market, its ability to develop new products nor its overall financial standing. The latest financial results published by Zortrax S.A. reveal a significant upwards trend beginning from Q4, 2021, with a 28% increase in sales compared to Q4 2020 which gives strong reasons to expect further growth in the future.