(Alliance News) - SolidWorld Group Spa announced Tuesday that it has signed a binding agreement to fully acquire Due Pi Greco Srl, a company based in Resana, Treviso, specializing in product design, engineering, additive manufacturing and 3D printing of high-performance industrial components.

The price, set at EUR700,000, will be paid to the selling shareholders partly in cash and partly through the allocation of SolidWorld Group shares resulting from a reserved capital increase or, alternatively, through the transfer of treasury shares already held in the company's portfolio. The transaction is expected to be finalized by 2024.

Due Pi Greco Srl reported total preclosing revenues of EUR1.0 million and a preclosing profit of EUR20,000 in fiscal year 2023.

Roberto Rizzo, President and CEO of SolidWorld Group said, "Thanks to this transaction SolidWorld not only confirms but strengthens its leading position in the Italian additive manufacturing market. By joining forces with Due Pi Greco, a company that has been offering integrated design, modeling, prototyping and 3D printing services since 2010, SolidWorld is enriched with skills and technologies that are both complementary to and perfectly integrated with those already in use."

"Through this new agreement, the group also perfects a valuable organizational and structural strengthening. This operation is part of a process that, over the years, is increasingly establishing SolidWorld as a 'catalyst,' or pole of integration of excellence not only in the field of additive manufacturing, but also in that of biotechnology and innovative systems for the production of photovoltaic panels, with the aim of presiding over the complete supply chain. This important and yet another acquisition by the group is instrumental in achieving our larger project of creating a hub of excellence in high-performance design, engineering and additive manufacturing services."

SolidWorld Group's stock closed Monday in the red by 0.6 percent at EUR3.24 per share.

By Chiara Bruschi, Alliance News reporter

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