Polish 3D Printer Maker Zortrax Hungry for Fresh Funds

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Date: Thursday March 27, 2014 11:05:42 am
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    Polish 3D Printer Maker Zortrax Hungry for Fresh Funds
    By Marcin Goettig

    (Reuters) – Polish 3D printer maker Zortrax, expanding fast after a landmark U.S. order, is pressing ahead with fundraising plans that could include a flotation and that dovetail with government ambitions to create a hi-tech economy.

    Founded as recently as December but already growing at a breakneck pace, Zortrax is on schedule to complete the order from tech giant Dell 4331.HK for 5,000 of its M200 desktop printers by year-end, Chief Executive Rafal Tomasiak told Reuters in an interview.

    That, along with a few thousand more orders from retail clients for a machine priced at $1,899, means revenues for the company, based in the northeastern city of Olsztyn, are soaring.

    Zortrax's segment of the 3D printer market has been growing by several hundred percent each year and "we are growing at an analogous pace," Tomasiak said.

    To help fund the expansion, the firm has launched a bond issue that closes on Thursday and would consider a share offer.

    "We certainly do consider listing the company," Tomasiak said on the sidelines of a design fair at the Warsaw Stock Exchange, adding he had already turned down takeover offers from two larger competitors.

    "I appreciate the confidence investors put in us and will remember that – we will reciprocate this favor if it comes to a public share offering."

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