Nano Dimension Ltd. has to cut its workforce by 20% while also seeking “strategic alternatives.” However, it will also launch a 3D printer with “substantial performance improvements”.
Nano Dimension, the Israel-based electronics 3D printer manufacturer, has announced that its first half of 2019 saw poor financial results and it will cut its workforce by 20% to help reduce “its operating expenses”.
Last year Nano Dimension reported a loss of $16 million. Now, the company’s shares on the Tel Aviv Stock Exchange have significantly dropped and the company only sold five DragonFly Pro systems in Q2. The company has appointed Stifel, the brokerage and investment banking firm, to help review “strategic alternatives”. Ness Ziona, Israel-based firm explains in filings to the Tel Aviv Stock Exchange: “There can be no assurance that the exploration of strategic alternatives will result in a transaction… The company has not set a […]