The news that insolvency proceedings for Forward AM commenced during Formnext was met with mixed emotions and questions about what this means the additive manufacturing sector.
Some read the news as a sign Forward AM would leave the 3D printing industry, a scenario felt particularly harshly by customers who had built applications using the German company’s 3D materials.
An update from Forward AM now provides additional information about the move.
“We are confident that, together with our partners and investors, we can lay the groundwork for a successful future. Our focus remains on providing innovative solutions to the success of our customers and further strengthen our leading position in the field of 3D printing solutions,” said CEO Martin Back.
A press release from the company reads, “The company remains committed to fulfilling all existing and new orders, ensuring support for its customers and partners. The court promptly appointed attorney Tobias Wahl as the preliminary insolvency administrator, who has already started working. A successful process positions Forward AM to attract new investments and build a stronger foundation for long-term success.”
The press release continues, “Customers’ success remains our focus as our business continues and we are committed to fulfilling all existing and new orders to the best possible way. Important to note that Forward AM’s local entities, have not filed for insolvency and will continue business as usual, focusing on manufacturing and distribution of materials. Preliminary insolvency administrator Tobias Wahl has initiated communication with employees and business partners to assess the situation and develop a plan for the future. Wahl stated, “The conditions for the continuation of the company are in place. Business operations are stable, and we are committed to promptly working toward a long-term restructuring solution.”
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