3D printing post-processing enterprise, AMT, has announced a strategic business restructuring in response to the recent global economic downturn and the slowdown in 3D printer sales. This includes a workforce reduction and consolidation of roles to maintain sustainable growth and profitability, despite the difficult climate.
AMT projects its revenue to be between £11-13 million ($14.5-17M USD) for this year, expecting to achieve profitability in Q4’23. AMT’s investors have backed the company’s direction by providing additional capital to support the transition.
CEO of AMT, Joseph Crabtree, acknowledged the current economic climate’s difficulty, “These are challenging times for our industry, and we’ve had to make some tough decisions. One of the most difficult has been reducing our workforce. We are deeply sorry to have to let go of so many dedicated team members. We greatly appreciate their contributions and are committed to supporting them through this transition.”
Despite challenges, AMT continues to innovate with the rollout of PostPro Pure, the “greenest consumable” for processing 3D printed parts, and its Digital Manufacturing System (DMS) launch. The company has also revised its engagement strategy by opting out of exhibiting at in-person trade shows to focus on existing clients and supporting partners at shows.
AMT assures its commitment to high-level customer support during this transition period. The company is optimistic about emerging stronger from this restructuring and continues to innovate post-processing solutions in the 3D printing industry.
“Innovation remains at the heart of what we do. With these new product launches, we are adapting to the changing market demands and ensuring we deliver advanced, sustainable solutions to our customers,” said Crabtree.
Customer service remains an integral part of AMT’s business strategy. Director of Commercial Operations Gavin Minton states, “Our core team remains in place, and we are committed to providing the same level of exceptional customer support during this period of transition. We will continue to serve our customers with the level of service they have come to expect from us.”
In a statement, AMT wrote that it appreciates the patience of its clients, employees, and other stakeholders during this transition. The company anticipates gaining strength and continuing to offer innovative post-processing solutions to its clients in the 3D printing industry.
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Featured image shows AMT’s PostPro SF100 system’s user interface. Photo via AMT.