Even Proto Labs is restructuring and cutting costs
The Atomic Layers: S3E28 (00084)
Atomic Layer of the Day:
Proto Labs is involved in a very broad spectrum of industrial manufacturing, with additive manufacturing making up a relatively small part of its business. Nevertheless, along with Xometry, which is in a similar position, it’s often grouped with AM companies and compared to them. Since the bulk of its revenue is generated by CNC machining, injection molding, or casting, the company appears highly attractive when compared to companies like Materialise, as well as Stratasys or 3D Systems.
It makes no sense, but selected analysts do it anyway…
However, things aren’t going so well at Proto Labs either. The company has announced the closure of two European production facilities that it has owned for nearly a decade. The reason is restructuring and cost-cutting.
The facilities being closed are an injection molding facility in Eschenlohe and a metal AM site in Putzbrunn—both located in Germany, which is grappling with an economic downturn. For now, Proto Labs' only European branch will be Hubs (formerly 3D Hubs), a digital platform connecting industrial companies.
This move was not well-received by the company’s shareholders. Last week, the market value of Proto Labs dropped by $61 million, and it now stands at $672 million (approximately $280 million less than Xometry).
Atomic Layer from the Past:
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