Pyro's last AM PR....

Analysis

It is interesting to hear these updates from PyroGenesis all at once. The company must have been eager to share the progress on its AM powder technology, particularly as numerous newcomers enter a space which it had begun exploring much earlier.

Given the French background of Quebec, it is not surprising that it has partnered with a French metals company for distribution. It also wouldn’t be surprising if those French-Canadian synergies continued, perhaps leading to a collaboration with AddUp, just across the border in Ohio and with a headquarters in France. Canada’s AM ecosystem has not yet caught up with those of other first world nations, so we can likely expect PyroGenesis to further cultivate, if not lead, the 3D printing sector in the country.

It would be particularly interesting for a company like Eramet to acquire PyroGenesis or even its additive division as the relationship progresses. Founded with funding from the Rothschild banking family in 1880, the company has grown to a $3.7 billion mining giant, in terms of 2017 revenues. Large metals businesses—such as Kennametal, GKN, Carpenter, Sandvik, Rusal, Höganäs, and ThyssenKrupp—have been increasing their footing in AM for some time. While ThyssenKrupp is the largest in terms of revenues, it is not producing AM powders for sale. Instead, it is working with shipping giant Wilhelmsen to 3D print marine parts. Sandvik may be the most comparable in terms of activities, given its large mining business. For a French firm to take out a slice of the metal AM powders segment, it might very well need to purchase its own division rather than develop it internally.