PyroGenesis Canada Inc, a high-tech company, that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, has recently announced that the Board of Directors has approved the implementation of the necessary steps to spin-off PyroGenesis Additive, a division specializing in developing, commercializing and advancing plasma atomized metal powder for the additive manufacturing industry.
The terms of the spin-off are not yet agreed to and will be disclosed once they have been confirmed and approved by the Board. Furthermore, it is expected that the spin-off will not represent more than 50% of the assets of the Company.
The reason to spin-off PyroGenesis Additive is primarily to attract an investor base best suited to their unique value proposition, particular business operations, and financial characteristics, thereby maximizing shareholders’ value and placing it in a better position to generate revenues and develop strategic relationships than had it remained part of the PyroGenesis stable of technologies. A spin-off creates simplicity which in and of itself increases interest, all to the benefit of shareholders.