Related companies 3D Industries Pty Ltd and 3D Group Pty Ltd have gone into voluntary administration less than a year after being registered.
The companies aimed to establish Australia’s “leading integrated multi-platform 3D printing company”. This included printers designed and manufactured in Victoria, as well as ambitions to supply 3D printers to schools.
Administrator Domenic Calabretta of Mackay Goodwin was appointed on 24 December and a first meeting of creditors was held on 7 January. The administrator is currently working with creditors on maximising their return and declined to reveal information about debts or creditors.
“Based on what we’ve seen so far it’s looking positive for creditors of both companies for a way forward,” Calabretta told CRN.
The companies are up for sale and offers closed on 27 January, he said.
Prior to the administration, 3D Group was the subject of a proposed reverse acquisition by ASX-listed company Oz Brewing.
This takeover may still go ahead, with Oz Brewing issuing a statement on 16 January detailing an agreement under which the administrator would sell shares in 3D Industries (3DI) to an entity called 333D. This is dependent on the administrator being satisfied a sale to 333D is in the best interests of creditors.
On completion of this transaction, 3DI will hold all the assets of 3D Group and 3DI which are currently used in the operation of the 3D printing business, and will have assumed all liabilities of the business not previously discharged by the administrator.
Oz Brewing said it has an agreement under which it plans to acquire all rights and title in 333D, subject to the 333D transaction going ahead.
CRN contacted 3D Group chairman John Conidi, who declined to comment at the time of writing.
Last year, Oz Brewing said revenues from the business could come from the education, architectural and healthcare sectors, from sales of printers as well as print bureau services.
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