In the middle of last year, we reported that SLM Solutions – one of the largest and most distinguished producers of 3D printers for metal in the 3D printing industry, is experiencing serious financial problems and a slump in sales. In the first quarter of 2019, sales dropped by as much as 51%, with a loss of € -7.7 million, which resulted in the need to recapitalize the company for an amount of € 13 million. Changes have also taken place in the company’s top management. Now it seems that they are slowly starting to bear fruit? The German manufacturer has announced orders worth € 67.7 million, an increase of 21% compared to 2018.
Last year, the new CEO of SLM Solutions was Meddah Hadjar – former general manager of Additive Laser Products at GE Additive, and earlier at Concept Laser. As you can see, he took his place to work, because in the fourth quarter of 2019 the company accepted orders for the amount of € 29.5 million, which is a 100% increase year-on-year. Yes, Hadjar comments on the improvement of the situation in the company:
We believe that we have made the right first steps towards a long-term successful future for SLM solutions. We are continuing to work on organizational change and a shift towards long-term growth.
Meddah Hadjar – SLM Solutions
In addition, on December 1, 2019, Sam O’Leary became the new COO, and from January 1, 2020, Frank Hülsmann became the new CFO.