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Bollène, June 2, 2021, 06 :00pm (CET)
transformation to Industry 4.0 for Egide SA
New French Government grant award for Egide “ELECTRO” modernization project
Egide SA secures the financial means to realize its ambitions for transformation towards Industry 4.0
Its "ELECTRO" project was selected as part of the French stimulus plan for critical and strategic activities
Supported by the French Ministry of Economy, Finance and Recovery, this second investment project enables the Bollène facility (France) to benefit from a major new support fund to accelerate its modernization (€800K).
This will allow the Egide Group to intensify growth in diversified markets.
As part of the stimulus plan initiated in September 2020, the French Ministry of Economy, Finance and Recovery has made official the list of beneficiaries of support funds for the modernization and diversification of the electronics sector.
The Egide Group (Euronext Paris™- Compartment C - ISIN: FR0000072373), which specializes in the manufacture of hermetic packages and thermal dissipation solutions for sensitive electronic components, announces that Egide SA, and its facility based in Bollène (France), is one of the selected companies in the Provence-Alpes-Côte d'Azur region and thus benefits from an 800 K€ grant as part of the "Electronics" section of its global transformation project.
This new grant completes an earlier allocation of a first grant related to the "Aero" section of the project, for an amount of 336K€.
An ambitious investment plan
Egide SA has indeed launched an ambitious investment plan, estimated at €1.7m in production equipment and recruitment, to modernize its production infrastructure and accelerate innovation.
This plan is financed partially by the French government's stimulus plans for aeronautics and electronics industries, for which Egide has been awarded the two grants.
In addition to the grants, the investment plan will be completed by bank partners who have already confirmed support of this project.
Innovation and extension of Egide SA's production capacities
This "ELECTRO" section of Egide SA's global modernization project is focused on the high temperature cofired ceramic activities (HTCC), which includes three sub-projects.
The first sub-project is targeting digitization and progressive automation of the cofired ceramic production infrastructures. It will help to increase product performance and further reduce production costs in order to win market share in higher volume application sectors that customers are seeking to relocate supply to Europe.
The two other projects will accelerate innovation and create new technological processes to differentiate the Egide Group's HTCC ceramic product offering: improvement of miniaturization capability and increased repeatability of the process. This will afford Egide SA the ability to support telecommunication and RF customers’ development of next generation technologies. Another benefit will be the development of an additive manufacturing process (3D printing) targeting new products for heat dissipation applications.
The reinforced competitiveness of Egide SA and availability new technologies will enable the Group to accelerate its growth in diversified markets and to work on innovative, disruptive solutions.
"This remarkable support to our modernization projects is coming at the best time of our transformation journey: it is strengthening a solid base that is already leveraging all of the actions carried out over the last two years. A set of recent actions have indeed already enabled us to better serve our clients and to support Egide SA's return to breakeven since H2 2020, a trend that should continue in 2021." explains Eric Delmas, Egide Group's Deputy CEO and Director of the Bollène facility.
General Meeting: June 18, 2021
2020 H1 revenue: July 23, 2021
EGIDE – Eric Delmas – Deputy CEO - +33 6 11 30 69 07 - email@example.com
EGIDE – Luc Ardon – Finance Department - +33 4 90 30 35 94 – firstname.lastname@example.org
FIN’EXTENSO – Press Relations - Isabelle Aprile - +33 1 39 97 61 22 – email@example.com
About Egide - www.egide-group.com
Egide is a group with an international dimension, specialized in the manufacture of hermetic packages and heat dissipation solutions for sensitive electronic components. It operates in cutting edge markets with strong technology barriers to entry in all critical industry segments (Thermal Imaging, Optronics, High-Frequency, Power Units…). Egide is the only pure player in this market niche with manufacturing bases in France and the United States.
Egide is listed on Euronext Paris™- Segment C - ISIN code: FR0000072373
Reuters: EGID.PA – Bloomberg : GID