The majority of Magma’s creditors have accepted the financial restructuring plan proposed in the pre-bankruptcy settlement process, prompting the Settlement Council of the Financial Agency (Fina) to instruct Magma to submit a proposal for the conclusion of the pre-bankruptcy settlement to the competent commercial court.
According to data from the resolution of the Settlement Council of Fina published today, at yesterday’s hearing where the restructuring plan for Magma was voted on, creditors representing 69.33 percent of claims against Magma supported the plan, while representatives of creditors representing 30.67 percent of the total reported debts of the company were against it.
According to the main provisions of the restructuring plan presented at the hearing, Magma’s future business strategy would be based on ‘new market drivers, 3D printing technology, and a new industrial revolution.’
As explained, the development of 3D printers and related technology has reached a level comparable to mobile technology in 1990, and further development, along with a corresponding reduction in technology costs and acceleration of the production process, ‘creates conditions for a new industrial revolution that will completely change the global flows of a large part of goods and services.’
Magma estimates that in the next three years ‘3D printers from the research and development departments of multinational companies will begin to change a significant part of the supply chain of goods and services as we know it today,’ and that ‘completely new activities will emerge in the market, consequently leading to new companies and new professions that will reshape a significant part of the goods and services market.’
