It appears the end is near for Mcor Technologies, as we have indications they are in receivership.
The Irish company was one we’ve tracked for many years, beginning with one of our most popular stories describing their radical paper-based 3D printing technology way back in 2007. The technology involved gluing sheets together and neatly cutting off non-object material, sheet by sheet. This allowed them to produce inexpensive 3D prints made from paper, and even full color 3D prints with their most recent device.
Since then we’ve carefully followed their progress with the technology, announced with flair at CES a few years ago. Their most recent product is the Arke, an ingenious device that pre-prints full color “edges” on paper before entering the layer-cutter. This process is one of the few that could produce full color textured 3D prints.
More recently, Mcor has spent considerable time tuning the Arke’s design to enable it be manufactured as efficiently as possible. Our interview with their then-CEO, Conor MacCormack, showed the company was working with a noted contract product manufacturer, Flextronics.
In the past year the company took on a new CEO, and we were looking forward to speaking with them. But somehow that never happened.
Since then we’ve noted that Mcor no longer appeared at any trade shows we attended, save for the occasional machine in a reseller’s booth. This caused us some concern there were issues, and apparently that was indeed the case.
We recently received a notice from the company’s receiver. (A receiver is an accounting firm that takes over operations of a financially bankrupt company, usually with intentions of selling the assets or entire operation to interested buyers.)
Obviously, that’s not good.
The receiver, Deloitte in this case, explains Mcor was unable to secure further investment to pay for growth and expansion, leading to the current situation.
Deloitte intends on operating the company for a short period during which they offer for sale the intellectual property, physical assets and customer base for any who are interested.
These include the ArkePro 3D printer, an office-friendly, full color and low-cost device ready for manufacture by Flextronics, including 12 months of manufacturing materials and the associated consumables business.
I’m not sure who might be interested in purchasing all or part of this operation, but if such parties exist, they likely read this publication.
This may be an opportunity for a new management to take over the operations and immediately get into the color 3D printing business, which is still an emerging market served by only a few parties. A 3D printer manufacturer wishing to add a new product line could be a possible buyer, as well as a 3D print reseller wishing to establish their own hardware operation. We don’t know the price, but it could be at a discount over inventing such technology on your own.
Anyone interested should contact Deloitte as soon as possible, as we don’t know how long they will continue operations. Deloitte suggests interested parties should contact:
David Van Dessel
Partner, Restructuring, Deloitte
Email: [email protected]
Telephone: +353 1 417 8805
A note on Mcor’s site provides little further detail:
“By Deed of Appointment, effective 21 March 2019, David Van Dessel was appointed Receiver and Manager over the assets and undertaking of MCOR Technologies Limited on foot of the powers contained in a Debenture.”