TORONTO, Jan. 31, 2012 /CNW/ - Cymat Technologies Limited, a materials
technology company focused on the military, automotive and
architectural industries, today announced the appointment of two new
agents who will represent the SmartMetalTM line of lightweight blast mitigation products.
Cymat has been working on expanding its SmartMetalTM sales, with a focus on introducing our products to new customers in
military and blast protection markets around the world. An important
part of this initiative has been to develop more effective structures
for customer communication, product awareness, clarity for local
program opportunities and customer needs, together with recognition of
local market dynamics. Our AlusionTM agent network driving sales for Architectural applications continues to
grow, to generate increased revenues, and provide local market
awareness for the architecture and design markets. We believe that
this agent structure will enable us to more effectively expand our
reach beyond the US military.
We are pleased to announce that Cymat has engaged Precision Technologies
Ltd to act as our exclusive agent for Singapore. Precision
Technologies Ltd has been in business since 1975, and has grown to an
established medium-sized marketing and engineering support company with
a prime focus on military and electronics applications. There are
important opportunities in the Singapore market and SmartMetalTM has been successfully validated and will now move to prototyping.
David Fowler, President of Cymat commented that, "We are pleased to
see our SmartMetalTM material utility validated and confident that adding Precision
Technology to represent us will facilitate continuing development
leading to commercial success. "
We are also pleased to announce that Maher Limited from England has also
agreed to act to as our exclusive agent in the UK. Founded in 1932,
this privately owned company has diversified into supplying specialist
alloys for the defence, power generation, motor sport and medical
industries. They have well established military connections and have
been looking to add innovative products to complement their existing
military portfolio. "We are excited to be working closely with Maher,
and are pleased with the new opportunities that have already been
generated through our relationship." said David Fowler.
Cymat will continue to look for effective SmartMetalTM agents in different regions, to help drive product sales in this
Cymat develops innovative materials for industry. The company has
worldwide rights, through patents and licenses, for producing
Stabilized Aluminum Foam. The ultra-light metallic foam is manufactured
by bubbling gas through molten alloyed aluminum containing a dispersion
of fine ceramic particles and can be produced as either Near-net Shapes
or Flat Panels. The result is a revolutionary material with a wide
array of features including very low density, mechanical energy
absorption, thermal and acoustic insulation, is recyclable, time and
temperature insensitive and has a relatively low cost of production.
Cymat is collaborating with a number of partners spanning the
automotive, architectural and blast mitigation industries. For further
information, visit the Web site www.cymat.com.
The foregoing press release contains forward-looking statements relating
to the development of markets, development programs, future revenues
and improvements in technology, which are subject to important risks
and uncertainties. The results or events predicted in these statements
may differ materially from actual results or events. Factors which
could cause results or events to differ from current expectations
include the availability of funding, existing and future relationships
with suppliers and manufacturers, the results of research and
development activities, risks of technological breakthroughs that make
Cymat stabilized aluminum foam less attractive, risks relating to the
breadth, scope and enforceability of intellectual property rights,
general industry and market conditions, availability of qualified
personnel, and reliance on co- development partners.
For additional information with respect to these and other factors, see
the reports filed by Cymat Technologies Ltd. with the Ontario
Securities Commission. Cymat Technologies Ltd. disclaims any intention
or obligation to update or revise any forward-looking statements.
SOURCE Cymat Technologies Ltd.
For further information:
Investors and Media:
Cymat Technologies Ltd.
Tel: (416) 307- 4015