TORONTO, Feb. 21, 2012 /CNW/ - Cymat Technologies Ltd., a materials
technology company focused on the military, automotive and
architectural industries, today announced major new Alusion™ orders and
progress with its distributor base.
Stone Source, a recently signed Alusion™ distributor, placed its first
series of stocking orders. Stone Source is a major a New York
City-based architectural materials distributor with coverage in 16
states through distribution warehouses in New Jersey, Chicago and Los
Angeles. The subsequent formal launch of Alusion™ through an email
blast to clients resulted in record traffic volumes to their website
followed by a major influx of enquiries about Alusion™.
Freund GmbH, previously an agent of Alusion™, was recently re-signed as
a distributor and has placed a series of stocking orders. Freund GmbH
is a German architectural materials distributor that was previously
responsible for securing the Audi business for Alusion - Cymat's
largest Alusion™ order to date.
The addition of these two companies brings Alusion's™ stocking
distributor count to six covering strategic areas throughout North
America and Europe. Cymat's strategy regarding Alusion™ is to have
stocking distributor coverage in major markets worldwide together with
agency representation in minor markets. In this vein, Cymat recently
signed Geopet Aluminum to represent Alusion™ in Cypress and is in
negotiations with agents in the UK, China and Russia, as well as a
major stocking distributor for all of Latin America.
"We are excited about the potential for significant Alusion™ sales from
our new stocking distributors" said David Fowler, Cymat's President and
COO. He went on to say that "We are currently accelerating our efforts
to add agents and distributors to get broader world-wide distribution
of Alusion™ with the objective of reaching corporate profitability in
the very near future"
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