TORONTO, Sept. 18 /CNW/ - Cymat Technologies Ltd. announced today that
its manufacturing partner, Georg Fischer Automotive, a leading global
automotive parts supplier, has received its first prototype order utilizing
Cymat's proprietary aluminum foam technology (SAF).
A German-based producer of high performance automobiles is interested in
utilizing SAF in a chassis component to enhance performance by reducing
vibration and harshness as well as improving its stiffness. The prototype
parts, which will be produced by Georg Fischer in Switzerland with Cymat's
assistance, will be delivered by the end of Q3.
This part represents the first prototype order contemplated by our
long-term auto licensing agreement with Georg Fischer announced in November,
2006. Cymat will begin to receive royalty payments for this part.
"I am very pleased with the achievement of this important milestone in
Cymat's automotive initiative," said Michael Liik, Cymat's Executive Chairman.
"This first prototype order is the result of several years of development work
and collaboration with our manufacturing partner Georg Fischer," he added.
"This first prototype order is a key validation of Cymat's SAF
technology," said Leopold Kniewallner, Director of Research and Development of
Georg Fischer. He went on to say "We believe that this order and others will
be a catalyst for commercialization of SAF and lead to accelerating acceptance
of the technology among automakers."
The Company also reported that its partners Georg Fischer and Valeo are
both profiling new applications for Cymat's SAF at the prestigious Frankfurt
Auto Show (IAA). This is the first time that either partner has presented SAF
in specific commercially-ready applications in such a large and prestigious
forum. Both companies have thus far received significant customer interest in
About Georg Fischer:
GF Automotive, the automotive division of Georg Fischer AG, is an
internationally oriented corporate group with thirteen production plants in
four countries (Germany, Austria, China and Canada). Its activities focus on
the development and production of highly stress-resistant die-castings for the
automotive industry and its suppliers. GF Automotive is a technological
pioneer and market leader within its segment in Europe for all casting
processes (sand casting, gravity die casting, pressure die casting) and
materials (iron, aluminum, magnesium) relating to series production. GF
Automotive is one of the hundred largest automotive suppliers internationally.
The corporate group has 5,778 employees worldwide and achieved a turnover of
1.93 billion Swiss francs (around 1.2 billion euros) in 2006.
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 new strategic material with a wide array of benefits, including a
good stiffness-to-weight ratio, mechanical energy absorption at low stress
levels, thermal and acoustic insulation, recyclability and relatively low cost
of production. Cymat is collaborating with a number of partners spanning the
automotive, transportation, blast mitigation and architectural industries.
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
For further information:
For further information: Investors and Media: Mr. Chris Skillen, Chief
Executive Officer, Cymat Technologies Ltd., Tel: (905) 696-2421, Email:
email@example.com; Mr. Michael Liik, Executive Chairman, Cymat Technologies
Ltd., Tel: (416) 704-6217, Email: firstname.lastname@example.org