TORONTO, Dec. 3, 2019 /CNW/ - Cymat Technologies Ltd. (the "Company" or "Cymat") is pleased to announce that the production facility for its joint venture (the "JV") with Alucoil, S.A. ("Alucoil") to manufacture a metallurgically bonded aluminum foam-based sandwich panel is now fully operational.
The new facility has experienced significant delays related to certain elements of the production line. As many aspects of the facility are custom designed for this proprietary process, scale-up from lab-scale to commercial scale equipment can often present unforeseen issues. In this case, the custom-designed furnace required significant modification to accommodate the challenges of production-scale brazing. We are pleased to report that the furnace has now been successfully retrofitted and is fully operational. In the interim, Cymat has further enhanced its ability to produce foam panels that are better able to withstand the rigours of commercial scale brazing.
New product trials are scheduled to commence early in the New Year when Cymat's modified panels are delivered to Alucoil. Upon the successful completion of these trials, the JV will begin initial production runs. Panels produced from these production runs will in turn be shipped to select Alucoil clients for testing and certification.
Michael Liik, Cymat's CEO was in Spain the week of November 18th to meet with Alucoil management to help plan these new product trials and discuss next steps. He commented "After these significant delays in modifying the production process, we are pleased to see the plant working and operational. While this has been a frustrating time for both Cymat and Alucoil, we are excited to now be moving forward expeditiously".
Alucoil currently supplies over $300 million annually in aluminum composite panels to their customers around the globe. These new metallurgically-bonded aluminum foam-based sandwich panels have been developed to supply multiple industries including transportation, construction, and elevators with a strong, lightweight and fire-resistant solution. Cymat will work closely with Alucoil to complete the testing and transition to commercial production.
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 either continuously produced in flat panels or as near-net shapes. 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 architectural, blast mitigation and automotive industries. For further information, visit the Web site www.cymat.com.
Alucoil is a multinational company with factories on 4 continents and sales presence across 60 countries, specialized in the manufacturing of advanced materials for building, transportation and industrial applications. ALUCOIL manufactures high quality products such as larson® composite panels, larcore® honeycomb panels, anolac® corrugated aluminum sheets, and termolac® powder coating. For further information, visit the Web site www.alucoil.com.
SOURCE Cymat Technologies Ltd.
For further information: Investors and Media, Michael Liik, CEO, Cymat Technologies Ltd, 416-704-6217, [email protected]; Investor Cubed Inc., Neil Simon, CEO, 647-258-3310, [email protected]