Cymat Announces Appointment of New President and Chief Operating Officer

    
    Listing: TSX
    Symbol: CYM
    

TORONTO, Sept. 9 /CNW/ - Cymat Technologies Ltd. (TSX: CYM) today announced the appointment of David Fowler as its new President and Chief Operating Officer. He will be replacing Tim Hardman who currently holds that position.

David brings to Cymat extensive executive leadership experience with particular expertise in technical foam products with long sales cycles. In his previous position as Group Vice President of Woodbridge Foam Corporation - a privately-held, multi-national auto parts company - David was part of the company's Executive Committee and directly responsible for the company's largest division with numerous plants in 11 countries. Prior to this position, David worked for many years in both product and business development gaining extensive experience in converting technical innovations into profitable and growing businesses. David has a mechanical engineering degree from Waterloo and holds an MBA from Rotman.

"I am very excited about the opportunity to lead Cymat's commercialization efforts and to position it for significant growth" said David Fowler, Cymat's new President and COO.

"We are pleased to have attracted a person of David's experience and accomplishments to Cymat at this critical point in our development." said Michael Liik, CEO and Chairman of Cymat. He went on to say that " Having commercialized many new technical products and created successful businesses around the world, David is well equipped to deal with the challenges of driving sales and realizing the full potential of SmartMetal in Cymat's key defense and automotive verticals."

The Company would like to thank Tim Hardman for his considerable efforts and accomplishments during his tenure at Cymat. Tim will be staying on for a period of time to ensure that a seamless and effective transition is achieved - particularly with Cymat's key defense customers and partners. Thereafter, he will be available to Cymat in a consulting capacity.

About Cymat:

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 Cymat's business, the development of markets, development programs, future revenues and improvements in technology, and management's objectives, strategies, beliefs and intentions which are subject to important risks and uncertainties. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "intend" and similar words referring to future events and results, including in respect of the completion of the offering, use of proceeds and the Company's revenue growth. 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. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results may differ materially from those expressed or implied in the forward looking statements. Cymat Technologies Ltd. disclaims any intention or obligation to update or revise any forward-looking statements after the date of this press release or to revise such statements to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

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For further information: Investors and Media: Michael Liik, Executive Chairman, Cymat Technologies Ltd., Tel: [phone], Email: [email protected]