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 important segment.
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.
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