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.
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