TORONTO, Feb. 8, 2012 /CNW/ - Cymat Technologies Limited ("Cymat"), a materials technology company focused on the military, automotive and architectural industries, today provided an update of material validation and progress for its military products.
Cymat has been introducing its military products (trademarked SmartMetalTM) to a number of new military customers in Europe, Asia, and South Africa. We are pleased to report on some customer testing results which continue to validate SmartMetalTM utility against customer test criteria.
In France, we have been working with a renowned global supplier of advanced composite materials with a focus on ballistics that has been testing SmartMetalTM as part of a composite structure integrating ceramic strike plates with aluminum foam backing. The testing results and feedback from the Director of Strategic Markets was very positive, "…we have finished the T1 (material validation gate) tests sequence on two different threats and the results are good. The two vehicle manufacturers are pleased with the results… We will be moving to T2 (second gate in development process) in March for both vehicles."
A second French customer, an internationally based manufacturer of armour for land systems has been testing three different density levels of SmartMetalTM. While the final report is not complete, the Director of Purchasing has communicated, "initial results indicate that testing of the Cymat material confirms both the energy absorption levels, and the time dislocation of peak acceleration", and "once the final report is confirmed the material will pass through to prototype inclusion".
In Switzerland we have been working with a multi-national energy management company, where our product is being tested as part of composite structures for vehicle protection, aimed at passing STANAG 4569 Level 4 criteria. (STANAG 4569 is a NATO Standardized measurement for the protection of occupants of logistic and light armored vehicles, with level 5 detailing the highest level of protection). They have tested a number of different products and the Director of New Business has reported, "We seem to be having some good results with our latest experiments with your products. We will have some more shooting tests at the Test Center with a composite structure and will advise once we are able to get a certificate with a focus on STANAG 4569 testing."
In Asia, we have been working with the land systems and specialty vehicles group of one of Asia's leading defence and specialty vehicles companies. SmartMetalTM has undergone two different rounds of testing and according to the Senior Buyer "We have just tested the second material around 5 weeks ago and the results are quite positive." As a result Cymat has provided formal quotes for material supply for a two year vehicle program.
In South Africa we have been working with the armour division of a company which has a broad range of industrial products. The armour division specializes in armour ceramics for use in body, vehicle, and industrial protection. SmartMetalTM is on a second round of testing, and is being considered as energy absorbing backing for ballistic armour. The Director of Technology stated "the first round of testing indicated positive outcome, resulting in inclusion at next round of testing".
Cymat material continues to be tested and incorporated into future designs, with other armouring, military and blast companies around the world. David Fowler, Cymat's President and COO commented "We are very encouraged by customer testing and feedback on our material performance, and excited to have a number of new opportunities developing in our blast pipeline. We believe that these encouraging results, coupled with increased sales follow-up as we continue to add military agents, should convert into significant new sales opportunities in the 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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