CYMAT Provides Sandwich Panel Development Update
Nov 28, 2018, 08:30 ET
Listing: TSX-V
Symbol: CYM
TORONTO, Nov. 28, 2018 /CNW/ - Today, Cymat Technologies Ltd. ("Cymat") provided an update on the progress of the aluminum foam sandwich panel initiative with its Spanish collaborator, Alucoil, S. A. ("Alucoil").
Members of Cymat's senior management team have just returned from Miranda de Ebro, Spain where they witnessed the operation of Alucoil's new panel brazing facility. This facilities' manufacturing line incorporates a production-scale, state-of-the-art brazing furnace that will support a fully automated process. Final commissioning of the brazing system, an exclusive Alucoil design, is expected to be completed in early calendar 2019. At the conclusion of the trials, the brazing system will be able to produce commercial-grade sandwich panels.
The core of the sandwich panels will be a new Stabilized Aluminum Foam ("SAF") - a material recently developed by Cymat. This SAF was engineered to exhibit material properties specifically required by this proprietary brazing process. The resulting sandwich panels will be stronger and non-combustible, and are intended to meet increasing safety standards being mandated by regulators and demanded by the public.
"After witnessing the accomplishment and commitment of the Spanish engineering and commercial sales teams, I am confident that the perfection of these panels will generate a significant revenue opportunity for Cymat," said Michael Liik, Cymat's Executive Chairman. A report published earlier this year places global annual demand for aluminum composite panels at $US 6.3 Billion for 2017 and projects annual demand to grow to $US 8.8 Billion by 2022.
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 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.
SOURCE Cymat Technologies Ltd.
For further information: Investors and Media: Michael Liik, Executive Chairman, Cell: (416) 704 - 6217, Cymat Technologies Ltd., Email: [email protected]