Cymat Ships New Proprietary-Alloy Foam Panels to Alucoil for Final Production Trials
Listing: TSX-V
Symbol: CYM
TORONTO, March 27, 2020 /CNW/ - Cymat Technologies Ltd. (the "Company" or "Cymat") is pleased to announce the successful completion of its new proprietary-alloy foam panel production runs. These panels have now been shipped to Alucoil, Cymat's Spanish joint venture partner, for the commencement of new brazed sandwich panel product trials.
With the assistance of experts from Cymat's raw material supplier Rio Tinto Alcan, Cymat was able to produce foam panels of a complex new raw material that is specifically designed to withstand the rigours of commercial-scale brazing. These new panels should expedite the completion of product trials at Alucoil.
Upon the successful completion of these trials, the JV will begin initial production runs and the panels produced will, in turn, be shipped to select Alucoil clients for testing and certification.
Michael Liik, Cymat's CEO, stated, "Our most recent alloy modifications represent an evolutionary leap over previous iterations sent to Alucoil for product trials. This could only have been achieved through the high degree of co-operation between Cymat's new European-based CTO and globally-sourced experts at Rio Tinto Alcan." He further commented, "Cymat stands in solidarity with Alucoil as we manage operations while simultaneously safeguarding the health and welfare of our team members in light of the challenges presented by the COVID-19 pandemic."
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.
About Alucoil:
Alucoil is a multinational company with factories on 4 continents and sales presence across 60 countries, specialized in the manufacturing of advanced materials for building, transportation and industrial applications. ALUCOIL manufactures high quality products such as larson® composite panels, larcore® honeycomb panels, anolac® corrugated aluminum sheets, and termolac® powder coating. For further information, visit the Web site www.alucoil.com.
SOURCE Cymat Technologies Ltd.
For further information: Investors and Media: Michael Liik, CEO, Cymat Technologies Ltd, 416-704-6217, [email protected]; Investor Cubed Inc.: Neil Simon, CEO, 647-258-3310, [email protected]
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