TORONTO, Jan. 28 /CNW/ - Cymat Technologies Ltd. (TSX:CYM), a public Canadian materials technology company specializing in the military, automotive and architectural industries today announced that the company has appointed Lieutenant Generals (U.S. Army Retired) Jay M. Garner and Ronald V. Hite to its newly established Advisory Board.
Generals Garner and Hite bring extensive backgrounds in both military and commercial operations to Cymat. Their unique insights and deep relationships within the American and NATO industrial/military sectors will be invaluable to Cymat as it commercializes its SmartMetal(TM) within this industry.
Both Generals' Garner and Hite have had distinguished careers within the American Military. Prior to retiring, General Jay Garner served as Commanding General of the U.S. Army Space and Strategic Defense Command (USASSDC), headquartered in Arlington, Virginia, and as Assistant Vice Chief of Staff of the Army. General Ron Hite in turn served as the Director, Army Acquisition Corps, and Military Deputy to the Assistant Secretary of the Army for Research, Development and Acquisition prior to retirement in 1997. For a more extensive description of their distinguished military careers, please refer to www.cymat.com under News and Announcements.
"Cymat is very pleased to have Jay and Ron so committed to assisting us in our commercialization of SmartMetal(TM) in global military markets" stated Tim Hardman, President of Cymat Technologies Ltd. "Their understanding of and ability to navigate through the complexities of the defense industry will be of enormous assistance to our company," added Mr. Hardman.
"The importance of this technology in providing survivability to US troops in the field and abroad is tremendous," said General Hite. "This has become even more urgent as troop fatalities from blast events have increased dramatically over the past few years," added General Hite.
Cymat's innovative SmartMetal(TM) solution addresses two major problems in troop safety and vehicle survivability. The material's effectiveness has been validated by independent testing and characterization completed in the US. SmartMetal(TM), as part of engineered solution, plays a key role in increasing troop survivability in today's conflicts in Iraq and Afghanistan. NATO forces, military vehicle OEM's and third party integrators are designing new armour systems and up-armoring of existing military vehicles by utilizing SmartMetal(TM) unique performance characteristics.
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.
SOURCE Cymat Technologies Ltd.
For further information: For further information: Investors and Media: Michael Liik, Executive Chairman, Cymat Technologies Ltd., Tel: (416) 307-4015, Email: firstname.lastname@example.org; Trevor Sandler, Chief Financial Officer, Cymat Technologies Ltd., Tel: (905) 696-2427, Email: email@example.com