Business
Cymat announces breakthrough military order
Listing: TSX Symbol: CYM TORONTO, Feb. 2 /CNW/ - Cymat Technologies Ltd (symbol CYM, TSX) is plea...
About this update from Cymat Technologies Ltd
[{"type":"text","content":"\n\n\n\nListing: TSX\nSymbol: CYM\n\n\nTORONTO, Feb. 2 /CNW/ - Cymat Technologies Ltd (symbol CYM, TSX) is\npleased to announce receipt of its first preproduction development award from\nthe Canadian Department of National Defence (DND) for its unique blast\nmitigation material SmartMetal(TM). DND will be testing SmartMetal(TM) as part\nof a retrofit kit to increase blast survivability of a specific military\nvehicle platform operating in Afghanistan.\n\n\nIt is anticipated that delivery of this order and subsequent successful\nblast/field testing shortly thereafter will lead to a production order by mid\nto late 2009.\n\n\n"This is a major milestone in Cymat's road to commercialization," said\nTim Hardman, Cymat's President. "Based on independent testing completed in the\nUS, Cymat's SmartMetal(TM) can play a key role in increasing troop\nsurvivability when "up-armoring" military vehicles. He went on to say "We\nbelieve that our ongoing collaboration with key US military and defence\npartners will yield similar commercial awards for large scale projects in the\nUS in 2009. We are honoured to play a major role in increasing Canadian, US\nand NATO's troop safety capabilities," he added.\n\n\nAbout Cymat:\n\n\nCymat develops innovative materials for industry. The company has\nworldwide rights, through patents and licenses, for producing Stabilized\nAluminum Foam. The ultra-light metallic foam is manufactured by bubbling gas\nthrough molten alloyed aluminum containing a dispersion of fine ceramic\nparticles and can be produced as either Near-net Shapes or Flat Panels. The\nresult is a revolutionary material with a wide array of features including\nvery low density, mechanical energy absorption, thermal and acoustic\ninsulation, is recyclable, time and temperature insensitive and has a\nrelatively low cost of production. Cymat is collaborating with a number of\npartners spanning the automotive, architectural and blast mitigation\nindustries. For further information, visit the Web site www.cymat.com.\n\n\nThe foregoing press release contains forward-looking statements relating\nto the development of markets, development programs, future revenues and\nimprovements in technology, which are subject to important risks and\nuncertainties. The results or events predicted in these statements may differ\nma...