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CYMAT Announces First Serial-Production Military Vehicle Order with Global Military Vehicle Manufacturer
CYMAT Announces First Serial-Production Military Vehicle Order with Global Military Vehicl...
About this update from Cymat Technologies Ltd
[{"type":"text","content":"\n\n\n\nCYMAT Announces First Serial-Production Military Vehicle Order with Global Military Vehicle Manufacturer\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCYMAT Announces First Serial-Production Military Vehicle Order with Global Military Vehicle Manufacturer\nCanada NewsWire\nTORONTO, Dec. 7, 2015\n\n\n\nListing: TSX-VSymbol: CYM\n\n\n\nTORONTO, Dec. 7, 2015 /CNW/ - Today Cymat Technologies Ltd. (\"Cymat\") announced that it has received an initial order from Panhard General Defense (\"Panhard\"), a division of Renault Trucks Defense and part of the Volvo Group, for 250 SmartMetalTM vehicle blast mitigation kits. The kits will be installed on the underside of Panhard's light armoured protected 4X4 wheeled class of vehicles. The SmartMetalTM panels have been engineered to provide a lightweight solution offering occupant protection from blast energy such as that resulting from the detonation of Improvised Explosive Devices. The approximate value of this order is $400,000 with delivery expected during the first half of calendar 2016.\n\nPanhard has supplied over 18,000 wheeled military vehicles to 50+ countries.  Panhard's current stable of light protected 4x4 wheeled vehicles includes the PVP, VBL, and the next-generation VBR and CRAB, of which there are currently over 3,500 in service.  Renault Trucks has over 30,000 military vehicles operating around the world with a group of vehicles that includes the 4X4 armoured Sherpa and the six-wheeled armoured VAB. \n\n\"This initial order is the gratifying result of a 4 year development process with Panhard, while also validating the Company's military strategy and establishing the military sector as a significant new vertical market we will focus on,\" stated Michael Liik, Cymat's Executive Chairman. Mr. Liik added: \"Our expectation is that such a significant resource commitment by a major global military player like Panhard is likely to yield further SmartMetalTM deployment with this group of military vehicle manufacturers In addition to Panhard. Cymat also continues to be actively engaged with sever...