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CYMAT ANNOUNCES FIRST SIGNIFICANT MILITARY SERIAL PRODUCTION ORDER
CYMAT ANNOUNCES FIRST SIGNIFICANT MILITARY SERIAL PRODUCTION ORDER Canada NewsW...
About this update from Cymat Technologies Ltd
[{"type":"text","content":"\n \n \n \n CYMAT ANNOUNCES FIRST SIGNIFICANT MILITARY SERIAL PRODUCTION ORDER\n \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 \n Canada NewsWire\n \n \n \n \n \n MISSISSAUGA,ON\n \n ,\n \n \n Sept. 7, 2022\n \n \n /CNW/ - Cymat Technologies Ltd. (TSXV: CYM) (OTCQB: CYMHF) (the \"\n \n Company\n \n \" or \"\n \n Cymat\n \n \") is pleased to announce that the Company has received a purchase order for military under-belly blast protection kits (\"blast kits\") from an Asian military vehicle manufacturer for use by the Singaporean military. This order for three blast kits represents the first production order of ultimately up to 700 blast kits by this military. The final value of the purchase orders is anticipated to be between\n \n $5\n \n and\n \n $7 million\n \n .\n \n \n \n \n \n \n \n \n \n Cymat previously announced the delivery of two underbelly kits (see press release dated\n \n September 20, 2021\n \n ). Those kits were delivered for the purposes of conducting further testing and evaluation by the manufacturer and military with the objective of retrofitting their fleet of troop and supply carrying vehicles. With testing now completed, our customer has confirmed the military's commitment to moving forward to install the blast kits on their vehicles and the commencement of Low Rate Initial Production (\"LRIP\").\n \n \n Cymat has been working for years on developing blast kits for various military patrol vehicles in active use. These blast kits are designed to mitigate the usually fatal effects of Improvised Explosive Devices (\"IEDs\") or very powerful land mines. Cymat's SmartMetal™ stabilized aluminum foam (\"SAF\") has been proven to be particularly effective at absorbing and reducing the energy of the compressed air wave that precedes these explosions.\n \n \n Cymat CEO,\n \n Michael Liik\n \n commented, \"This is truly an exciting breakthrough for Cymat in the military sector. The successful testing and resulting long-term production order, has provided our customer with the impetus to now expand marketing of their improved vehicle design, ...