Business
Cymat Announces Significant Spanish Distribution Agreement
Cymat Announces Significant Spanish Distribution Agreement.
About this update from Cymat Technologies Ltd
[{"type":"text","content":"\n\n\n\nTORONTO, July 6 /CNW/ - Cymat Technologies Ltd. entered into an exclusive\ndistribution agreement with Vitrocsa, a distribution leader in architectural\nmaterials in Spain. They will offer Cymat's flat panel products (Alusion) to\nbuilders and architects throughout the country. The terms of the agreement\nrequire stepped minimum purchases totaling $3 million during the term of the\nagreement. It is anticipated that actual revenues will be substantially\nhigher.\n\n\n"We are pleased with our partnership with Vitrocsa and how it has\ndeepened in the last year and now anticipate major projects in Spain" said\nChris Skillen, President and CEO of Cymat. "With Vitrocsa's existing footprint\nin Spain as well as its success in developing innovative material solutions,\nCymat is well positioned to grow its architectural industry products further\nin keeping with its strategy" he continued.\n\n\nVitrocsa has identified a number of high profile projects which will\nestablish our innovative material in the Spanish market. Additionally,\nVitrocsa is developing a number of patented applications for Cymat's product\nwhich will allow them and their customers to maintain a leadership position\nwith Cymat's foam technology.\n\n\nThis agreement bodes well for increased product use and revenues for\nCymat as the company continues to transition to a revenue-based company from\nits research roots.\n\n\nCymat is making good progress on a number of fronts and will announce key\ntransactions as they occur consistent with proper disclosure requirements.\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 informati...