Business
CYMAT ENTERS INTO LETTER OF INTENT WITH RIO TINTO ALCAN TO ACQUIRE TECHNOLOGY & ASSUME CUSTOMERS OF THEIR PROPRIETARY ALUMINUM METAL MATRIX COMPOSITES BUSINESS
CYMAT ENTERS INTO LETTER OF INTENT WITH RIO TINTO ALCAN TO ACQUIRE TECHNOLOGY & ASSUME CUSTOM...
About this update from Cymat Technologies Ltd
[{"type":"text","content":"\n\n\n\n CYMAT ENTERS INTO LETTER OF INTENT WITH RIO TINTO ALCAN TO ACQUIRE TECHNOLOGY & ASSUME CUSTOMERS OF THEIR PROPRIETARY ALUMINUM METAL MATRIX COMPOSITES BUSINESS\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 CYMAT ENTERS INTO LETTER OF INTENT WITH RIO TINTO ALCAN TO ACQUIRE TECHNOLOGY & ASSUME CUSTOMERS OF THEIR PROPRIETARY ALUMINUM METAL MATRIX COMPOSITES BUSINESS\n \n\n Canada NewsWire\n \n\n\n\n\n\n MISSISSAUGA, ON\n \n\n ,\n \n\n June 24, 2025\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 it has entered into a Letter of Intent (\"LOI\") with Rio Tinto Alcan Inc. (\"RTA\") to acquire the technology and related knowhow to manufacture its proprietary aluminum metal matrix composites (\"MMC\") and to facilitate the transfer of RTA's customers for the product.\n \n\n\n\n\n\n\n\n\n MMC is a ceramic particle-infused aluminum used in the automotive and rail industries for light weight components requiring extreme wear-resistance. RTA, who has been manufacturing and selling its proprietary MMCs for over 40 years, has decided to exit the business due to a strategic reorganization. As the only major supplier of this proprietary MMC in the world, RTA is seeking a smooth and un-interrupted transition of this business for its long-standing customers. Cymat utilizes this product as its primary input material to produce stabilized aluminum foam (\"SAF\"). Its familiarity with the material makes Cymat well qualified and uniquely positioned to take on this business line.\n \n\n Cymat intends to establish MMC production capability within its existing\n \n Mississauga\n \n plant. Given the similarities and common skill sets required to produce MMC with its own SAF product, Cymat will have the ability to utilize its existing workforce, engineering, and support services to efficiently and economically produce this proprietary MMC.\n \n\n From a financial perspective, historical sales volumes provided by RTA suggest that Cymat could realize incremental annual revenue ...