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Cymat Joint Venture facility in Spain progresses towards production
Cymat Joint Venture facility in Spain progresses towards production Canada NewsWir...
About this update from Cymat Technologies Ltd
[{"type":"text","content":"\n\n\n\nCymat Joint Venture facility in Spain progresses towards production\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\nCanada NewsWire\nTORONTO, April 23, 2019\n\n\n\nListing: TSX-VSymbol: CYM\n TORONTO, April 23, 2019 /CNW/ - Cymat Technologies Ltd. (the \"Company\" or \"Cymat\") is pleased to provide an update on the production facility under construction for its joint venture (the \"Venture\") with Alucoil, S. A. (\"Alucoil\") to manufacture a metallurgically bonded aluminum foam-based sandwich panel. \n\n \n \n\n \nThe necessary infrastructure is in place and the equipment, including the brazing furnace has been installed.  When fully operational, the facility in Spain will have a targeted annual output capacity of 500,000 m2. Cymat management expects that commercial production will commence in Cymat's new fiscal year that begins in May.\nMichael Liik, CEO commented \"We are very excited with the progress Cymat and Alucoil have made to date. We look forward to successful completion of production trials and the commencement of market testing\". These metallurgically bonded aluminum foam-based sandwich panels have been developed to supply multiple industries including transportation, construction, and elevators with a strong, lightweight and fire-resistant solution. Cymat will work closely with Alucoil to complete the testing and transition to commercial production.\nA current market research report published by Grand View Research, Inc. (www.grandviewresearch.com) quantifies the size of the global aluminum composite panel market at $US 5 billion+ annually with an expected growth trajectory to $US 8 billion+ by 2025. Alucoil is a significant supplier to the industry and is confident that the design of the Venture's panels will be very well received by its customers around the world. \nAbout Cymat: \nCymat develops innovative materials for industry. The company has worldwide rights, through patents and licenses, for producing Stabilized Aluminum Foam. The ultra-light metallic foam is manufactured by bubbling gas through molten alloyed aluminum...