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Cymat receives first automotive prototype order from high-performance German auto maker
Cymat receives first automotive prototype order from high-performance German auto maker.
About this update from Cymat Technologies Ltd
[{"type":"text","content":"\n\n\n\nListing: TSX\n\n\nSymbol: CYM\n\n\nTORONTO, Sept. 18 /CNW/ - Cymat Technologies Ltd. announced today that\nits manufacturing partner, Georg Fischer Automotive, a leading global\nautomotive parts supplier, has received its first prototype order utilizing\nCymat's proprietary aluminum foam technology (SAF).\n\n\nA German-based producer of high performance automobiles is interested in\nutilizing SAF in a chassis component to enhance performance by reducing\nvibration and harshness as well as improving its stiffness. The prototype\nparts, which will be produced by Georg Fischer in Switzerland with Cymat's\nassistance, will be delivered by the end of Q3.\n\n\nThis part represents the first prototype order contemplated by our\nlong-term auto licensing agreement with Georg Fischer announced in November,\n2006. Cymat will begin to receive royalty payments for this part.\n\n\n"I am very pleased with the achievement of this important milestone in\nCymat's automotive initiative," said Michael Liik, Cymat's Executive Chairman.\n"This first prototype order is the result of several years of development work\nand collaboration with our manufacturing partner Georg Fischer," he added.\n\n\n"This first prototype order is a key validation of Cymat's SAF\ntechnology," said Leopold Kniewallner, Director of Research and Development of\nGeorg Fischer. He went on to say "We believe that this order and others will\nbe a catalyst for commercialization of SAF and lead to accelerating acceptance\nof the technology among automakers."\n\n\nThe Company also reported that its partners Georg Fischer and Valeo are\nboth profiling new applications for Cymat's SAF at the prestigious Frankfurt\nAuto Show (IAA). This is the first time that either partner has presented SAF\nin specific commercially-ready applications in such a large and prestigious\nforum. Both companies have thus far received significant customer interest in\nthese applications.\n\n\nAbout Georg Fischer:\n\n\nGF Automotive, the automotive division of Georg Fischer AG, is an\ninternationally oriented corporate group with thirteen production plants in\nfour countries (Germany, Austria, China and Canada). Its activities focus on\nthe development and production of highly stress-resistant die-castings for the\nautomotive industry and its suppliers. GF Autom...