Business
Cymat reports progress on its new stratigic direction and revenue increase from supply contract from Isaria Corporate Design AG. for Audi showrooms
Cymat reports progress on its new stratigic direction and revenue increase from supply contract from Isaria Corporate Design AG. for Audi showrooms.
About this update from Cymat Technologies Ltd
[{"type":"text","content":"\n\n\n\n\n>\n\nTORONTO, Oct. 17 /CNW/ - Cymat Technologies Ltd. today announced that it\nhas begun to generate significant revenues from its Flat Panel product line.\nFlat Panel revenues from the past three months have exceeded $340,000,\nrepresenting a 100% increase over the equivalent period in 2005. This marks an\nimportant milestone for Cymat with respect to its recent efforts to transition\nfrom R&D to a revenue focused organization.\nThis revenue is generated primarily from a major European supplier for\nAudi showrooms. Cymat's architectural product Alusion is being featured as the\ndisplay platform for the new Audi models in their showrooms. Alusion was\nselected after an exhaustive analysis of Cymat's competitors.\n\"Producing this order and gearing up for the backlog has been a challenge\nfor Cymat in the past months as we transform our plant from a limited run R&D\nfocus to volume manufacturing,\" said Chris Skillen CEO of Cymat. \"There have\nbeen production delays and breakdowns but the hard work of our staff and\nunderstanding of our customers has allowed us to continue to improve\nproduction output,\" he added.\nOn the automotive front, the company has recently been advised by two of\nits European partners of their renewed success with utilizing Cymat's aluminum\nfoam in their component designs. This should lead to a shorter timeline to\nproduct acceptance by their OEM customers. Having completed the development\nwork for its shaped automotive product line, Cymat is now moving towards a\nleaner operation consistent with a royalty based model and focusing on early\nrevenue generation.\nFor its Flat Panel product line, Cymat is investigating new uses for its\nproprietary material in areas such as blast mitigation. Important independent\nresearch, supported by multiple field trials, has confirmed that the Cymat's\naluminum foam effectively reduces shock waves and mitigates blast damage. The\nfoam is light weight, blast resistant, as well as temperature and age stable.\nAs such, Cymat's product could be utilized to cost-effectively reduce\nmortality and morbidity as well as protect buildings in both military and\ncivilian applications. The blast mitigation market is expanding rapidly\nthereby providing a significant growth opportunity for Cymat.\nCymat would like to welcome Trevor Sandler, CA, MBA, to the compa...