Listing: TSX Symbol: CYM
TORONTO, Feb. 23 /CNW/ - Cymat Technologies Ltd (symbol CYM, TSX) announces that it has completed its previously announced project of casting prototype parts for a 2010 vehicle platform on behalf of a leading German automobile manufacturer using Cymat's proprietary aluminum foam technology (SAF).
Tim Hardman, the company's President said, "Following our November 17, 2008 announcement of a project to investigate the use of Stabilized Aluminum Foam (SAF) to improve noise vibration and harshness properties in a specific chassis component for a major German OEM, I am pleased to announce that prototype parts have been completed and shipped to the customer for analysis. We are pleased with our inhouse analysis of the parts."
"In addition, the same OEM has expressed interest in the use of SAF as a structural crash protection enhancement element for an existing model. We have, in collaboration with our partners at Georg Fischer, submitted project specifications and are awaiting their approval to proceed," he continued.
About Cymat:
Cymat 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 containing a dispersion of fine ceramic particles and can be produced as either Near-net Shapes or Flat Panels. The result is a revolutionary material with a wide array of features including very low density, mechanical energy absorption, thermal and acoustic insulation, is recyclable, time and temperature insensitive and has a relatively low cost of production. Cymat is collaborating with a number of partners spanning the automotive, architectural and blast mitigation industries. For further information, visit the Web site www.cymat.com.
The foregoing press release contains forward-looking statements relating to the development of markets, development programs, future revenues and improvements in technology, which are subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include the availability of funding, existing and future relationships with suppliers and manufacturers, the results of research and development activities, risks of technological breakthroughs that make Cymat stabilized aluminum foam less attractive, risks relating to the breadth, scope and enforceability of intellectual property rights, general industry and market conditions, availability of qualified personnel, and reliance on co-development partners. For additional information with respect to these and other factors, see the reports filed by Cymat Technologies Ltd. with the Ontario Securities Commission. Cymat Technologies Ltd. disclaims any intention or obligation to update or revise any forward-looking statements.
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