Jul. 5, 2011 (Canada NewsWire Group) --
Listing: TSX
Symbol: CYM
TORONTO, July 5, 2011 /CNW/ - Cymat Technologies Ltd., a materials technology company, today announced that its architectural product Alusion™ will be utilized to clad the exterior of a 12,000 square meter building in downtown Tbilisi, the capital of Georgia. As part of a multifunctional complex, Alusion™ will clad a uniquely shaped outwardly sloping building that, like the Alusion™ product, will stand out from the rest of the buildings in the city.
Architect Levan Mushkudiani of ARCITECTS.GE selected Alusion™ in his search for something new and creative for this distinctive project. The entire external façade will be clad with Alusion™ large cell two-sided open panels. The order, totalling more than $700,000 US, must be delivered for a September 2011 installation. This is Cymat's first external cladding application in a more northern region.
"This project is an exciting opportunity, representing an important breakthrough into another part of the world, and a demonstration of Cymat's improved manufacturing process as the entire order will be produced and shipped in a six week period", said David Fowler Cymat's President and COO. He stated further that "It represents Cymat's second largest external cladding order and we are pleased to see that Alusion™ seems to be creating momentum in the exterior cladding market!"
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.
Investors and Media:
Michael Liik
Executive Chairman
Cymat Technologies Ltd.
Tel: (416) 307-4015
Email: liik@cymat.com