Listing: TSX
Symbol: CYM
TORONTO, April 22 /CNW/ - Cymat Technologies Ltd. is pleased to announce the appointment of Tim Hardman as its new President and Chief Operating Officer. He will be replacing Chris Skillen, Cymat's current President and Chief Executive Officer.
Tim brings to Cymat an extensive background in aluminum sales and marketing with particular expertise in the defense and aerospace industries. In his latest position, Tim successfully transitioned a materials technology company from R& D to profitability, with direct responsibility for operations, engineering, and sales and marketing. This experience base dovetails well with Cymat's current strategy of achieving near term profitability through accelerated commercialization of its unique aluminum foam technology.
"We are extremely fortunate to have attracted an executive of Tim's caliber," said Michael Liik, Executive Chairman of Cymat. He added "Tim's in-depth understanding of our industry and customers will ensure a smooth transition and be invaluable in moving the company to the next level."
"I am very excited about the opportunity to lead Cymat's commercialization efforts," said Tim Hardman, Cymat's new President and COO. He went on to say "I am looking forward to accelerating Cymat's current efforts particularly in the defense industry with its blast mitigation products."
As interest in Cymat's proprietary material continues to expand in the automotive field, the company will also be looking to bolster its management team with a senior auto executive.
The company would like to thank Chris Skillen for his efforts during his tenure at Cymat.
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.