Listing: TSX Symbol: CYM
TORONTO, Aug. 17 /CNW/ - Cymat Technologies Ltd. is pleased to announce receipt of a purchase order from a major US armored vehicle manufacturer for 13 SmartMetal(TM) assemblies to be delivered in August 2009. These prototypes will be incorporated in and tested as part of a complete armoring system for the proposed vehicle.
The company, one of the attendees at Cymat's recent Industry Week in Nevada, will test these parts for a next generation military vehicle. Cymat's Industry Week demonstrated SmartMetal's(TM) ability to reduce blast energy transfer by at least a 7 to 1 ratio.
"It is anticipated that this testing program could lead to a full commercial vehicle contract thereby further validating SmartMetal(TM) as a key component in future survivability solutions within military vehicles," said Tim Hardman, President of Cymat. He added "Cymat continues to collaborate with major military OEM's and integrators by engineering SmartMetal(TM) into their survivability solutions."
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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