<< Listing: TSX Symbol: CYM >> TORONTO, Oct. 17 /CNW/ - Cymat Technologies Ltd. today announced that it has begun to generate significant revenues from its Flat Panel product line. Flat Panel revenues from the past three months have exceeded $340,000, representing a 100% increase over the equivalent period in 2005. This marks an important milestone for Cymat with respect to its recent efforts to transition from R&D to a revenue focused organization. This revenue is generated primarily from a major European supplier for Audi showrooms. Cymat's architectural product Alusion is being featured as the display platform for the new Audi models in their showrooms. Alusion was selected after an exhaustive analysis of Cymat's competitors. "Producing this order and gearing up for the backlog has been a challenge for Cymat in the past months as we transform our plant from a limited run R&D focus to volume manufacturing," said Chris Skillen CEO of Cymat. "There have been production delays and breakdowns but the hard work of our staff and understanding of our customers has allowed us to continue to improve production output," he added. On the automotive front, the company has recently been advised by two of its European partners of their renewed success with utilizing Cymat's aluminum foam in their component designs. This should lead to a shorter timeline to product acceptance by their OEM customers. Having completed the development work for its shaped automotive product line, Cymat is now moving towards a leaner operation consistent with a royalty based model and focusing on early revenue generation. For its Flat Panel product line, Cymat is investigating new uses for its proprietary material in areas such as blast mitigation. Important independent research, supported by multiple field trials, has confirmed that the Cymat's aluminum foam effectively reduces shock waves and mitigates blast damage. The foam is light weight, blast resistant, as well as temperature and age stable. As such, Cymat's product could be utilized to cost-effectively reduce mortality and morbidity as well as protect buildings in both military and civilian applications. The blast mitigation market is expanding rapidly thereby providing a significant growth opportunity for Cymat. Cymat would like to welcome Trevor Sandler, CA, MBA, to the company as its new Vice President of Finance. He will be replacing Rick Rogers, Cymat's previous CFO. Rick is also resigning from the Board. This new finance position consolidates both Rick's responsibilities and those of Cymat's previous controller. The Company also welcomes Philip Neukom, CMC, MBA, as its Executive Vice President of Operations. He joined the team in mid-June and brings expertise in lean manufacturing, turnarounds, European operations and Venture Capital. Over the last few months, Cymat has made substantial expense cuts to its ongoing operations through management restructuring and staff reductions. At the same time, the company has dramatically increased production to meet rising demand as well as completed the Brompton financing transaction. With its new revenue generation focus and leaner corporate structure, Cymat is well positioned to realize the full potential of its world leading, patented aluminum foam technology. About Cymat: Cymat develops innovative materials for industry. The company has exclusive 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 new strategic material with a wide array of benefits, including a good stiffness-to-weight ratio, mechanical energy absorption at low stress levels, thermal and acoustic insulation, recyclability and relatively low cost of production. Cymat is collaborating with a number of partners spanning the automotive, transportation and blast mitigation construction industries. 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 Corp. with the Ontario Securities Commission. Cymat Corp. disclaims any intention or obligation to update or revise any forward-looking statements.