TORONTO, Nov. 17 /CNW/ - Cymat Technologies Ltd. announced today that in cooperation with its automotive manufacturing partner, Georg Fischer Automotive, it has received an order for prototype parts from a leading German automobile manufacturer using Cymat's proprietary stabilized aluminum foam (SAF) technology.
The automobile manufacturer will be testing the use of SAF as a dampening medium within a certain chassis component to improve noise, vibration and harshness (NVH) performance.
"This order illustrates the continued high level of interest exhibited by the automotive community toward SAF technology, said Tim Hardman, Cymat's President and COO. He went on to say that "This is heightened by the current world-wide interest in "light-weight" solutions to technical challenges in efforts to improve fuel economy and emissions"
Leo Kniewallner, Director of Research and Development of Georg Fischer Automotive said, "We have seen ever increasing levels of interest in SAF from the automotive industry in recent months and we believe that this project will be the first of several to be secured over the next few months."
About Georg Fischer:
GF Automotive, the automotive division of Georg Fischer AG, is an internationally oriented corporate group with thirteen production plants in four countries (Germany, Austria, China and Canada). Its activities focus on the development and production of highly stress-resistant die-castings for the automotive industry and its suppliers. GF Automotive is a technological pioneer and market leader within its segment in Europe for all casting processes (sand casting, gravity die casting, pressure die casting) and materials (iron, aluminum, magnesium) relating to series production. GF Automotive is one of the hundred largest automotive suppliers internationally. The corporate group has 5,882 employees worldwide and achieved a turnover of 2.22 billion Swiss francs (around 1.35 billion Euros) in 2007.
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 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, blast mitigation and architectural 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 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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