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Cymat Technologies Ltd V.CYM

Alternate Symbol(s):  CYMHF

Cymat Technologies Ltd. is a Canada-based manufacturing company. The Company holds licenses and related patents to make, use and sell Stabilized Aluminum Foam (SAF). SAF is produced utilizing a process, in which gas is bubbled into molten alloyed aluminum containing a dispersion of fine ceramic particles to create foam, which is then cast into panels and shapes. The Company is manufacturing SAF for use in architectural, blast mitigation and energy absorption applications. It continues to develop applications for use in the automotive and industrial markets. The Company operates through two divisions: SmartMetal and Alusion. Its SmartMetal stabilized aluminum foam products are effective at absorbing an amount of energy in a lightweight and recyclable package. Its flat panel architectural line of products is separately branded as Alusion. Alusion markets and sells directly or through a network of worldwide agents and distributors, for use in a range of projects.


TSXV:CYM - Post by User

Bullboard Posts
Post by red_baronon Nov 01, 2012 11:34am
170 Views
Post# 20550019

Cymat announces resignation of David Fowler

Cymat announces resignation of David Fowler

President and COO ........Nov. 1, 2012 /CNW/ - Cymat Technologies Ltd. today announced that David Fowler , President and COO will be leaving the Company as of November 9, 2012 . His duties and responsibilities will be assumed by Michael Liik, Executive Chairman, until such time as a replacement is found. David will continue to provide the Company with continuity assistance and guidance during a three-month transition period.
"This was a difficult decision for me to make" said David Fowler . "I believe that Cymat is well positioned to efficiently produce its unique product to satisfy an expanding market."
"It has been a pleasure working with David, and we would like to express our thanks for his extensive contributions," said Michael Liik. "Cymat continues to progress on a focused path towards profitability through sales growth and improved manufacturing efficiency.
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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