Cymat announces successful "Industry Week" in Nevada, USA
posted on
Jul 07, 2009 09:34AM
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Attention Business Editors Cymat announces successful "Industry Week" in Nevada, USA << Listing: TSX Symbol: CYM >> TORONTO, July 7 /CNW/ - Cymat Technologies Ltd. is pleased to announce a successful "Industry Week" that took place during the week ended June 26, 2009 at a world-renowned independent blast testing facility in Nevada, United States. The purpose of "Industry Week" was to demonstrate the high performance capability of SmartMetal(TM) with respect to its ability to provide protection against blast threats. In attendance were over 40 people representing military vehicle manufacturers, architectural companies, and Canadian Defence Department staff. During "Industry Week", Cymat hosted 2 blast test events to provide clients with real-time SmartMetal(TM) performance data. The testing showed a reduction of at least 7 to 1 in blast energy transfer with a 50% compaction of each foam panel. Cymat has contracted the test facility to complete a total of 24 blast tests on a select group of densities and thicknesses of foam to enable our clients to model with and integrate SmartMetal(TM) into their survivability solutions. "Industry Week proved to be a great success for Cymat on a number of fronts. It enabled us to showcase our SmartMetal to key defence industry and military personnel from around the world. As well, we were able to provide attendees with preliminary performance data for design purposes." said Tim Hardman, President of Cymat. He added "As we complete the remainder of our blast tests through July, our goal is to compress SmartMetal(TM) to 20% of its original thickness which in turn would deliver even higher performance levels than currently demonstrated." 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. -30- /For further information: Investors and Media: Michael Liik, Executive Chairman, Cymat Technologies Ltd., Tel: (416) 307-4015, Email: liik@cymat.com; Trevor Sandler, Chief Financial Officer, Cymat Technologies Ltd., Tel: (905) 696-2427, Email: tsandler@cymat.com/