Sep 19 2007
Cymat Technologies Ltd. announced today that its manufacturing partner, Georg Fischer Automotive, a leading global automotive parts supplier, has received its first prototype order utilizing Cymat's proprietary aluminum foam technology (SAF).
A German-based producer of high performance automobiles is interested in utilizing SAF in a chassis component to enhance performance by reducing vibration and harshness as well as improving its stiffness. The prototype parts, which will be produced by Georg Fischer in Switzerland with Cymat's assistance, will be delivered by the end of Q3.
This part represents the first prototype order contemplated by our long-term auto licensing agreement with Georg Fischer announced in November, 2006. Cymat will begin to receive royalty payments for this part.
"I am very pleased with the achievement of this important milestone in Cymat's automotive initiative," said Michael Liik, Cymat's Executive Chairman. "This first prototype order is the result of several years of development work and collaboration with our manufacturing partner Georg Fischer," he added.
"This first prototype order is a key validation of Cymat's SAF technology," said Leopold Kniewallner, Director of Research and Development of Georg Fischer. He went on to say "We believe that this order and others will be a catalyst for commercialization of SAF and lead to accelerating acceptance of the technology among automakers."
The Company also reported that its partners Georg Fischer and Valeo are both profiling new applications for Cymat's SAF at the prestigious Frankfurt Auto Show (IAA). This is the first time that either partner has presented SAF in specific commercially-ready applications in such a large and prestigious forum. Both companies have thus far received significant customer interest in these applications.
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