Listing: TSX-V
Symbol: CYM
TORONTO, Oct. 11, 2017 /CNW/ - Today, Cymat Technologies
Ltd. (the "Company" or "Cymat") provided an update regarding its
joint venture (the "Venture") with Alucoil, SA. ("Alucoil") to
develop a metallurgically bonded aluminum foam based sandwich
panel.
Comprehensive engineering evalutions recently concluded with a
series of technical meetings held in Spain. As a result, the
"proof of concept" phase regarding the viability of metallurgically
bonding aluminum sheets to an aluminum foam core has now been
successfully established.
Cymat and Alucoil have agreed to proceed with a pilot production
line, located in Spain, to refine
the industrialization of the bonding process. The pilot line is
projected to be operational by the end of the first calendar
quarter of 2018 with the decision on whether to proceed to a
full-scale manufacturing facility to follow shortly
thereafter.
"Although the technical examination period lasted longer than
initially expected, I am pleased with the outcome of the Venture
team's work and look forward to moving to full-scale production in
the near future" stated Michael
Liik, Cymat's Executive Chairman.
"There are encouraging indications across multiple markets for
the unique sandwich panels contemplated by the Venture" added
Clemente Gonzalez Soler, President
of Aliberico Group, Alucoil's parent company, "and with Alucoil's
extensive distribution channels, we are well poised to take
advantage of this anticipated demand."
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 either continuously produced in flat panels or
as near-net shapes. 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 architectural, blast mitigation and automotive
industries. For further information, visit the Web site
www.cymat.com.
About Alucoil:
ALUCOIL is a multinational
company with factories on 4 continents and sales presence across 60
countries, specialized in the manufacturing of advanced materials
for building, transportation and industrial applications. ALUCOIL
manufactures high quality products such as larson® composite
panels, larcore® honeycomb panels, anolac® corrugated
aluminum sheets, and termolac® powder coating.
For further information, visit the Web site
www.alucoil.com.
SOURCE Cymat Technologies Ltd.