Listing:
TSX-V
Symbol:
CYM
TORONTO, June 20, 2018 /CNW/ - Today, Cymat Technologies
Ltd. ("Cymat") provided an update on the progression of business
development activities pertaining to military vehicles and the
joint venture sandwich panel initiatives.
On the military vehicle front, Cymat has been developing a
version of its SmartMetalTM material for Science
Applications International Corp. ("SAIC") - one of only two
companies competing to provide the U.S. Marines with the
next-generation Amphibious Combat Vehicle (the "ACV").
SmartMetalTM kits provided the SAIC version of the ACV
with capabilities vital to satisfying the Marines' functional
requirements for the vehicle. Unfortunately, the Marines have
selected the other competing firm to be the provider of ACVs.
"While the Marines selection is disappointing to Cymat," said
Michael Liik, Cymat Executive Chair,
"I believe that our collaboration with SAIC on the ACV project has
the potential to provide longer range benefits for the adoption of
SmartMetalTM in military vehicle applications."
Cymat continues to work closely with Alucoil SA., our venture
partner, on the completion of a pilot production line for the
manufacture of aluminum sandwich panels with Cymat's Stabilized
Aluminum Foam ("SAF") as the panel core. The pilot panel brazing
line in Spain is expected to be
completed in August. At that time Cymat will deliver recently
developed SAF panels, produced at the Ontario location, with an aluminum alloy and
metal matrix composite that is new to Cymat's production process.
These panels measuring approximately 1.2 meters by 1.4 meters will
be utilized in the Spanish brazing trials, which will inform our
decision on how to proceed to full-scale production. It is
anticipated that this brazing line will be combined with a SAF
production line, thereby expediting the transition to full-scale
production capability. Meaningful revenue from sandwich panel
production is not expected to occur before Cymat's next fiscal year
end.
Recently the world marked the one year anniversary of the tragic
fire in London's Grenfell Tower. Investigators have identified
aluminum-composite panels with combustible cores as a contributor
to the rapid spread of this fire which claimed the lives of 71
people. International standard setting bodies - including the
International Code Council which governs construction standards for
the United States and other global
markets - are currently examining existing building codes and
recommending stricter limits on fire ratings for material used in
the construction of highrise building facades. The sandwich
panels under development by Alucoil and Cymat are targeted to meet
applications requiring such increased combustibility
resistance.
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.
SOURCE Cymat Technologies Ltd.