Listing: TSX-V
Symbol: CYM
TORONTO, Nov. 28, 2018 /CNW/ - Today, Cymat
Technologies Ltd. ("Cymat") provided an update on the progress of
the aluminum foam sandwich panel initiative with its Spanish
collaborator, Alucoil, S. A. ("Alucoil").
Members of Cymat's senior management team have just returned
from Miranda de Ebro, Spain where
they witnessed the operation of Alucoil's new panel brazing
facility. This facilities' manufacturing line incorporates a
production-scale, state-of-the-art brazing furnace that will
support a fully automated process. Final commissioning of the
brazing system, an exclusive Alucoil design, is expected to be
completed in early calendar 2019. At the conclusion of the
trials, the brazing system will be able to produce commercial-grade
sandwich panels.
The core of the sandwich panels will be a new Stabilized
Aluminum Foam ("SAF") - a material recently developed by Cymat.
This SAF was engineered to exhibit material properties specifically
required by this proprietary brazing process. The resulting
sandwich panels will be stronger and non-combustible, and are
intended to meet increasing safety standards being mandated by
regulators and demanded by the public.
"After witnessing the accomplishment and commitment of the
Spanish engineering and commercial sales teams, I am confident that
the perfection of these panels will generate a significant revenue
opportunity for Cymat," said Michael
Liik, Cymat's Executive Chairman. A report published earlier
this year places global annual demand for aluminum composite panels
at $US 6.3 Billion for 2017 and
projects annual demand to grow to $US 8.8
Billion by 2022.
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.