Listing: TSX-V
Symbol: CYM
TORONTO, April 23, 2019 /CNW/ - Cymat Technologies
Ltd. (the "Company" or "Cymat") is pleased to provide an update on
the production facility under construction for its joint venture
(the "Venture") with Alucoil, S. A. ("Alucoil") to manufacture a
metallurgically bonded aluminum foam-based sandwich panel.
The necessary infrastructure is in place and the equipment,
including the brazing furnace has been installed. When fully
operational, the facility in Spain
will have a targeted annual output capacity of 500,000 m2. Cymat management expects
that commercial production will commence in Cymat's new fiscal year
that begins in May.
Michael Liik, CEO commented "We
are very excited with the progress Cymat and Alucoil have made to
date. We look forward to successful completion of production trials
and the commencement of market testing". These metallurgically
bonded aluminum foam-based sandwich panels have been developed to
supply multiple industries including transportation, construction,
and elevators with a strong, lightweight and fire-resistant
solution. Cymat will work closely with Alucoil to complete the
testing and transition to commercial production.
A current market research report published by Grand View
Research, Inc. (www.grandviewresearch.com) quantifies the size of
the global aluminum composite panel market at $US 5 billion+
annually with an expected growth trajectory to $US 8 billion+ by
2025. Alucoil is a significant supplier to the industry and is
confident that the design of the Venture's panels will be very well
received by its customers around the world.
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.