GIVAT SHMUEL, Israel, May 12 /PRNewswire-FirstCall/ - Cimatron Ltd.
(Nasdaq: CIMT), a leading developer of CAD/CAM solutions for the tooling
industry, is pleased to announce the recent appointment of Yossi Ben Shalom as
the Company's Chairman of the Board of Directors, replacing Rimon Ben Shaoul.
Ben Shalom is currently a partner in DBSI, one of Cimatron's major
shareholders. He was formerly VP Finance of Koor Industries, and currently
serves as the Chairman of the Board of Nexus Telocation Systems Ltd. (NXUS).
Ben Shaoul, CEO of Koonras Technologies, served as Chairman of the Board
of Cimatron Ltd. since 2002. "We have great challenges ahead of us, but we are
confident that we will reach our business objectives and maintain Cimatron as
a market leader," comments Ben Shalom. "We thank Rimon for his two years of
dedicated service and for his many contributions to Cimatron." Ben Shaoul will
remain on as a member of the Board of Directors of Cimatron Ltd.
Cimatron Ltd.'s major shareholders are Koonras Technologies, a subsidiary
of Polar Investments, and the DBSI Investment group.
Cimatron Ltd. (Nasdaq: CIMT) is a leading developer of integrated CAD/CAM
solutions for the tooling industry. Through its Data-to-Steel product
philosophy, Cimatron is committed to providing mold, tool and die makers with
comprehensive, cost-effective solutions that streamline manufacturing cycles,
enable collaboration with outside vendors, and ultimately shorten product
delivery time. Worldwide, more than 8,500 customers, with over 17,000
installations in the automotive, consumer plastics, and electronics
industries, employ Cimatron's leading CAD/CAM solutions for manufacturing.
Founded in 1982, Cimatron Ltd. is publicly traded on the NASDAQ exchange under
the symbol CIMT. Cimatron's subsidiaries and extensive distributor network are
located in over 35 countries to serve customers worldwide with complete
pre- and post-sales support. For more information, visit our web site at
This release contains certain forward-looking statements which involve
known and unknown risks, uncertainties or other factors not under the
Company's control which may cause actual results, performance or achievements
of the Company to be materially different from the results, performance or
other expectations implied by these forward-looking statements. These factors
include, but are not limited to, those detailed in the Company's periodic
filings with the Securities and Exchange Commission.
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SOURCE Cimatron Ltd.