GIVAT SHMUEL, Israel, March 11, 2013 /PRNewswire/ --
Cimatron Limited (NASDAQ and TASE: CIMT) announced today a major deal involving the deployment of CimatronE CAD/CAM software within one of the world's largest manufacturers for the global computing, communication, and consumer electronics (3C) industry. The Taiwanese based Group prides itself with serving some of the world's leading and most famous global brand names.
"We held benchmarks against a variety of CAD/CAM solutions, but the customer found CimatronE to be the best in terms of productivity and the quality of the parts produced," said Mrs. Lang Yan, Cimatron's General Manager for Greater China. "The benchmarks covered the design of complex electrodes, dies and fixtures, as well as CNC machining, and in all of these CimatronE excelled."
The Taiwanese Group claims the largest share of the magnesium alloy die casing manufacturing market for the global 3C industry, producing parts mainly for notebooks, smart phones and other electronic devices. It also manufactures aluminum, zinc, stainless steel and plastic parts with different forming processes, such as die casting, press, forging, extrusion and injection molds. The Group has 40,000 employees across its offices in Taiwan and four large manufacturing facilities in mainland China.
"The Taiwanese Group is among several of our larger customers specializing in the design and manufacture of high-end components for the computing, communication and consumer electronic markets," said Mr Ira Bareket, Cimatron's VP Sales and Marketing.
"The Group operates in a very competitive and demanding field, characterized by innovative products with relatively short lifecycles that are subject to frequent design changes and exacting standards in terms of quality. Today's consumers demand ever more technologically advanced, sophisticated products that are visually appealing, and it is up to the 3C manufacturers to meet this need by implementing manufacturing technologies capable of supporting the challenging design requirements, while looking for ways to reduce delivery time."
"We make it our business to help customers like the Taiwanese Group meet their business goals by providing them with CAD/CAM software that can address their specific manufacturing business needs. We look forward to working in partnership with them and contributing to their continued success."
With 30 years of experience and more than 40,000 installations worldwide, Cimatron is a leading provider of integrated, CAD/CAM software solutions for mold, tool and die makers as well as manufacturers of discrete parts. Cimatron is committed to providing comprehensive, cost-effective solutions that streamline manufacturing cycles and ultimately shorten product delivery time.
The Cimatron product line includes the CimatronE and GibbsCAM brands with solutions for mold design, die design, electrodes design, 2.5 to 5 axes milling, wire EDM, turn, mill-turn, rotary milling, multi-task machining, and tombstone machining. Cimatron's subsidiaries and extensive distribution network serve and support customers in the automotive, aerospace, medical, consumer plastics, electronics, and other industries in over 40 countries worldwide.
Cimatron's shares are publicly traded on the NASDAQ exchange and the Tel Aviv Stock Exchange under the symbol CIMT. For more information, please visit Cimatron's web site at: http://www.cimatron.com
This press release includes forward looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risk and uncertainties that could cause actual results to differ materially from those anticipated. Such statements may relate to Cimatron's plans, objectives and expected financial and operating results. The words "may," "could," "would," "will," "believe," "anticipate," "estimate," "expect," "intend," "plan," and similar expressions or variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Cimatron's ability to control. The risks and uncertainties that may affect forward looking statements include, but are not limited to: currency fluctuations, global economic and political conditions, marketing demand for Cimatron products and services, long sales cycles, new product development, assimilating future acquisitions, maintaining relationships with customers and partners, and increased competition. For more details about the risks and uncertainties related to Cimatron's business, refer to Cimatron's filings with the Securities and Exchange Commission. Cimatron cannot assess the impact of or the extent to which any single factor or risk, or combination of them, may cause. Cimatron undertakes no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
For More Information Contact:
Chief Financial Officer
Idit Pass Lagziel
Investor Relations contact:
Ehud Helft/Kenny Green
CCG Investor Relations
Tel: (US) +1-646-201-9246
SOURCE Cimatron Ltd