Cymat Technologies Ltd. is pleased to announce that it has entered into a Partnership Agreement with a global Tier 1 automotive parts manufacturer to design and manufacture proprietary lightweight, energy absorbing components for the automotive industry.

Cymat, together with its automotive component design partner Tesseract Structural Innovations, Inc. ("Tesseract"), has designed, prototyped and tested numerous innovative lightweight, energy absorbing components for the automotive industry. Cymat and Tesseract are currently engaged in the design of a new component in response to an RFI from a global automotive manufacturer.

While Cymat has the experience and manufacturing capacity to deliver the stabilized aluminum foam ("SAF") elements of this new component, it lacks the capability and facilities to assemble such a complex SAF-filled aluminum part. As such, Cymat has entered into a partnership agreement with an automotive Tier 1 parts manufacturer that specializes in the design and manufacturing of complex aluminum extrusions required for this component. The agreement contemplates both design participation and manufacturing/assembly of this part as well as other components that the parties may decide to jointly pursue.

Cymat CEO and Chairman Michael Liik commented "We are excited to be partnered with this major auto parts manufacturer as it completes the last piece of the puzzle needed to secure automotive contracts." He added "As our new partner is an established supplier to this automotive OEM as well as numerous other automotive OEMs around the world, we also look forward to jointly introducing our innovative solutions to a host of new prospective automotive manufacturers."

 

Source: prnewswire.com

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