MOORPARK, CA – October 28, 2013 – Cimatron Limited (NASDAQ: CIMT), a leading provider of integrated CAD/CAM software solutions for the toolmaking and manufacturing industries, today announced that it has granted 50 seats of its GibbsCAM® software to Boston University's College of Engineering. The software, which has a commercial value of over $725,000.00, provides Boston University students the ability to program a full range of CNC machine tools from importing CAD models to generating toolpath to verifying the part program with machine tool simulation.
Programming capabilities include 2- through 5-axis milling, 2-axis turning, mill-turn, multitask machining and wire EDM. The software also provides native interoperability with PTC Creo Parametric software, the college's CAD standard, enabling direct transfer of PTC Creo models to GibbsCAM for manufacturing. The GibbsCAM software will be used in both the traditional classroom environment and in Boston University's new, 20,000 square foot Engineering Product Innovation Center (EPIC), where students of all engineering disciplines will learn about product development, from concept through design, manufacturing and delivery.
"We congratulate the Boston University College of Engineering on building its new EPIC facility with state-of-the-art technology," said Robb Weinstein, Senior Vice-President of Sales and Strategic Planning of Gibbs and Associates, a Cimatron Group subsidiary. "It is with great pleasure that we partner with Boston University to supply a state-of-the art CNC programming system for incorporation into their engineering and manufacturing curricula and the EPIC facility. In addition to being an efficient platform for manufacturing, GibbsCAM is also an effective tool for teaching and learning CNC programming and machining processes. We are confident that the College of Engineering will find GibbsCAM to be a valuable asset for educating the manufacturing professionals of tomorrow."
About the Boston University College of Engineering
The Boston University College of Engineering offers an array of bachelor's, master's and doctoral degrees in a variety of engineering disciplines. Through its academic programs, world-class research and experiential opportunities, the College strives to create Societal Engineers who are prepared to use their engineering education to improve society.
About Gibbs and Associates and GibbsCAM
For over thirty years, Gibbs and Associates has been a leader in providing cutting edge CAD/CAM technology, while maintaining its signature ease-of-use and productivity. Powerfully Simple, Simply Powerful is the guiding philosophy at Gibbs. Gibbs believes in empowering the NC programmer, machinist, and manufacturing engineer, not eliminating them. Gibbs' goal is to introduce manufacturers to new technologies and new ways of working that makes their machining easier and their businesses more profitable. To achieve this goal, Gibbs creates tools that are naturally intuitive, graphically interactive, extremely visual, associative, and just plain enjoyable to use. Gibbs provides a total quality solution with the service and support that successful customers require.
The current GibbsCAM product line supports 2- through 5-axis milling, turning, mill/turning, multi-task simultaneous machining and wire-EDM. GibbsCAM also provides fully integrated manufacturing modeling capabilities that include 2D, 2.5D, 3D wireframe, surface, and solid modeling. GibbsCAM is Compatible with Windows 7, Windows 8 and Certified for Windows Vista. GibbsCAM's data exchange capabilities are able to access the broadest range of native and industry standard CAD data formats. GibbsCAM is certified under the Autodesk Inventor Certified Program, is a Siemens Solution Partner Program-PLM for Solid Edge product, is a Gold Tier Partner within the PTC Partner Advantage Program and is a SolidWorks Certified CAM Product. GibbsCAM is either offered or endorsed by a number of leading worldwide control and machine tool manufacturers, including GE Fanuc, Infimatic, Siemens, Doosan Infracore, DMG / MORI SEIKI, Haas, Index, MAG, Mazak, Mitsubishi, Okuma and Tornos. Gibbs and Associates distributes its products worldwide through a network of international Resellers.
In January 2008, Gibbs and Associates merged with Cimatron Ltd., and is now operating as a wholly owned subsidiary. For more information about Gibbs and Associates and its CAM software packages, visit www.GibbsCAM.com or call 1-800-654-9399 (outside of North America: +1-805-523-0004).
With over 30 years of experience and more than 40,000 installations worldwide, Cimatron Ltd., or 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, enable collaboration with outside vendors, 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 under the symbol CIMT. For more information, visit http://www.cimatron.com.
The Gibbs logo, GibbsCAM, GibbsCAM logo, Virtual Gibbs, and "Powerfully Simple. Simply Powerful." are either trademark(s) or registered trademark(s) of Gibbs and Associates in the United States and/or other countries. Microsoft, Windows and the Windows logo are trademarks of the Microsoft group of companies. All other brand or product names are trademarks or registered trademarks of their respective owners.
Safe Harbor Statement
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 the company'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 Gibbs and Associates or 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 its filings with the Securities and Exchange Commission. The company cannot assess the impact of or the extent to which any single factor or risk, or combination of them, may cause. Gibbs and Associates and Cimatron undertake 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
Phone: +972 73 237 0114
Gibbs and Associates
Investor Relations contact:
Ehud Helft/Kenny Green
CCG Investor Relations
Tel: (US) 1 646 201 9246