Tuesday, Mar 6, 2012 4:00 AM
President/CEO Mr Danny Haran anticipates an exciting future for the company
Givat Shmuel, Israel – March 6, 2012 – Cimatron Limited (NASDAQ and TASE: CIMT) has kicked off its celebrations marking 30 years as a leader in the CAD/CAM software field with Mr Danny Haran, Cimatron's President and CEO, issuing the following statement:
"Operating as a successful business continuously for 30 years is an achievement by any standard. However, it is not simply Cimatron's longevity that is impressive, but also its ability to remain an industry leader throughout its entire lifespan.
"Cimatron was one of the first to realize the potential offered by the emerging computer aided design and manufacturing technologies in the early 1980s. While the field was still in its infancy, we pioneered CAD/CAM software solutions that were revolutionary for their time.
"Over the years we've been at the forefront of innovation. We developed the world's first integrated CAD/CAM software, the world's first CAD/CAM software for the PC, the world's first electrode solution, the world's first application for micromilling, and the world's first toolpath calculation acceleration device.
"These firsts are merely the tip of the iceberg in terms of Cimatron's significant overall contribution to the CAD/CAM field. Many of us remember how, in the 1970's, producing a quality mold or die tool could take months. Today, production takes a few weeks or even days thanks to the technology pioneered by us and other companies. As we enter our fourth decade of innovation, we are constantly looking at ever more innovative ways to help our customers reduce their manufacturing times, improve their product quality and increase their profitability, and I am very excited about our future plans in this respect.
"Our contribution to the machining field has also been significant. As demand for speed and accuracy grows, we see increasing numbers of part manufacturers introducing Multi Tasking Machines to their workshops. While these machines save set-up time and increase accuracy and productivity, they are extremely complex to program efficiently. Our GibbsCAM software is among the world's very few CAM solutions capable of powering these machines, supported by thousands of post processors. We see a great potential in the MTM market and look forward to introducing more innovations in this field over coming years.
"Our pace of innovation over the past three decades has been matched by a growth in our profitability levels – some of the highest in the industry – and a significant expansion in our customer base that today exceeds 40,000 installations, across more than 40 countries.
"An important element in our success over the years has been our many customers and business partners whose loyalty and support have been instrumental to our high levels of performance and profitability. We especially value their high expectations of us as these have helped drive our ongoing commitment to innovation.
"I also salute our committed staff at our offices worldwide, and across our R&D, QA, sales and marketing, finance and administration divisions. They are undoubtedly one of the most dedicated and professional workforces in the industry.
"Thank you to all those who have participated in this three decades-long journey. It is far from over however, as we intend to continue it for the next 30 years and well beyond."
For a brief history of Cimatron, visit our website.
With 30 years of experience and more than 40,000 installations worldwide, Cimatron is a leading provider of integrated, CAD/CAM 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, electrode design, 2.5 to 5 Axis 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 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:
Idit Pass Lagziel
Phone: +972 73 237 0298
Chief Financial Officer
Phone: +972 73 237 2114