Tuesday, Feb 22, 2011 4:00 AM
Givat Shmuel, Israel – February 22, 2011 – Cimatron Limited (Nasdaq: CIMT), a leading provider of integrated CAD/CAM solutions for mold, tool and die makers as well as manufacturers of discrete parts, announced that leading Korean industrial supplier ShinHeung Precision Co. Ltd., as well as four other major suppliers of Samsung, LG, Hyundai, Sony, Toshiba and other known brands, have successfully adopted CimatronE 3D technology for the design of their press tools.
For many years, ShinHeung Precision has mastered the use of 2D CAD systems for designing press tools and delivering LCD chassis for Samsung's PC and TV monitors at incredibly short lead times. Rapid product innovation cycles at Samsung and the need to reduce the time to market of their products have presented a challenge for ShinHeung Precision to deliver even faster.
The implementation of CimatronE's 3D Die Design CAD system enabled ShinHeung Precision to improve its overall engineering process, reduce lead time by over 20% and reduce the costs associated with trial runs and iterations of its press tools.
It was not long before the news spread amongst the four other leading OEM suppliers of Samsung- Dong-O, DongJin, HAEM and DK Industry- who have all adopted CimatronE die design, paving the way for CimatronE to become a new standard in the Korean industry for the design and production of advanced precision components.
"We have been using CimatronE for nearly two years now" said Jong-Ho Park, Senior Director of ShinHeung Precision. "Changing from our extremely rapid 2D design methods to CimatronE 3D system seemed cumbersome at first. However, we soon realized that CimatronE was not only a powerful design system for die makers like us, but also provided us with higher quality and more accurate design, resulting in reduced need for correction and iteration of the tools we produce. This enabled us to significantly improve the efficiency and productivity of our overall design to manufacturing cycle. Consequently, we now save costs and deliver faster, so our customers are happier and our business is happier."
With over 28 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, 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 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