Monday, Jun 15, 2009 5:00 AM
Givat Shmuel, Israel – June 15, 2009 – 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 it was identified as the fastest growing CAD/CAM provider in 2008 according to report by prominent market research firm CIMdata.
According to CIMdata's NC Software and Related Services Market Assessment, Cimatron's growth in 2008 was 45.6%, making Cimatron the sixth largest CAD/CAM provider globally.
Cimatron's revenue increased by over 12 Million USD compared with 2007 revenue. CIMdata credited the growth to the merger with Gibbs and Associates, among other factors.
Gibbs and Associates, developers of GibbsCAM software merged into Cimatron in January 2008.
Mr. Alan Christman, Chairman of CIMdata, wrote: "CIMdata believes that the merging of Gibbs with Cimatron is a positive move. The companies are very complementary to one another in product, markets pursued, and distribution channels. It brings together the CimatronE integrated CAD/CAM suite focused on toolmaking with GibbsCAM—which is focused on production machining to provide a more complete product portfolio for the manufacturing industry. Cimatron was a company with about twice Gibbs' current sales volume and very little product or distribution overlap. CIMdata believes that as a combined entity, they are better positioned to increase their presence in the CAD/CAM market with increased resources for product development, sales, and marketing. The combined product offering strengthens Cimatron's market position, with the ability to deliver products targeting all segments of the CAM market, from mold and die making, through 2.5-axis and 5-axis production, to mill-turn and multi-tasking machining (MTM). Moreover, the combined distribution networks of CimatronE and GibbsCAM complement each other and provide excellent coverage of all target markets worldwide, including a strong presence in North America, Europe, and Asia Pacific. "
"We are pleased to be recognized by CIMdata for the rapid growth in 2008 and for the overall stronger market position of Cimatron", said Danny Haran, President and CEO of Cimatron Group. "We took advantage of every opportunity the Gibbs merger afforded us. We now cater to a much broader customer base and our stronger global presence has allowed us to provide better services to our customers worldwide, with CimatronE and GibbsCAM alike."
As well as pointing out Cimatron's growth of the last year, CIMdata analysts confirmed that Cimatron was one of 5 vendors ranked among the top 10 in every geographical region.
CIMdata also praised CimatronE's electrode solution, one of the strongest available on the market, and identified Cimatron as one of the companies most dedicated to customer services and technical support.
With over 25 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, 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 (MTM), 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 is publicly traded on the NASDAQ exchange under the symbol CIMT. For more information, please visit the company web site at: http://www.cimatron.com
CIMdata, a leading independent worldwide firm, provides strategic consulting to maximize an enterprise's ability to design and deliver innovative products and services through the application of Product Lifecycle Management (PLM). CIMdata works with both industrial organizations and suppliers of technologies and services seeking competitive advantage in the global economy by providing world-class knowledge, expertise, and best-practice methods on PLM solutions.
CIMdata helps industrial organizations establish effective PLM strategies, identify requirements and select PLM technologies, optimize their operational structure and processes to implement solutions, and to deploy these solutions.
For PLM solution suppliers, CIMdata helps define business and market strategies, delivers worldwide market information and analyses, provides education and support for internal sales and marketing teams, as well as overall support at all stages of business and product programs to make them optimally effective in their markets.
CIMdata provides world-class knowledge, expertise, and best-practice methods on PLM solutions. These solutions incorporate both business processes and a wide-ranging set of PLM enabling technologies including product data management (PDM), visualization, collaboration, digital manufacturing, computer-aided design/manufacturing (CAD/CAM), and numerical control (NC). CIMdata also provides expertise in the integration of PLM with other business solutions such as customer relationship management (CRM), supply chain management (SCM), and enterprise resource planning (ERP).
In addition to consulting, CIMdata conducts research, provides PLM-focused subscription services, and produces several commercial publications. The company also provides industry education through international conferences in North America, Europe, and the Pacific region.
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 the company'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 the 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 Cimatron products and services, long sales cycle, new product development, assimilating future acquisitions, maintaining relationships with customers and partners, and increased competition. For more details about the risks and uncertainties of the business, refer to the Company's filings with the Securities and Exchanges Commission. The company 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.