Monday, Jun 16, 2008 5:00 AM
Givat Shmuel, Israel – June 16, 2008 – Cimatron Limited (NASDAQ: CIMT), a leading provider of integrated CAD/CAM solutions for the toolmaking and manufacturing industries, was named as one of the fastest growing CAM vendors.
The CAM market ranking was compiled by consulting and research firm CIMdata and published in the recently-released NC Software and Related Services Market Assessment Report.
According to a press release issued by CIMdata, "The rapid growth of Cimatron in 2007 and 2008 is a combination of improved organic growth and the acquisitions of Microsystem in 2007 and Gibbs and Associates in 2008."
CIMdata views Cimatron as "one of the industry leaders in the toolmaking software marketplace." Defining the merger of Gibbs with Cimatron as "a positive move", the CIMdata report goes on to explain: "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."
"The CIMdata report and ranking reflect the success of our growth strategy," said Danny Haran, Cimatron's President and Chief Executive Officer. "The 2007 results are attributed to our efforts to develop and launch competitive products for broader segments of the toolmaking and manufacturing sectors, as well as to the positive contribution of the Microsystem acquisition. We expect to see additional growth in 2008 based on the success of our product line and the merger with Gibbs and Associates, which enables us to better serve the global market through our joint distribution network."
Additional information about the CIMdata report can be found at http://cimdata.com/press/PR08-0603.htm.
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, 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.
To learn more about CIMdata's services, visit our website at http://www.cimdata.com/ or contact CIMdata at: 3909 Research Park Drive, Ann Arbor, MI 48108, USA. Tel: +1 (734) 668-9922. Fax: +1 (734) 668-1957. In Europe: Siriusdreef 17-27, 2132 WT Hoofddorp, The Netherlands. Tel: +31 (0)23 568-9385. Fax: +31 (0)23 568-9111.
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.