Givat Shmuel, Israel – May 3, 2010 – 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 CAD/CAM specialist MyGrowTech Sdn.Bhd has been authorized as an official reseller and technical support provider for Singapore, Malaysia and Thailand.
MyGrowTech, a new company founded by engineers with over 10 years of experience in the manufacturing software industry, now offers sales, support and training for both of Cimatron’s main product lines, CimatronE and GibbsCAM.
"The addition of MyGrowTech to our distribution network in South East Asia marks the introduction of GibbsCAM to Singapore, Malaysia and Thailand, and greater support and reach for CimatronE,” said Kobi Rosenwasser, Cimatron’s VP for Asia Pacific. “We are confident that expansion in our network will result in a greater customer base for both of our product lines, in areas of Asia where demand is increasing rapidly.”
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's shares are publicly traded on the NASDAQ exchange under the symbol CIMT. For more information, please visit the company 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 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 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 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. 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 3 5312098
Chief Financial Officer
Phone: +972 3 531 2121