GIVAT SHMUEL, Israel, and MOORPARK, California, January 3 - Cimatron Limited (Nasdaq: CIMT - News), a leading provider of integrated CAD/CAM solutions for the toolmaking and manufacturing industries, and Gibbs System, Inc., also known as Gibbs & Associates, developer of GibbsCAM®, software for programming CNC machine tools, today announced they have completed the merger of Gibbs into a newly established US subsidiary of Cimatron, as previously announced on January 2nd, 2008.
For more information about the merger, please see Cimatron's press release as of January 2nd 2008, which may also be found under the investors' section on Cimatron's website.
About Gibbs and GibbsCAM
For over 20 years, Gibbs System, Inc., more frequently known as Gibbs & Associates, has been a leader in providing cutting-edge CAD/CAM technology, while maintaining its signature ease-of-use and productivity increasing qualities. "Powerfully Simple. Simply Powerful." is the guiding philosophy at Gibbs. Gibbs believes in empowering the NC programmer, machinist, and manufacturing engineer, not eliminating them. Gibbs' goal is to introduce manufacturers to new technologies and new ways of working that makes their machining easier and their businesses more profitable. To achieve this goal, Gibbs creates tools that are naturally intuitive, graphically interactive, extremely visual, associative, and just plain enjoyable to use. Gibbs provides a total quality solution with the service and support successful customers require.
GibbsCAM is either offered or endorsed by a number of leading worldwide CNC controller and machine tool manufacturers. Gibbs provide solutions to Fortune 500 companies such as Boeing, Ford, General Dynamics, General Motors, Lockheed Martin and Raytheon and now reaches global markets. Gibbs & Associates distributes its products worldwide through a network of international Resellers.
For more information about Gibbs & Associates and its CAM software packages, please visit: http://www.gibbscam.com/.
With more than 25 years of experience and over 20,000 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. Cimatron's cutting-edge CAD/CAM solutions are widely used in the automotive, medical, consumer plastics, electronics, and other industries.
Founded in 1982, Cimatron is publicly traded on the NASDAQ exchange under the symbol CIMT. Cimatron's subsidiaries and extensive distributor network are located in over 35 countries to serve customers worldwide with complete pre- and post-sales support. For more information, please visit http://www.cimatron.com/.
Safe Harbor Statement
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.
Ilan Erez, Chief Financial Officer
Tel: +972-9-714-8866, +972-50-762-6215