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By: AllPennyStocks.com
Even in the dying days of a recession, as some of the economic gloom is lifting,
there are many lucrative contracts out there to be had, particularly at the
hands of military organizations throughout the world. One company that took
advantage of one of these contracts is Toronto-based Cymat Technologies Ltd. (TSX:CYM),
which as December began, announced it had delivered two prototype orders from a
major U.S.-based original equipment manufacturer of light vehicles.
CYM is the maker of SmartMetal(TM) products, which will be integrated into a
survivability solution for vehicle underbelly protection. SmartMetal has been
designed to accommodate both existing vehicles through an aftermarket retrofit
kit, and new OEM vehicle production. It could be a stepping stone to
opportunities among other NATO nations, seeking vehicles of this type.
In business since 1990, it was in 2000 that CYM was reorganized to focus
exclusively on commercializing Standard Aluminum Foam (SAF), having sold the
world’s first commercial SAF casting line only two years before. The company
added some clout to its board of directors this year, with the naming of retired
Canadian Armed Forces General Lew Mackenzie, best known for his exploits at the
helm of Canadian troops in the former Yugoslavia.
In November – appropriately enough, on the eve of Remembrance Day – CYM
announced a joint initiative between an independent military vehicle integrator
and a major U.S. armoured vehicle OEM. SmartMetal™ will be incorporated into a
next-generation vehicle as part of a comprehensive survivability solution.
Prototype parts for this initiative are being delivered through the fall of this
year with validation testing anticipated to be completed by the end of December.
CYM, which develops innovative materials for industry, has worldwide rights,
through patents and licenses, for producing SAF, an ultra-light metallic foam
made by bubbling gas through molten alloyed aluminum containing a dispersion of
fine ceramic particles and can be produced as either Near-net Shapes or Flat
Panels. The result is a revolutionary material with a wide array of features
including very low density, mechanical energy absorption, thermal and acoustic
insulation, is recyclable, time and temperature insensitive and has a relatively
low cost of production.
The news of the contract with the American agency – and the prospects for
several others worldwide – sent CYM stock rubbing up against its 52-week high of
34.5 cents, which was achieved in late September, in contrast to its four-cent
gully just before Christmas. The stock was just under the 30-cent mark as
December dawned.
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