Givat Shmuel, Israel – March 14, 2011 – Cimatron Limited (NASDAQ and TASE: CIMT) announced today that its customer Dongfang Turbine Company has purchased additional licenses of CimatronE and GibbsCAM for the production of turbine blades.
Founded 30 years ago, Dongfang Turbine Co., a subsidiary of Dongfang Electric Company, is today one of the largest and most renowned manufactures of turbine blades in China, with an annual output of 25 million kilowatts. The company manufactures turbine blades for a wide range of renewable and non-renewable energy production facilities, including gas, nuclear, wind, thermal and hydroelectric turbines.
Recently the company has been noted as a major producer of the world's wind turbines. Dongfang is the third largest wind turbine supplier in China and one of the top ten wind turbine suppliers globally. Last year, Dongfang, in partnership with American Superconductor (AMSC), announced the joint development of 5 Megawatt full conversion wind power turbines for the worldwide offshore market. These are among the most powerful turbines in the industry and are expected to be ready in 2012.
Dongfang's recent success in the market comes despite the devastating 2008 Sichuan earthquake that cost the lives of talented engineers and severely damaged the blade production plant, threatening all of Dongfang's renewable and non-renewable energy equipment production.
When Cimatron China staff at the Chengdu office learned about the tragedy, they immediately mobilized and proposed to help the company. Cimatron China worked closely with Dongfang, providing significant technical resources, manpower and software without condition. Dongfang appreciated the ease of use that Cimatron solutions offered. With a need to train many engineers completely from scratch, it was crucial that they be able to start work as quickly as possible. Additionally, because CimatronE is an integrated CAD/CAM solution, it offered extremely powerful CAD capabilities in the CAM environment. The flexibility to perform various surface and solid modeling operations simplified the NC programming process when dealing with the root, shroud and hub of the blades.
So began the relationship between Cimatron and Dongfang, and Dongfang successfully supplied 800 wind turbines in 2008 despite the earthquake.
By the end of 2008, the company deployed CimatronE and GibbsCAM in its blade production facility, enjoying CimatronE's 5-Axis capabilities and GibbsCAM's lathe and MTM solutions.
With over 28 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 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 and the TASE under the symbol CIMT. For more information, please visit Cimatron's 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 Cimatron'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 Cimatron'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 cycles, new product development, assimilating future acquisitions, maintaining relationships with customers and partners, and increased competition. For more details about the risks and uncertainties related to Cimatron's business, refer to Cimatron's filings with the Securities and Exchange Commission. Cimatron 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 73 237 0298
Email: [email protected]
Chief Financial Officer
Phone: +972 73 237 0114
Email: [email protected]