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Financial Evaluation

            In 1990 Cymat, a materials technology company based out of Mississauga, Canada, was incorporated to develop specialized lightweight aluminum packaging and enclosures for the telecommunications and pharmaceutical industries. By 1995 Cymat had acquired the exclusive North American license to manufacture and sell Stabilized Aluminum Foam (SAF), under patents held by Alcan International Inc. Stabilized aluminum foam is a light weight aluminum alloy whose density can be changed (lighter or heaver) by substituting bubbles of air, in place of a percentage its alloy content. This same year, Cymat also gained the license to sell outside of North America under patents held by Norsk Hydro. .
             During the summer of 1998 Cymat built the world's first commercial SAF casting line, and by early 2000 appointed a new Chief Executive Officer, Chief Financial officer, and a complete research and development team. In 2001 Cymat processed its first commercial order, from Wilhelm Karmann Gmbh, an international, full-service automotive supplier based in Germany. In October of that same year Cymat began experimental work with NASCAR on developing strong, light-weight race car frames. Later that year Cymat acquired process patents for SAF from Norsk Hydro, covering the significant western and European countries including Hungary, Brazil, Japan, Russia, and South Korea. Hydro became a significant shareholder in Cymat and joined Cymat's Board of Directors. .
             Cymat is currently collaborating with a number of partners spanning the automotive, rail, oil and gas, marine and defense industries to develop applications for their product. Stabilized aluminum foam is considered to be a revolutionary material with a wide array of benefits. These benefits include a high strength-to-weight ratio, mechanical energy absorption, thermal and acoustic insulation, recyclability and relative low cost of production. One example is the replacement of box structures and heavy hardwood floors of railway cars and truck trailers.

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