GIVAT SHMUEL, Israel, March 6, 2013 /PRNewswire/ --
Cimatron Limited (NASDAQ: CIMT & TASE: CIMT), announced today that its Board of Directors has approved the establishment of a 3D Printing Advisory Board, and named industry expert Terry Wohlers as its first member.
"The creation of a 3D printing advisory board, and Mr. Wohlers' appointment to it, is aimed at accelerating Cimatron's efforts in entering the additive and hybrid manufacturing field," said Mr. Danny Haran, Cimatron's President and CEO. "We are pleased and honored to have Mr. Wohlers on board, and believe that his wide experience and knowledge of this fast emerging industry will assist us in identifying ways in which we can further our efforts to serve the global manufacturing market as effectively and innovatively as possible."
Terry Wohlers has been a leading authority on 3D printing technology for over two decades. His Colorado-based company, Wohlers Associates, Inc., http://wohlersassociates.com, provides technical and strategic consulting on the new developments and trends in rapid product development, additive manufacturing, and 3D printing, and has provided advice and assistance to over 200 organizations in 24 countries. Mr. Wohlers is also a public commentator on the 3D printing industry, having served as a keynote speaker at nearly 100 conferences worldwide and interviewed extensively as an industry expert across countless print and electronic media.
"Cimatron has long been a strong player in the CAD/CAM software market, and it is only natural for the company to leverage its knowledge of manufacturing software solutions by exploring opportunities in 3D printing," said Mr. Wohlers.
"By 2015, we believe the 3D printing industry will be worth $3.7 billion, and a successful deployment by Cimatron in this market will provide it strong potential for growth," Wohlers explained. "I am honored to have been selected as part of Cimatron's pioneering efforts in this regard and I look forward to working closely with Cimatron's management team and Board of Directors."
With over 30 years of experience and more than 40,000 installations worldwide, Cimatron is a leading provider of integrated, CAD/CAM software solutions for mold, tool and die makers as well as manufacturers of discrete parts. Cimatron is committed to providing comprehensive, cost-effective software solutions that streamline manufacturing cycles and ultimately shorten product delivery time.
The Cimatron product line includes the CimatronE and GibbsCAM brands with software solutions for mold design, die design, electrode design, 2.5 to 5 Axis 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
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 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:
Chief Financial Officer
dit Pass Lagziel
Investor Relations contact:
Ehud Helft/Kenny Green
CCG Investor Relations
Tel: (US) +1-646-201-9246
Email : Cimatron@ccgisrael.com
SOURCE Cimatron Ltd