Givat Shmuel, Israel – July 10, 2008 – Cimatron Limited (NASDAQ: CIMT), a leading provider of integrated CAD/CAM solutions for the toolmaking and manufacturing industries, announced that Microsystem Srl., its Italian subsidiary, is now selling and supporting the GibbsCAM advanced machining software solutions in Italy.
The Italian subsidiary is joining other Cimatron subsidiaries and representatives around the world in offering the GibbsCAM solutions, following the merger of Cimatron and Gibbs and Associates earlier this year. Microsystem has a strong presence in the Italian market, with over twenty years of delivering best-in-class solutions to thousands of Italian manufacturers. Microsystem's headquarters are located in Bologna, with additional sales and support offices in Italy's main industrial centers, including Milan, Treviso and Ancona.
GibbsCAM solutions provide a broad range of CNC programming capabilities for milling, turning, mill-turn, rotary milling, tombstone-fixtured, wire-EDM, and multi-turret/multi-spindle machining. Modeling functionality tuned specifically for manufacturing supports the creation and manipulation of wireframe, surface, and solid geometries.
Featuring an intuitive user interface, built-in associativity, and simulation capabilities, GibbsCAM empowers manufacturers to increase productivity and elevate responsiveness to customer requirements and design changes.
GibbsCAM supports controllers and machine tools from leading vendors including GE Fanuc, Infimatic, Siemens, Doosan Infracore, Haas, Index, MAG Fadal, Matsuura, Mazak, Mitsubishi, Mori Seiki, Nakamura Tome, and Tornos.
"Microsystem is a great match for GibbsCAM," said Ira Bareket, Vice President of Sales and Marketing, Cimatron. "Over the last two decades Microsystem has established a dominant position for CimatronE CAD/CAM solutions among Italian toolmakers. Their knowledge of the industry and strong position with Italian manufacturers make them an ideal channel for selling and supporting the broad range of GibbsCAM solutions."
"The GibbsCAM solutions can help Italian manufacturers of discrete parts compete more effectively both locally and in the global marketplace," said Microsystem's President Enrico Gardini. "GibbsCAM's reputation in production, especially in multi-task machining, is rapidly growing in Italy and the rest of Europe and we look forward to playing a key part in GibbsCAM's expansion."
During July, Microsystem will hold a series of seminars in four cities across Italy to introduce the GibbsCAM solutions:
10 July: Calderara di Reno (Bologna)
11 July: Chieti
15 July: Treviso
17 July: Milan
For more information about these seminars, please contact the Italian Head Office:
Via Carlo Collodi 1
40012 Calderara di Reno (BO)
Tel: +39 051 4145611
Fax: +39 051 725314
Microsystem is a well-established supplier of software solutions for the Italian manufacturing industry. Microsystem started distributing CAD/CAM systems in 1984, subsequently broadening its offering to cover all phases of the design and manufacturing cycle. With headquarters in Bologna and offices in Ancona, Milan and Treviso, Microsystem provides customers with best-in-class manufacturing solutions and superior technical support. In July 2005 Cimatron acquired 27.5% of the shares of Microsystem and in July 2007 Cimatron increased its holdings to 51%.
With over 25 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, enable collaboration with outside vendors, 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 is publicly traded on the NASDAQ exchange under the symbol CIMT. For more information, please visit the company web site at: http://www.cimatron.com/
About Gibbs and Associates and GibbsCAM
For over 20 years, Gibbs and Associates has been a leader in providing cutting edge CAD/CAM technology, while maintaining its signature ease-of-use and productivity. 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.
In January 2008, Gibbs and Associates merged with Cimatron Ltd, (NASDAQ: CIMT) and is now operating as a Cimatron company. For more information about Gibbs and Associates and its CAM software packages, call 1-800-654-9399, or visit the company on-line at http://www.GibbsCAM.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 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.