Report Ranks Cimatron as Second Fastest Growing CAM Company in 2007
GIVAT SHMUEL, Israel, June 16 /PRNewswire-FirstCall/ -- Cimatron Limited (NASDAQ: CIMT), a leading provider of integrated CAD/CAM solutions for the toolmaking and manufacturing industries, was named as one of the fastest growing CAM vendors.
The CAM market ranking was compiled by consulting and research firm CIMdata and published in the recently-released NC Software and Related Services Market Assessment Report.
According to a press release issued by CIMdata, "The rapid growth of Cimatron in 2007 and 2008 is a combination of improved organic growth and the acquisitions of Microsystem in 2007 and Gibbs and Associates in 2008."
CIMdata views Cimatron as "one of the industry leaders in the toolmaking software marketplace." Defining the merger of Gibbs with Cimatron as "a positive move", the CIMdata report goes on to explain: "The companies are very complementary to one another in product, markets pursued, and distribution channels. It brings together the CimatronE integrated CAD/CAM suite focused on toolmaking with GibbsCAM-which is focused on production machining to provide a more complete product portfolio for the manufacturing industry."
"The CIMdata report and ranking reflect the success of our growth strategy," said Danny Haran, Cimatron''s President and Chief Executive Officer. "The 2007 results are attributed to our efforts to develop and launch competitive products for broader segments of the toolmaking and manufacturing sectors, as well as to the positive contribution of the Microsystem acquisition. We expect to see additional growth in 2008 based on the success of our product line and the merger with Gibbs and Associates, which enables us to better serve the global market through our joint distribution network."
Additional information about the CIMdata report can be found at http://www.cimdata.com/press/PR08-0603.htm.
About Cimatron
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.
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