Cimatron incorporates largest GibbsCAM reseller in Germany into Cimatron and adds a sixth office to its nationwide network
Givat Shmuel, Israel – February 17, 2009 – Cimatron Limited (Nasdaq: CIMT), a leading provider of integrated CAD/CAM solutions for mold, tool and diemakers as well as manufacturers of discrete parts, announced that it has incorporated the team of Data Technik Reitz (DTR), the leading German reseller of its machining software, GibbsCAM (marketed in Germany under the name Virtual Gibbs) into Cimatron GmbH.
According to the new arrangement, Mr. Andreas Reitz, the founder and General Manager of DTR, has joined Cimatron along with DTR's employees. DTR's office in Breidenstein will now be added to the established Cimatron network already present in Ettlingen, Hamm, Ismaning, Cologne, and Nuremberg. The Virtual Gibbs product is now actively sold and supported through all the Cimatron GmbH offices.
"We are very excited to join the highly regarded network of Cimatron Group in Germany" said Andreas Reitz, founder and General Manager of DTR. "Cimatron provides a well established technical and commercial infrastructure that will provide Virtual Gibbs a platform for growth and expansion in Germany".
"We are very happy to welcome the DTR team and their customers into the Cimatron Family" said Dirk Dombert, Managing Director of Cimatron GmbH. "Mr. Reitz and his team have been very successful introducing Virtual Gibbs into the German market. It is now time to capitalize on this success and take the Virtual Gibbs business in Germany to the next level. Virtual Gibbs is an excellent product that allows us to widen the spectrum of our offering into additional manufacturing segments of the German market. The addition of the DTR team into Cimatron GmbH enables us to expand without affecting the success we have with CimatronE."
"When Cimatron and Gibbs first merged just over a year ago, we envisioned the potential of leveraging these two complementary solutions and their respective distribution channels to grow our overall market share," said Ira Bareket, Vice President of Sales and Marketing of Cimatron Group. "The incorporation of the DTR team into Cimatron is an example of the unleashing of this potential in one of our leading territories. I am thrilled by the instant expansion of our German operation that will help us achieve maximum customer satisfaction and potential revenue growth in Germany in the shortest possible time."
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/
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.