Cimatron Group Recognized in Deloitte's Fast 50 AwardsGIVAT SHMUEL, Israel, October 5, 2011 — (PRNewswire) —
Cimatron Limited (NASDAQ and TASE: CIMT) has been ranked as one of Israel's top 50 growing technology companies in 2011 in the Deloitte Technology Fast 50 Awards.
"It is uncommon to find a 30-year old company like Cimatron on the listing of the 50 fastest growing companies, and we are very proud of our achievement," said Danny Haran, Cimatron's CEO and President. "We hope to be able to continue to offer more value to both our customers and our shareholders through continued innovation and business development efforts."
The Deloitte Technology Fast 50 Awards rank the country's 50 fastest-growing technology companies based on percentage growth over five years. Cimatron's inclusion in the ranking was announced last week at the Fast 50 awards ceremony in Tel Aviv.
Over the past five years, Cimatron has seen a 68% increase in revenues through a combination of organic growth and M&A activities. The company has entrenched its presence in Europe through the acquisition of Microsystem in Italy and has expanded its global market presence and product offering through its merger with Gibbs & Associates, a U.S. company.
With over 28 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 solutions that streamline manufacturing cycles 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's shares are publicly traded on the NASDAQ exchange and the Tel Aviv Stock Exchange under the symbol CIMT. For more information, please visit Cimatron's 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 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:
Idit Pass Lagziel
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Chief Financial Officer
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SOURCE Cimatron Ltd