Maintains a Strong Position in the Chinese Market With 80% Growth in Sales in 2006
"Cimatron's subsidiary in China achieved 80% revenue growth in 2006," said Danny Haran, Cimatron's President and CEO, in his comments on the company's recently announced financial results. "The Chinese market is the fastest growing market for Cimatron, and we continue to invest and expand our operation in this strategic market."
"The Chinese economy continues to expand at a rapid pace, and more tooling and manufacturing operations now realize the need for more advanced and productive CAD/CAM solutions," says Lang Yan, Cimatron's General Manager in China. "The new offices will enable us to better support our rapidly growing customer base and meet the increasing demand for Cimatron's solutions."
Earlier this month, Cimatron China hosted its annual Dealer Conference, an event that brought together the most senior representatives of Cimatron dealers around the country. Over twenty independent dealers are currently authorized to sell and support Cimatron's products in China.
The conference coincided with the launch of a new release of Cimatron's flagship product -- CimatronE 8.0 -- to the Chinese market. The new release has attracted much attention, with many local media representatives attending the event. A localized Chinese version of the product is scheduled to be released later this month.
Ira Bareket, Cimatron's Corporate Vice President of Sales and Marketing, attended the Dealer Conference and remarked: "This conference is a testament to Cimatron's commitment to the Chinese market. Manufacturing activity in the region continues to show strong growth, and local manufacturers are looking for ways to continue and compete in the global arena. It is important that we not only provide them with the technology they need, but also have local resources that can provide first class support to the growing number of manufacturers and toolmakers that are adopting Cimatron's solutions."
With more than 20,000 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. Cimatron's cutting-edge CAD/CAM solutions are widely used in the automotive, medical, consumer plastics, electronics, and other industries.
Founded in 1982, Cimatron is publicly traded on the NASDAQ exchange under the symbol CIMT. Cimatron's subsidiaries and extensive distributor network are located in over 35 countries to serve customers worldwide with complete pre- and post-sales support. For more information, please visit 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.
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