Donation helps students at McCann Technical School gain highly marketable skills and hands-on experience with leading tooling and manufacturing software
Novi, Michigan, USA - July 3, 2013 – Cimatron Limited (NASDAQ: CIMT) today announced that it is donating $900,000 worth of its CimatronE integrated tooling and manufacturing CAD/CAM software to the McCann Technical School in North Adams, Massachusetts.
A recent survey of tooling workshops in North America conducted by Cimatron shows the greatest challenge shops face—above and beyond any other challenge—is finding qualified workers.
According to Bill Gibbs, Cimatron's President North America, the industry as a whole must step up its effort to address this challenge. "This donation continues a long tradition of collaboration with educational institutions such as McCann Technical School, which play a critical role in preparing the next generations of the industry's skilled workforce."
The CimatronE software will be used by students in McCann's Computer Assisted Design (CAD) and Machine Technology programs. "Students will benefit from the ability to learn faster and become more productive working with state-of-the art software," said Thomas Matuszak, McCann's CAM instructor and a former toolmaker. "CimatronE's integrated CAD/CAM software will allow students to experience first-hand how designs transform into actual tools and parts. We plan on using CimatronE as the primary platform for our students from now on."
McCann Tech maintains close relations with area tools shops, among them Marland Mold and Starbase, both CimatronE customers. According to Matuszak, these shops will benefit from the Cimatron training program by having a supply of trained graduates as well as access to offsite training facilities for existing employees.
"We are preparing our students to be significant contributors to the manufacturing economy and provide good middle-class jobs and wages for their families and our community," said Northern Berkshire Vocational Regional School District Superintendent, James Brosnan. "Manufacturing today is all about speed, so training students on software that enables them to be more productive is a real asset to them, to their future employees, and to the industry."
About McCann Technical School
McCann is one of the oldest technical schools in Massachusetts. Opened in 1962, the school enjoys high recognition in the business community. The school's programs are aligned with national standards and credentials, offering high levels of academic studies and technical training in a variety of programs. The hands-on training allows McCann graduates to be successful in their next steps, whether it's engineering school or joining the work force, where they can find excellent-paying jobs. For more information, visit http://www.mccanntech.org.
With more than 30 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 under the symbol CIMT. For more information, 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 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:
Chief Financial Officer
Phone: +972 73 237 0114
Investor Relations contact:
Ehud Helft/Kenny Green
CCG Investor Relations
Tel: (US) 1 646 201 9246
Idit Pass Lagziel
Phone: +972 73 237 0298