Donation will help students gain sought-after skills to fill the growing need for highly trained manufacturing workers
Novi, Michigan - December 1, 2014 - Cimatron Technologies Inc., a subsidiary of Cimatron Limited (NASDAQ: CIMT), is donating software valued at over $1.7 million to Southeastern Community College (SCC) in Iowa. The CimatronE software—a CAD/CAM solution for mold, tool and die makers as well as manufacturers of discrete parts—will be used to provide training for students in design and advanced manufacturing.
Donation Helps Meet the Talent Needs of Manufacturers
It is one of the largest donations to SCC and will provide the foundation for training students from high school through college to meet the increasing demand for manufacturing expertise by companies in Iowa. The region is home to such industries as energy, pharmaceutical, food processing, and plastics. The donation was facilitated by the Lee County Economic Development Group, a private/public partnership to foster development and employment in the county.
Cimatron Sees Iowa as a Key Manufacturing Location
"This donation, along with another donation to North Iowa Area Community College last year, underscores the importance Cimatron places on growing the manufacturing industry in Iowa and throughout North America," said Bill Gibbs, Cimatron North America President. "The demand for skilled CAD/CAM workers is the number one challenge that comes up in every conversation we have with customers as well as in a survey of toolmakers and manufacturers we conducted last year."
Training on CimatronE software for mold, die making, and manufacturing will be part of the curriculum for Associate of Applied Science in Computer Assisted Drafting and Advanced Manufacturing degrees. "This will elevate the status of SCC among prospective students and employers as a college on the cutting edge of CAD/CAM," said Michael Ash, the president of SCC.
The State of Iowa Invests in Manufacturing
"In Iowa, manufacturing is big business. In fact, the percentage of the state's GDP derived from manufacturing has consistently ranked in the top 10 in the country," said Debi Durham, the director of the Iowa Economic Development Authority (IEDA). "The advanced manufacturing sector is so strong in Iowa because the public and private sectors work together to ensure conditions are favorable for growth. Keeping Iowa's community colleges equipped with leading edge technology is an essential part of training the next generation of highly skilled workers who are sought by Iowa's manufacturers to support future growth."
With over 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 software solutions for mold design, die design, electrode design, 2.5 to 5 Axis 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, please visit Cimatron's web site at: http://www.cimatron.com
About Southeastern Community College
Southeastern Community College has been a vital part of our region since 1920. We have touched the lives of over 100,000 people since then. SCC's top priority is to provide affordable, high quality education and facilities for students in the Great River Region. For more information, see www.scciowa.edu.
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
Idit Pass Lagziel
Phone: +972 73 237 0298
Investor Relations contact:
Ehud Helft/Kenny Green
GK Investor Relations
Tel: (US) 1 646 201 9246