Givat Shmuel, Israel – February 5, 2014 – Cimatron Limited (NASDAQ: CIMT) today announced the launch of the ECO Manager, a major feature in CimatronE 11, the latest version of its integrated CAD/CAM software solution. CimatronE provides specialized CAD capabilities for the design of molds, dies, and fixtures, as well as NC programming for the machining of molds, dies, and discrete parts.
"Engineering change orders (ECOs) are part and parcel of almost any tool shop job schedule," said Mr. Ira Bareket, Cimatron's VP Sales, and Marketing. "For example, a recent Cimatron survey of North American tool shops found that 94% of shops handle at least one job with ECOs out of every 10 jobs worked on.
"ECOs can become a cost burden or can turn into a profitable business if handled and managed properly. However, shops often find the process of handling ECOs to be challenging, particularly when there are many changes and the part is complex. The mold designer is faced with the difficult task of identifying the geometry the customer has changed, understanding ‘what's going on' and assessing the impact on previous work the designer has already undertaken.
"Implementing the changes quickly and efficiently is the next task for the designer. This is particularly challenging given that the designer is trying to avoid redoing previous work that is unaffected by the ECO.
"Finally, the mold designer is faced with the challenging task of controlling, managing and documenting the ECO process for internal costing purposes, as well as for communicating the work to the customer who ordered the change.
"Cimatron's new ECO Manager provides mold designers with powerful tools and processes to handle ECOs in the quickest and most effective manner possible.
"The ECO Manager assists shops in controlling the fundamental ECO processes, including identification and analysis, implementation, tracking, and documentation. It can be used by shops at any stage of a job and can handle multiple ECOs, no-matter how complex."
Key capabilities of the ECO Manager include:
? Identification and analysis – The CimatronE ECO Manager clearly pinpoints the geometry that the customer has changed, as well as showing the ways in which the ECO has impacted the mold components.
? Implementation – The application gives users automated tools to replace the existing geometry with the new geometry (ECO) in the relevant areas.
? Verification – Within the dedicated ECO environment, ongoing verification checks can be performed to ensure that the user has implemented all the necessary changes correctly.
? Tracking and Documentation – A series of comparisons between each pair of consecutive ECO parts creates a live archive of the change history. Changes are also documented, with the user able to attach documents, and add descriptions, work status and pictures for the purposes of internal reports, costings, and communication with customers.
For a complete list of CimatronE 11's capabilities, visit here.
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 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 a 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