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NORTHRIDGE, CA--June 5, 2001 - Soligen Technologies, Inc. (OTC BB:SGTN), a rapid
manufacturer of cast metal parts, today announced an agreement naming Autotech
Technology Development, Inc., a subsidiary of Kenmar Corporation, as its Sales
and Marketing partner for Automotive and Powertrain applications. "We believe
that Autotech's knowledge of the North-American automotive design and manufacturing
community will prove to be an important asset in Soligen's future growth. As
a subsidiary of Kenmar Corporation, this partnership provides Soligen access
to a very successful sales force throughout the global automotive industry.
We are looking to substantially increase our exposure within our primary markets,"
said Yehoram Uziel Soligen's founder and CEO.
Soligen's proprietary casting technology enables the company to rapidly produce three-dimensional ceramic casting molds directly from Computer Aided Design files, thus shaving weeks off production time for cast metal parts. Soligen has also been producing production tooling for larger runs of metal casting from the same CAD file as the approved part.
"The process has particular merit in the manufacturing of automotive
powertrain components," said Frederick Nader, president of Autotech. "With
this technology, Soligen is positioned to provide a true revolution in reducing
costs and improving performance in the production of critical cast metal engine
parts. The speed and efficiency of Soligen's casting process is especially important
given recent industry-wide efforts to reduce the time required by automakers
to produce new models. Using Soligen's technology, we believe that the time
from initial design to production can be reduced by 50 percent," concluded
Mr. Nader.
Highlights of Soligen's technology:
Soligen is able to rapidly manufacture cast metal parts, bypassing the traditional need for tooling, by employing Soligen's DSPC® technology. The DSPC technology is a proprietary fabrication process for metal parts that produces ceramic molds for metal castings directly from a CAD file. Consequently, it enables postponement of design and the fabrication of expensive and time consuming casting tooling until after the parts are functionally tested, thus increasing the probability of making production tooling once and correctly on the first attempt. Additionally, Soligen rapidly produces production tooling for larger runs of metal castings from the same CAD file as the approved part. By combining three key production elements: DSPC® technology, conventional casting methods, and Computerized Numerical Control (CNC) machining practices, the Company has created the first "one stop shop" for functional metal parts that are made directly from a CAD file and that are ready for assembly. This complete service, trademarked as Parts Now®, has become a single source for rapidly manufactured metal parts. In 1999 Soligen was ranked No. 5 by Deloitte & Touche's "Fast 50 Program," which lists the 50 fastest growing technology companies in Southern California.
DSPC® and Parts Now® are registered trademarks of Soligen.
Except for the historical information herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based on a number of factors, including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product demand, the impact of competitive products and pricing, changing economic conditions, both here and abroad, timing of development and release of new products by strategic suppliers and customers, the effect of the Company's accounting policies and other risk factors detailed in the Company's most recent annual report and other filings with the Securities and Exchange Commission.
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| Contact: | |
Frederick Nader of Autotech |
Gary Kanegis, VP Sales, of Soligen |
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(818) 718-1221 ext. 241 |