Manufacturers Including Ingersoll Rand, York International and Siemens AG Rely
on PTC To Manage Challenges Facing Industrial Markets
NEEDHAM, Mass., Feb. 23 /PRNewswire-FirstCall/ -- PTC (Nasdaq: PMTC), the
product development company(TM), is expanding its presence in the industrial
equipment industry with significant recent sales and implementations to
companies concentrated in Heavy Equipment, Industrial Machinery, Automation &
Control Equipment and Power Generation & Distribution Equipment sectors and
their respective supply chains.
PTC now has an installed base of over 6000 Industrial Equipment customers
thanks to a suite of solutions that address the issues confronting that market
sector. These include AGCO, Ingersoll Rand, Manitowac Crane, Timken, York
International, Masco, Copeland, Rexnord, Komatsu, Mitsubishi-Hitachi Metals,
Yonetany Die and Mold, Knorr-Bremse, Dalian Machine Tool Group and Siemens AG.
"With today's tight economy and excess capacity, reducing product and
manufacturing costs are critical to the survival and success of our industrial
clients, especially for manufacturers of large Power Generation Equipment,
Machine Tools, and Heavy Equipment," says Bill Berutti, Senior Vice President
of Marketing and Strategy at PTC.
"Our solutions help clients increase design reuse and develop higher
quality, lower cost products by involving the supply chain in the design or
re-design process. Furthermore, Industrial Machinery manufacturers and Power
Generation component suppliers are interested in tools that help them respond
to RFPs faster, and more accurately. This is especially a challenge because
they need to work with outside parties to deliver a winning bid response."
Many US and European based Heavy Equipment and Machinery manufacturers are
moving design and/or manufacturing to multiple global locations to achieve the
competitive advantage of 'design-anywhere, build-anywhere' flexibility," adds
Abe Chaves, PTC Director of Industrial Equipment Market Development. "This
requires consistency of design data across manufacturing plants and flawless
supply chain collaboration and coordination."
"Design Anywhere, Build Anywhere" now a reality at Ingersoll Rand
"We can make the make/buy decision literally at a moment's notice. This
enables us to meet our design-anywhere, build-anywhere directive," says George
Ashley of Ingersoll-Rand, a leading diversified-industrial firm, in a recent
case study. Ingersoll Rand is using PTC(R) Solutions to leverage engineers
around the world, allowing them to work collaboratively with manufacturing and
suppliers, enabling true "Design Anywhere, Build Anywhere, 24-7."
In another case study example, York International, the largest independent
supplier of heating, ventilating, air-conditioning, and refrigeration
equipment in the United States, provided the best product in its class at the
lowest cost in the industry by redesigning an existing product more
efficiently. York partnered with PTC to make their Modular Design initiative
possible.
"Compared to our other software package, we cut our costs in half with PTC
Solutions. Saving 90 percent in design changes was due completely to the
inherent qualities of Pro/ENGINEER(R)," said Talford Perkins of York
International.
AGCO boosts efficiency and reduces cost with PTC's PLM
AGCO, one of the world's largest manufacturers, designers and distributors
of agricultural equipment which promotes business in more than 140 countries
through more than 8,000 dealers, is using PTC's integral PLM environment
globally to create digital product models, collaborate globally in the
development of products and manage and control the product development process
throughout the products' lifecycle. This approach increases efficiency and
reduces overall product development costs.
"Windchill ProjectLink(TM) has allowed us to extend collaboration
throughout the non-CAD part of our organization as well as to our customers
and everyone else on the project team," notes Steven Scally of Babcock Power
Inc., a leading worldwide supplier of fully integrated environmental solutions
for utility power plants, waste-to-energy facilities and large industrial
applications. "Windchill ProjectLink really fits in well because it helps us
manage information better. The latest information is right at your
fingertips. Everyone has a single repository to check on things. And it's
all Web-based, which is another aspect that we really like because we have a
lot of dispersed project team members, customers and vendors. They need a
platform that goes with them wherever they go."
PTC global study to further define how industrial manufacturers succeed
To ensure a strong focus on the critical issues in this industry, PTC and
RWTH Aachen, a top European center for manufacturing research, have initiated
a Global Research Study with leading Industrial Manufacturers worldwide to
better understand their product development strategies and capabilities, and
the resulting impact on their financial performance. Senior executives,
responsible for leading new product development activities, have been
surveyed. Conclusions and findings are being compiled by industry experts and
will be available in mid 2004. PTC will use these results to help further
define what factors contribute to the success of its Industrial Manufacturing
clients.
About PTC
PTC develops, markets, and supports software solutions that help
manufacturers win with superior products. PTC is the world's largest software
company with a total commitment to product development. The company services
more than 35,000 customers worldwide. Further information on PTC is available
at http://www.ptc.com or call 1-888-782-3776, ext. 901
Except for the historical information contained herein, matters discussed
in this news release may constitute forward-looking statements that involve
risks and uncertainties that could cause actual results to differ materially
from those projected. These include: our ability to educate our current and
prospective customers on the benefits of PTC solutions our successful
development and integration of the technology necessary to offer an integrated
Product Development System for an expanded and diverse user base that
adequately responds to their numerous and evolving requirements; the success
of our partnering and customer satisfaction initiatives; the success of our
cost reduction initiatives; and the effects of a weak economy which may impact
the overall demand for software and related services; as well as other risks
and uncertainties detailed from time to time in reports filed by PTC with the
Securities and Exchange Commission, including the Company's most recent
reports on Form 10-K and 10-Q. The announcement of any particular customer
implementation or success story is not necessarily indicative of the timing of
recognition of revenue from such customer or the level of revenue for any
particular period.
PTC and its logo, Product First, The Product Development Company, Create
Collaborate Control, Simple Powerful Connected, Pro/ENGINEER, Wildfire,
Windchill, Windchill ProjectLink and all PTC product names and logos are
trademarks or registered trademarks of Parametric Technology Corporation or
its subsidiaries in the United States and in other countries.
Investor Contact Press Contact
Meredith Mendola Joe Gavaghan
781-370-6151 781-370-5074
mmendola@ptc.com jgavaghan@ptc.com
SOURCE PTC
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Related links:
http://www.ptc.com
CONTACT:
Meredith Mendola, +1-781-370-6151,
mmendola@ptc.com, or Joe Gavaghan, +1-781-370-5074,
jgavaghan@ptc.com both of PTC
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