-- Aiming for global collaborative manufacturing environment in manufacturing
process innovation and standardization --
NEEDHAM, Mass., March 15 /PRNewswire-FirstCall/ -- PTC(R) (Nasdaq: PMTC)
today announced that Hyundai Motor Company, the largest Automotive
manufacturer in Korea, has selected PTC as a PLM solution provider for the
Power Train Business Division. This contract marks the second PTC Windchill
deployment for Hyundai Motor Company since its application by the Ulsan
Tooling Center in 2001.
Under the terms of the contract, PTC will provide Windchill to Hyundai
motors' Drive and Power Train Business Division. In addition, PTC and Hewlett
Packard together will provide the IT consulting services for software
implementation.
Hyundai Motor Company adopted the Windchill solution for its Power Train
Business division (engines and transmission sector) before incorporating the
PLM system within the entire company, as a part of its Collaborative Product
Development System (CPDS) PLM project. Hyundai Motor Company has spent more
than 24 months since 2001 with more than 100 participants to streamline the
process and evaluate the system before finally selected PTC's Solution-
Windchill. The first phase system implementation is scheduled from March 2004
to November 2004.
Major objectives of the CPDS PLM project include:
-- Maximization of research and development productivity and process
renovation.
-- Strengthening of collaborative product development capabilities.
-- Reduction of manufacturing and development costs as well as product
development time, and securing capability to cope with customer's
requirements.
"The PLM project at this time is a part of our major efforts to maximize
product development productivity in order to be a world 'top five' car
manufacturer," said Paeng Jung-Kook, EVP and CIO of Information and Technology
Center at Hyundai Motor Company. "By making the most of the Windchill
solution, which is an outstanding PLM solution from PTC, we aim to develop a
successful Collaborative Product Development System based on partnership
between Hyundai Motor Company and PTC."
"PLM system development for Hyundai Motor Company using the PTC solution
means that the importance of the collaborative manufacturing environment is
being widely recognized by the traditional Korean car manufacturing industry,"
said Paul Cunningham, PTC Executive Vice President of Sales. "Until now, PLM
solutions in Korea have been mainly adopted by the electronics, electricity
and some conglomerate companies. The contract with Hyundai Motor Company
following wins with Toyota Motors in Japan, Volkswagen in Germany, and First
Autoworks in China, shows that the world's leading automotive manufacturers
are choosing the PTC PLM solution. This solution delivery to Hyundai Motor
Company will help us maintain our leading position in the Korean PLM market."
About Hyundai Motor Co.
Established in 1967, Hyundai Motor Co. has grown into the Hyundai
Automotive Group, which includes Kia Motors Corp. and over two dozen auto-
related subsidiaries and affiliates. Employing nearly 50,000 people worldwide,
Hyundai Motor posted US$21.94 billion in sales in 2002. Hyundai motor vehicles
are sold in 166 countries through 4,504 dealerships and showrooms. Further
information about Hyundai Motor Co. and its products is available on the
Internet at http://www.hyundai-motor.com
About PTC
PTC (Nasdaq: PMTC) 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 33,000 customers worldwide. Further information on PTC is
available at http://www.ptc.com.
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: the success of our initiatives to
facilitate our customer's understanding of the benefits of our integral PLM
solutions, including return on investment and value creation; Our ability to
successfully develop, integrate and support the technology necessary to
deliver products and services that anticipate and adequately respond to
evolving customer requirements; our ability to realize revenue from the
larger, strategic business opportunities we are pursuing as well as from our
point solutions based on Windchill technology; the success of our partnering,
distribution and customer satisfaction initiatives; the success of our
Windchill integrated solutions strategy initiatives, including our efforts to
successfully compete in the MCAD industry by differentiating our MCAD
offerings by targeting synergies with Windchill; the success of our cost
reduction initiatives; and the effects of a weakened 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.
PTC and its logo, Product First, The Product Development Company, Product
Development Means Business, Create Collaborate Control, Pro/ENGINEER,
Windchill, 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. Microsoft is a registered trademark of
Microsoft Corporation; Oracle is a registered trademark of Oracle Corporation;
and SAP is a registered trademark of SAP AG Germany.
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.hyundai-motor.com
http://www.ptc.com
CONTACT:
Investor Contact, Meredith Mendola,
+1-781-370-6151, mmendola@ptc.com; or Press Contact, Joe
Gavaghan, +1-781-370-5074, jgavaghan@ptc.com, both of PTC
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