NEEDHAM, Mass., Oct. 22 /PRNewswire-FirstCall/ -- PTC (Nasdaq: PMTC), the
product development company(TM), today announced that Toyota Motor Corporation
has signed a joint research and development agreement to expand the solutions
available to powertrain product and process designers. The agreement includes
development of capabilities designed to optimize Toyota's powertrain
development process.
Since Toyota's first large implementation of Pro/ENGINEER in 2001, the
company has expanded its commitment to PTC's solutions for engine and
drivetrain development throughout the organization. PTC's development of a
comprehensive Product Development System clearly aligns with Toyota's approach
to product design and development and the two companies are planning for the
deployment of PTC products and services for product lifecycle management
solutions throughout Toyota's Engine and Drivetrain organization.
More than one third of the top 40 Automakers use Pro/ENGINEER for
Powertrain development including such customers as VW, BMW, Hyundai, Fiat,
Volvo Truck, Daihatsu, Hino Motors, Tata Motors, ZF, Mannesman AG, Visteon,
Robert Bosch, Eaton, Dana, AVL, and Cummins.
"This agreement marks a significant milestone in our long and successful
relationship with Toyota," said Dick Harrison, president and CEO of PTC.
"Powertrain organizations face unique challenges in the broader transportation
industry as development time, manufacturing ramp-up time, and quality become
more critical for our customers around the world. We believe that our joint
initiative with Toyota will give our highly practical and proven product
development system for powertrain even greater capabilities to make our
customers successful."
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: the effective coordinate of our joint
research and development initiatives; our successful development and
integration of the technology necessary to offer an integrated Product
Development System for an expanded user base that adequately responds to
evolving customer requirements; the success of our partnering initiatives; the
success of our cost reduction initiatives; and the effects of a weakening
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 order is not necessarily indicative of the timing of recognition of
revenue from such order 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, 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 Public Relations 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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