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PTCa?s PLM Momentum Accelerates as Automotive Industry Evolves

^{Published on 2011-02-14 05:10:49 - Market Wire}
 

NEEDHAM, Mass.--([ BUSINESS WIRE ])--PTC® (Nasdaq: PMTC), The Product Development Company®, today announced plans to establish a Research and Development Center of Excellence focused on the specific [ PLM requirements of the Automotive industry ], including the requirement for globalization, the desire for an open PLM platform, the opportunity to optimize service operations, and the need for tighter integration between CAD, BOM and the Digital Mock-Up for rapidly changing vehicle configurations. The R&D center is located in Korea.

"We believe that automotive companies who are selecting Windchill are choosing to leapfrog their competition in terms of PLM technology and product development process sophistication"

aAutomotive OEMs and supply chain participants are facing an expanding set of business and technical complexities that include evolving supply chain relationships, increasingly complex vehicles with more electronics and software; rapidly developing regulatory compliance-related requirements, and increasing consumer quality, functional and time-to-market demands,a said Peter Bilello, President of CIMdata, a leading global PLM management consulting and research firm. aThe good news is that PLM-enabling solutions are seen by many in the global automotive industry as critical to addressing these issues.a

Jim Heppelmann, President and CEO of PTC, commented aWe are seeing a significant amount of generational turnover of PLM technology in the automotive industry. Over the past 12 months, PTC has partnered with leading passenger and heavy vehicle OEMs such as Hyundai Motor Company and Kia Motors Corporation, and Volvo Group, as well as major automotive suppliers such as Continental, Schaeffler, HARMAN Automotive, and Cummins to help them implement their next-generation product development systems. Each of these companies intends to leverage our core Windchill® PLM software as the backbone of their product development technology platform. These partnerships have contributed greatly to our momentum in the automotive vertical, characterized by more than 70% [ Windchill ] revenue growth and four adominoa™ wins in the last year.a

aWe believe that automotive companies who are selecting Windchill are choosing to leapfrog their competition in terms of [ PLM technology ] and product development process sophistication,a continued Heppelmann. aWindchill is the fastest growing PLM product in the market, and equally important, PTC has the [ professional services ] scale and expertise to help companies implement and extract the most value from their PLM technology. PTC is committed to helping automotive companies as they refresh and expand their PLM technology solutions into enterprise-class business solutions focused on enabling thousands of users across the value chain to collaborate and more effectively participate in the product development process. We believe our new Automotive PLM R&D Center of Excellence will continue to enhance our presence and momentum in the automotive vertical.a

PTCa™s enterprise 3D design, product data management and collaboration solutions customers in the automotive industry include 8 of the top 10 powertrain suppliers and 3 of the top 5 automotive OEMs.

About PTC

PTC (Nasdaq: PMTC), The Product Development Company®, develops, markets and supports product development software solutions and related services that help companies achieve their product development strategies and optimize their processes. Using the companya™s tightly integrated CAD and enterprise PLM solutions, organizations are better able to create and manage product information throughout the lifecycle for optimal product development success.

The announcement of any particular selection or implementation of PTC products is not necessarily indicative of the timing of recognition of revenue therefrom or the level of revenue for any current or future period.

PTC, the PTC logo, The Product Development Company, and Windchill are registered trademarks of Parametric Technology Corporation and/or its subsidiaries in the United States and other countries.