CONCORD, MA -- (MARKET WIRE) -- Feb 22, 2011 -- SpaceClaim, the leader in 3D Direct Modeling solutions for rapid concept design and geometry manipulation, today announced that LG Electronics, Inc., a global leader and technology innovator in consumer electronics, mobile communications and home appliances, is optimizing their engineering processes by using SpaceClaim to modify and manipulate CAD models.
"SpaceClaim's ease of use and compatibility with a broad range of CAD software, enables our engineers to more quickly verify and measure 3D model data from designers and prepare those designs for the manufacturing process," said Mr. Juyeon Lee, Chief Research Engineer, Mold/Die & Forming Technology Group, Product Prestige Research Lab/Productivity Research Institute, LG Electronics. "Activities in SpaceClaim also include model modification before the machining process and planning the assembling procedures. We anticipate that SpaceClaim will contribute to the improvement of our overall production process."
LG Electronics employs more than 80,000 people working in 115 operations around the world. Sales in 2009 were $43.4 billion and the company is one of the world's leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines.
SpaceClaim recently strengthened 3D direct modeling for the enterprise with the Company's seventh release of its software. New capabilities within SpaceClaim 2011 meet manufacturers' requirements for fast and cost-effective, engineering-driven product development.
"LG Electronics is established as a leading global brand of digital consumer products," said Chris Randles, SpaceClaim President and CEO. "Creating and manufacturing innovative products is driven by ensuring the best, most advanced, tools are available for development teams. SpaceClaim is committed to helping our manufacturing customers meet business imperatives, such as removing waste from product development, tightening costs and increasing innovation. By enabling all engineers to communicate in 3D easily and quickly, decisions can be made early in the development process and release to CAD is only when product success is assured."
SpaceClaim is the first software tool designed to enable engineers who don't use traditional CAD to effectively work in 3D. When all engineers can work confidently in 3D, they can answer questions, make modifications, and suggest solutions without creating unnecessary dependencies on the core CAD team. Manufacturers worldwide rely on SpaceClaim to communicate design concepts prior to releasing those designs to CAD and CAM tools, focusing on value and eliminating unnecessary work, moving to traditional tools only when success is assured. Engineering-driven product development with SpaceClaim shortens time-to-market, creates stronger innovation, and improves customer satisfaction.
About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 80,000 people working in 115 operations including 84 subsidiaries around the world. With 2010 global sales of 55.8 trillion Korean won (USD 48.2 billion), LG comprises four business units -- Home Entertainment, Mobile Communications, Home Appliance, and Air Conditioning and Energy Solution. LG is one of the world's leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both a Global Partner of Formula 1™ and a Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. For more information, please visit www.lg.com.
About SpaceClaim Corporation
SpaceClaim enables global engineering and manufacturing organizations to leverage 3D design to innovate, win more business, quickly prepare models for analysis, and get products to market faster. Engineers can rapidly create new designs as well as edit and simplify 2D and 3D CAD data, regardless of origin and without the complexity of traditional CAD. Customers include Nokia Siemens Networks, BorgWarner, Medtronic, Lotus Cars, Sharp, K2 Medical Systems, FuelCell Energy, Emhart Glass, GE Aviation, General Dynamics, and the U.S. Navy. SpaceClaim is privately held and backed by Borealis Ventures, Kodiak Venture Partners, and North Bridge Venture Partners. For more information on SpaceClaim, please visit: www.spaceclaim.com.
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