PTC Product Development System Enables Efficient Management of 400 New Products and Time-to-Market ImprovementNEEDHAM, Mass.—(BUSINESS WIRE)—Aug. 8, 2005— PTC (Nasdaq: PMTC), the Product Development Company(TM), today announced that Cresyn, the world's top audio and communications accessory maker, successfully completed both phases II and III of their Windchill implementation project. Cresyn is a manufacturer and importer/exporter of electronics, audio equipment and communications devices, and is particularly specialized in high-end and cutting-edge earphones. As a longstanding PTC Pro/ENGINEER(R) customer Cresyn is now expanding its relationship as it adopts PTC's product development system with this Windchill implementation.
Cresyn is dramatically diversifying its products by introducing over 400 new products annually. This is creating a significant need for increased collaboration between engineering and manufacturing engineers in its Seoul headquarters and factories in Jecheon and abroad in China. To address these challenges, Cresyn has adopted Windchill for product data management. Windchill satisfies Cresyn's key criteria for a PDM solution: interoperability with Pro/ENGINEER, their primary CAD solution, as well as advanced document and knowledge management capabilities. In addition to satisfying these requirements, Windchill also demonstrated scalability that Cresyn believes will position Windchill as the company's strategic PLM infrastructure throughout its planned expansion.
Cresyn CEO Na Jin expressed optimism about the newly introduced system, saying "Although sometimes more expensive, the earphones that we provide electronics makers are often preferred to their less expensive counterparts, because of the Cresyn's reputation for high quality. PTC currently serves some of the world's electronics giants and I am confident that PTC's extensive track record collaborating with electronics makers will help us in our bid to join the elite club of this industry."
Cresyn chose to adopt PTC Windchill after a series of benchmark tests, which lasted six months. The first phase of their implementation was carried out between October 2002 and April 2003. The second and third phases, which took place over a six-month period between October 2004 and March 2005, saw the completion of its PDM system, which includes PTC Pro/ENGINEER Wildfire 2.0 and Windchill 7.0. Program consulting for this project was provided by the PTC Global Services team, with the participation of e3ps, a PTC consulting and implementation partner in Korea.
"Handling business between the head office and our overseas affiliates is now much easier because everything is automated and communication is faster than before," said Jung Yong-Kwon, deputy general manager, informatization projects, Cresyn. "We used to spend over a month sending out documents and confirmations during our product development process. It now takes less than one week to do the same thing. Digitization has done wonders for our ability to share information, and dramatically reduce errors and change requests. Additionally, because the product development teams communicate and make changes in real-time, we have tremendously shortened our development period."
"The life cycle of a product in the electronics and high tech industry is rapidly becoming one of the shortest in discrete manufacturing because consumers are exceptionally demanding in terms both of design and performance," said Chad Hawkinson, director, high technology market strategy, PTC. "As a result, manufacturers need to produce increasingly complex products faster to satisfy consumer demand. PTC's product development system is well suited to help electronics and high tech customers, like Cresyn, meet these demands."
About Cresyn ( www.cresyn.com)
Started out in 1959 as a Daehan Phonograph Needle Factory, Cresyn was reincorporated in 1985 as "Shinwoo Audio Co., Ltd.". In 2002, the company was renamed Cresyn. With 6,234 employees currently on the payroll, Cresyn has its head office in Seoul, and production lines in Jecheon in Korea, Indonesia and China. In 2004, its total turnover of KRW 178 billion was over 90% accounted for by exports. Among its principal product categories are high-end and cutting-edge earphones and telephone headsets.
About PTC Solutions for Electronics & High Tech
PTC solutions for electronics & high tech are designed to meet the product lifecycle management requirements of electronics manufacturers. These solutions include product development process and data management, electronic verification and collaboration, environmental regulatory compliance (RoHS, WEEE, etc.) and 3D mechanical design. PTC has over 3,000 high tech customers, including the top 30 electronics manufacturers across the globe.
PTC (Nasdaq: PMTC) provides leading Product Lifecycle Management (PLM) software solutions to more than 35,000 companies worldwide. PTC customers include many of the world's most innovative manufacturing companies in the aerospace & defense, automotive, consumer, electronics & high technology, industrial equipment and medical products industries. PTC is included in the S&P 500 and Russell 2000 indices.
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 risks and uncertainties include the ability of PTC to successfully develop and support integrated PLM solutions that meet evolving customer requirements that may be effectively implemented and supported across a diversified and expanded user base,; the success of PTC's customer satisfaction initiatives providing the foundation for long-term relationships and repeat business, together with such other risks and uncertainties as are detailed from time to time in reports filed by PTC with the Securities and Exchange Commission, including PTC's most recent reports on Form 10-K and 10-Q.
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