NEEDHAM, Mass.—(BUSINESS WIRE)—November 27, 2006— PTC (Nasdaq: PMTC), the Product Development Company(TM), today announced that Piaggio & C. S.p.A. (Italy), one of the worlds leading manufacturers of motor-cycles and scooters, has selected the PTC Product Development System (PDS) as its standard solution for product development for all Piaggio brands including Piaggio, Vespa, Moto Guzzi, Aprilia and Derbi. Pro/ENGINEER(R) will become the single CAD/CAM/CAE solution for the entire product design at Piaggio group, replacing the current multi-CAD environment. In addition, all the company's divisions will move from Pro/INTRALINK(R) to Windchill PDMLink(R) to provide a single, Web-based product development platform for the extended enterprise, consisting of all Piaggio brands and the supply chain to better manage its product development information. The implementation is being supported by PTC's global services organization to ensure that Piaggio's unique product development methodology is rolled out consistently to all divisions.
Piaggio strives to develop high-performance environmentally friendly engines and constantly improve vehicle safety and features without compromising design, creativity and quality. Another key objective for Piaggio is to maximize the reusability of components to help speed time-to-market and lower development cost. The PTC Product Development System empowers Piaggio in achieving these objectives by enabling effective and fast collaboration and information sharing among research & development centres located in Italy, Spain, India and China with more than 700 engineers.
"For Piaggio group, research & development is of strategic importance to ensure our future growth by developing high-tech driven products such as our current initiative on vehicles powered by hydrogen fuel cells," said Federico Martini, technical manager at Piaggio. "The PTC Product Development System supports our corporate policy of structured processes which ensure continuous improvements through simultaneous global engineering. By standardizing on a market-leading technology, we are strengthening our competitive position in the two wheel vehicle market, where speed and flexibility are essential for success."
Piaggio Group has been a PTC customer since 1999 deploying Pro/ENGINEER following a comprehensive technical benchmark. The integrated CAD/CAE/CAM solution is used for engine, body and chassis design. PTC technology has contributed substantially to reductions in internal review times, overall time to market and improved concurrent engineering. Based on this success, the Piaggio Group is now standardizing on PTC CAD solutions and adopting Windchill PDMLink for better information management with a logical product structure between the global Piaggio teams and its supply chain enabling smooth information exchange between heterogeneous CAD systems.
"In an increasingly competitive and complex environment like the automotive industry, it is important for our customers to apply efficient development processes which help them optimize their costs and speed time to market in order to enhance their position in the industry," said Martin Walters, director of automotive product and market strategy, PTC. "Our product development system enables Piaggio Group to quickly anticipate customer needs and create products which are innovative, stylish and technically sophisticated."
About Piaggio & C. S.p.A.
Established in 1884 by Rinaldo Piaggio, and based in Pontedera near Pisa (Italy), the Piaggio Group is one of the world's top manufacturers of two-wheeled motor vehicles. The Group is controlled by Immsi S.p.A., an industrial and services holding listed on the Milan Stock Exchange. As of July 11, 2006, Piaggio & C. S.p.A. shares are listed on the Milano Stock Exchange. The Piaggio product range features scooters, mopeds and motorcycles from 50cc to 1,200cc, with Piaggio, Vespa, Gilera, Aprilia, Moto Guzzi, Derbi and Scarabeo brands. The Group also manufactures three and four-wheel light commercial vehicles for utility and personal mobility, with the Ape, Porter and Quargo ranges. In 2005, the Piaggio Group reported consolidated net sales of 1.451,8 million Euro.
About PTC Solutions for the Automotive Industry
PTC solutions for automotive are designed to meet the product design and product life cycle management needs of both OEMs and suppliers in the automotive industry. PTC provides 3D design, product data management and collaboration solutions to over 1400 automotive manufacturers including 8 of the top ten suppliers and 3 of the top 5 OEMs.
PMTC) provides leading product lifecycle management (PLM), content management and dynamic publishing solutions to more than 40,000 companies worldwide. PTC customers include the world's most innovative companies in manufacturing, publishing, services, government and life sciences industries. PTC is included in the S&P 500 and Russell 2000 indices. For more information on PTC, please visit 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 PLM solutions, including interoperability, quality, return on investment and value creation; the ability of PTC to develop the technologies and service offerings necessary to deliver solutions that allow customers to implement a comprehensive product development system across an extended enterprise and which meets evolving customer requirements; the success of PTC's customer satisfaction initiatives in providing the foundation for long-term relationships and repeat business; the success of our partnering and distribution initiatives to cost effectively deliver our solutions; and the success of our integrated solutions strategy initiatives; 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 selection of PTC products is not necessarily indicative of the timing of recognition of revenue from such order or the level of revenue for any particular period.
PTC, the PTC logo, The Product Development Company, Pro/ENGINEER, Windchill, Windchill ProjectLink, Windchill PDMLink, Pro/INTRALINK and all PTC product names are trademarks or registered trademarks of Parametric Technology Corporation in the United States and in other countries.