Volvo Group completes exhaustive validation of their directional decision to confirm PTC and is set to further advance its world-class PLM infrastructure
NEEDHAM, Mass. — (BUSINESS WIRE) — January 27, 2010 — PTC (Nasdaq: PMTC), The Product Development Company®, today announced that Volvo Group has signed an agreement moving PTC from a directional decision to a firm strategic decision to use Windchill®, PTC’s PLM (Product Lifecycle Management) software, for Volvo Group’s strategic VPDM (Virtual Product Data Management) program. This firm decision is the result of an exhaustive final validation that clearly demonstrated the value of the Windchill software and PTC´s capability to execute as an organization.
Volvo Group is one of the world's leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, and aerospace components and services.
“We are excited to begin the next phase of what we expect will be a multi-year relationship with Volvo Group,” said James E. Heppelmann, president and chief operating officer PTC. “Volvo has very sophisticated product development requirements: they operate in a fast-paced, global environment; they work with multiple, heterogeneous sources of data; they develop complex products, which are in many cases highly customized and have significant life cycles.”
About PTC Solutions for the Automotive Industry
PTC’s automotive design software tools enable effective automobile design and development in a heterogeneous environment and facilitate design and part reuse. Our automotive design software and collaboration tools make it easy to bring geographically dispersed design teams and production facilities together to dramatically reduce cycle times. Additionally, our dynamic publishing tools automate the technical publication creation process - shrinking costs and speeding up publishing times.
PTC (Nasdaq: PMTC) provides discrete manufacturers with software and services to meet the globalization, time-to-market and operational efficiency objectives of product development. Using the company’s PLM and CAD solutions, organizations in the Industrial, High-Tech, Aerospace and Defense, Automotive, Retail & Consumer and Life Sciences industries are able to support key business objectives and create innovative products that meet customer needs and comply with industry regulations. For more information on PTC, please visit http://www.ptc.com.
The announcement of any particular selection of PTC products is not necessarily indicative of the timing of recognition of revenue therefrom or the level of revenue for any particular period. In addition, in many cases PTC’s software must be successfully implemented and deployed to enable the customer to achieve its business objectives. The announcement of a customer’s selection of PTC software does not indicate that applicable implementation and deployment activities are complete.
PTC and its logo, The Product Development Company, and Windchill are trademarks or registered trademarks of Parametric Technology Corporation and/or its subsidiaries in the United States and in other countries.