Tianjin New Harbor Shipyard Standardizes on PTC® Shipbuilding Solutions
Beijing China –January 9, 2007 – PTC, the Product Development Company®, and Tianjin New Harbor Shipyard jointly announced today that Tianjin New Harbor Shipyard has expanded its use of PTC Shipbuilding Solution, which includes CADDS® 5i to improve its overall design capabilities. With the expanded software implementation, Tianjin New Harbor Shipyard is standardizing on PTC Shipbuilding Solution as its manufacturing design platform. Tianjin New Harbor Shipyard believes that this decision will further accelerate its transformation into a modern international shipbuilding enterprise.
The CADDS 5i solution enables users to refer to each other’s evolving designs and facilitate concurrent engineering in a fully digitized ship design and 3D modeling environment. This sophisticated enterprise application for shipbuilding will shorten product design lead-time and accelerate time-to-market. With its new deployment of CADDS 5i, Tianjin New Harbor Shipyard is expected to bring additional revolutionary changes in digitization at its shipyard. CADDS 5i is now being used by over 40 engineers at Tianjin New Harbor Shipyard.
As in any industrial sector, innovation is the key to capitalizing on opportunities and realizing market growth. However, the shipbuilding sector is often marked by lengthy product development cycles, due largely to archaic manual design processes that are still in place. Tianjin New Harbor Shipyard led the industry in adopting CADDS 5i, which offers flexible 3D hybrid modeling and 2D drafting capabilities across a broad application range, easing engineers’ workload, and freeing up their time to develop more innovative products. For many years, PTC has worked closely with the shipbuilding industry. As part of this effort, PTC has focused on improving 3D design tools and 2D drafting functions based on the shipbuilding industry criteria. As a result, CADDS 5 is widely used in both military and civil products.
“The standardization of CADDS 5i will significantly enhance our R&D capabilities,” said Pan Yanzhong, deputy general manager of Tianjin New Harbor Shipyard. “We are extremely pleased to have PTC as a long-term strategic partner and believe this relationship will help us become a modern enterprise in the shipbuilding industry.”
“Tianjin New Harbor Shipyard’s use and standardization on PTC CADDS 5i is the result of a continued commitment to provide advanced products and implementation assistance in the global shipbuilding industry,” says Richard Prince, director of aerospace and defense market strategy, PTC. “We are excited about our role in helping Tianjin New Harbor Shipyard become one of the most technologically sophisticated international shipbuilders. We look forward to the continuation of our successful relationship as we begin to provide a complete product development system that supports data and process management.”
About Tianjin New Harbor Shipyard
As the largest shipbuilding enterprise in North China, Tianjin New Harbor Shipyard has accumulated rich ship building and repairing techniques and management experience during the 66 years since its foundation. Since the 1980s, the factory absorbs many advanced shipbuilding technologies, introduces modern equipment, keeps on reforming and perfecting its facilities, and has laid a solid foundation for building ships with advanced technology.
About PTC Solutions for Aerospace and Defense
PTC provides product lifecycle management solutions designed to meet the requirements of the global aerospace and defense industry. These solutions enable digital automation of product development and program management processes, as well as complete visibility and control over program information for secure, collaborative product development. PTC is an industry leader with all of the top 20 A&D companies as customers.
PTC (Nasdaq: 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 Midcap 400 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 successful development and integration of the technology necessary to offer an integrated solution that adequately responds to the evolving design and data management requirements of customers within the shipbuilding industry, the success of PTC’s customer satisfaction initiatives in providing the foundation for long-term relationships and repeat business, PTC’s ability to efficiently support multiple product categories, 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 software is not necessarily indicative of the timing of recognition of revenue therefrom or the level of revenue for any particular period. PTC and its logo, The Product Development Company, CADDS and all PTC product names and logos are trademarks or registered trademarks of Parametric Technology Corporation or its subsidiaries in the United States and in other countries.