Parametric Technology Receives $1.5 Million Order for Software and Services From Fiat Auto SpA.WALTHAM, Mass.--(BUSINESS WIRE)--Sept. 4, 1997-- Company Standardizes to Improve Powertrain Development Process Parametric Technology Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :PMTC PMTC Prevention of Mother to Child Transmission (of HIV/AIDS) PMTC Pacific Missile Test Center PMTC Professional Multimedia Test Center ), developer of the Pro/ENGINEER family of software tools used to automate mechanical product development, announced that it has recently received a $1.5 million order for Pro/ENGINEER and Pro/MECHANICA software and services from Fiat Auto SpA of Turin, Italy. All software in the order was shipped to the company during PTC's current fiscal quarter (ending September 30). Fiat Auto SpA, the second largest European automotive manufacturer, decided to standardize stan·dard·ize v. 1. To cause to conform to a standard. 2. To evaluate by comparing with a standard. its powertrain operations on Pro/ENGINEER and Pro/MECHANICA after an intensive evaluation. Fiat, which initially purchased Pro/ENGINEER in 1994, expanded its use of PTC's mechanical design and functional simulation solutions to increase overall productivity and streamline its powertrain development process by enabling virtual prototyping and structural optimization. A spokesman for the Engine Design Department at Fiat stated, "The Pro/ENGINEER family of software supports our efforts to fully integrate design, manufacturing and analysis. Pro/ENGINEER provides these benefits faster than any other product we've seen." "Fiat's decision to standardize on PTC's technology to support its powertrain development process further strengthens our growing presence in the area of engine and transmission design," noted C. Richard Harrison There are several people named Richard Harrison.
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. at Parametric Technology. "We have emerged as the clear standard for powertrain design in Europe, with companies such as Volkswagen, Audi, BMW BMW in full Bayerische Motoren Werke AG German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. and Volvo Truck making Pro/ENGINEER their software of choice. "I am also pleased to announce that Ferrari, an existing user of PTC's software for Formula 1 race engine design, has also standardized on Pro/ENGINEER for production powertrain design. We look forward to working with Ferrari to extend Pro/ENGINEER throughout the entire product development process for new vehicle models." Parametric Technology Corp. is the CAD/CAM/CAE industry's leading supplier of software tools used to automate the mechanical development of a product from its conceptual design through production. Worldwide, more than 14,200 companies employ PTC's integrated software Separate software components or applications that have been combined into one package. See integrated software package. technologies to reduce time to market, improve engineering processes and optimize product quality. Parametric Technology's growth strategy emphasizes technological leadership, aggressive price/performance, hardware independence, worldwide distribution and extensive customer support. -0- Parametric Technology Corp., Pro/ENGINEER and Pro/MECHANICA are registered trademarks and all names in the PTC (PTC, Needham, MA, www.ptc.com) Long a world leader in mechanical computer-aided design, manufacturing and engineering software, PTC, through acquisitions and reorganization, has transformed itself into a leading provider of Internet-based B2B solutions for discrete manufacturers. product family as well as the PTC logo are trademarks of Parametric Technology Corp. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and other countries. All other companies and products referenced herein have trademarks or registered trademarks of their respective holders. CONTACT: Parametric Technology Corp. John W. Hudson, 617-398-5561 or Anne Shannon, 617-398-5628 |
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