NEEDHAM, Mass.--(BUSINESS WIRE)--Dec. 6, 2005--PTC (Nasdaq: PMTC), the product development company(TM), today announced that Tae Kwang Industries, a leading OEM manufacturer of athletic footwear, has successfully standardized on PTC's Product Lifecycle Management (PLM) solutions for collaboration with its overseas plants as well as integration with its Enterprise Resource Planning solutions. This is an expansion of Tae Kwang's relationship with PTC, which began with the company's selection of PTC Windchill in October 2002.
Tae Kwang, a Nike Inc. contract factory, chose to expand its implementation of its Windchill-based product development system (PDS) to form a collaborative production backbone for the company. Tae Kwang is using Windchill to collaboratively develop products in a globally distributed environment while controlling the information associated with that development throughout the product lifecycle. Tae Kwang uses Windchill to ensure effective communication among product development teams, logistics departments and overseas production plants in China and Vietnam. This approach enhances the company's competitiveness, increases efficiency and reduces overall product development costs. Windchill provides a central source of information for products being designed and manufactured. It also unifies all the teams working concurrently on production across the extended enterprise and in geographically dispersed sites while providing strict configuration and change management functions with powerful automated workflows. Additionally, the integrated visualization capabilities allow a wide audience of Tae Kwang users to easily leverage the CAD models and drawings. The result is a shortened product design cycle, higher quality products and lower costs. "Globalization governs today's business and gives more importance to information-sharing and collaboration across product development teams scattered all over the world," said Shin Yedon, managing director, Tae Kwang. "The increasing needs of sharing information between production facilities in China and Vietnam prompted Tae Kwang to employ a new system to strengthen the project management capabilities of its existing PDM system. PTC Windchill is the best solution to meet this requirement. Through Windchill, we will be able to share product development information more effectively. This in turn leads to major improvements in our lead time, cost efficiency and customer service. "Tae Kwang's selection of PTC Windchill is evidence that global collaboration is not an option but a requirement in today's business environment," said Matthew Austin, marketing program director, consumer products, PTC. "It is clear that a product development system is critical to optimize the business processes involving a multinational consumer goods company and its partner company in Korea. With their extended use of Windchill, Tae Kwang is able to rapidly achieve their strategic and execution objectives." About Tae Kwang Ind., Founded in 1971, Tae Kwang Ind, was awarded the Gold Tower Industrial Medal in 1997 and currently the owner holds a governing chair in the Korea Footwear Industry Association. While headquartered in Kimhae, Kyungsang Nam Province of Korea, the company also produces its products out of its overseas production facilities in Dong Nai, Vietnam (founded in 1994) and Qingdao, China (founded in 1995). Tae Kwang is the one of the Nike contract factories. The company employs 20,450 in its Kimhae headquarters and factories in Vietnam and China. More information on Tae Kwang Ind., can be found at the company's website (www.tkgroup.co.kr). About PTC 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 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 successful development and integration of the technology necessary to offer an integrated Product Development System for the Retail, Footwear and Apparel industry that adequately responds to evolving customer requirements; continued growth in the adoption of PLM solutions within vertical industries beyond the discreet manufacturing verticals traditionally served by PTC; 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 |
