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» CAD » 3D CAD » ADVIK Hi-Tech Leverages PTC® Pro/ENGINEER® To Speed Entry Into Four-Wheeler Auto-Parts Market
ADVIK Hi-Tech Leverages PTC® Pro/ENGINEER® To Speed Entry Into Four-Wheeler Auto-Parts Market
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NEEDHAM, Mass.--(BUSINESS WIRE)--PTC (Nasdaq: PMTC), the Product Development Company®, today announced that ADVIK Hi-Tech Private Limited, a leading Indian auto components manufacturer, has standardized on Pro/ENGINEER® to help transform its product development process and expand its operations into new markets. Pro/ENGINEER, PTC’s integrated 3D CAD/CAM/CAE software, helps companies develop detailed, intuitive and realistic digital product representations. Headquartered in Pune, India, ADVIK is a supplier of two-wheeler automotive parts such as tensioners to renowned worldwide brands such as Suzuki, Honda, Yamaha, Bajaj and Hero Honda. Prior to its selection of Pro/ENGINEER, ADVIK relied on a two-dimensional CAD system for product development. Because they were restricted to viewing designs in 2D, engineers were unable to effectively analyze key design elements such as volume, surface area and mass. As a result, design errors were often not identified until the physical prototype was created causing rework and development delays. Constrained by the limitations of its 2D CAD system, ADVIK chose to transition to a 3D solid modeling solution to support its ambitious growth initiatives into the four-wheeler market. Pro/ENGINEER provided ADVIK the powerful capabilities it needed to strengthen its development process, reduce errors and shorten time-to-market. Using Pro/ENGINEER, development of a die-casting tool has been reduced by 25 % from 60 days to 45 days. Further, the ability to identify and correct errors early in the design process has helped improve product quality and increase the overall efficiency of the company’s product development process. “Pro/ENGINEER has helped ADVIK meet the extremely high quality standards that our customers demand, while reducing design cycle time and managing increasing design complexity,” said Aditya Bhartia MD ADVIK Hi-Tech. “As a result of these efficiencies, we can rapidly scale our product development to support the requirements of the new four-wheeler market, which gives ADVIK a competitive advantage.” ”The automotive sector is becoming more competitive globally, causing increased pressure on the supply chain. To be successful in this environment, Indian companies must keep pace by utilizing innovative technology, efficient processes and best practices in product development,” said Martin Walters, director, product and market strategy, PTC .“PTC is pleased to help industry leading companies like ADVIK Hi-Tech leverage the powerful capabilities of PTC solutions to improve product development processes and achieve growth in emerging markets.” About ADVIK Hi-Tech Private Limited Headquartered in Pune, ADVIK Hi-Tech Private Limited is a leading manufacturer of Auto Components, products like Lifter Tensioner Assemblies, Oil Pumps, Fuel Pumps, Fuel Feed Pumps, Fuel Cocks, Decompression Units, Water Pumps, One Way Clutch and Precise Machined Components like Pinions, Screws, and Nuts & Control Shafts for Globally Renowned Automotive Original Equipment Manufacturers. Its facilities at Pune include a full fledged research and development set-up, a state of the art standards room with coordinate measurement machine and product testing laboratory with sophisticated test rigs, cellular manufacturing CNC set-ups as well as conventional machine shops with customer-part combination based dedicated assembly lines and metallurgical Laboratory under one roof. With over 250 strong workforce comprising of technically qualified engineers and supervisors the company boasts of modern machinery and infrastructure conforming to international standards. About PTC Solutions for Automotive 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 enterprise 3D design, product data management and collaboration solutions to over 1400 automotive manufacturers including 8 of the top ten powertrain suppliers and 3 of the top 5 OEMs. 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 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 risks and uncertainties include: PTC's successful development and integration of the technologies necessary to offer integrated PLM solutions that address the evolving product lifecycle management functions for the automotive industry and are deployable across the globally extended supply and customer chains, the ability of PTC to successfully partner and effectively coordinate and manage joint activities (including sales, marketing, implementation and support) with third parties in order to efficiently and cost effectively deliver products and services that meet customer requirements, and the success of PTC’s customer satisfaction initiatives in providing the foundation for long-term relationships and repeat business, together with such other risks and uncertainties as are detailed from time to time in reports filed by PTC with the Securities and Exchange Commission, including PTC's most recent reports on Form 10-K and 10-Q. The announcement of any particular standardization of PTC products 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, Create Collaborate Control Configure Communicate, Simple Powerful Connected, Pro/ENGINEER, Wildfire 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. http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20070515005243&newsLang=en |
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