Parametric Technology Receives Orders for 250 Seats of Pro/ENGINEER Software from Daewoo Electronics
WALTHAM, Mass.--(BUSINESS WIRE)--July 28, 1997--Parametric Technology Corporation (NASDAQ:PMTC), developer of thePro/ENGINEER(R) family of software tools used to automate mechanicalproduct development, announced that it has recently received follow-on orders for 250 seats of software from Daewoo Electronics of Seoul,Korea.
A leading manufacturer of consumer electronics includingaudio/video products and home appliances, Daewoo Electronics hasdecided to standardize on Pro/ENGINEER within 13 of its divisions.With 1996 sales totaling more than $4 billion, the company will usethe additional software to maintain and improve its market position byfurther streamlining its product development process.
"With this purchase, Daewoo will further automate its internalprocesses, maintaining a competitive advantage and optimizing costefficiency. Additionally, this order is a result of our continuinginvestment in our Asia/Pacific Operations. We expect more orders ofthis size as customers throughout the Pacific Rim begin to standardizeon our products," said C. Richard Harrison, president and chiefoperating officer at Parametric Technology. "PTC continues to providetools that play an integral role in our customers' success."
Parametric Technology Corporation is the CAD/CAM/CAE industry'sleading supplier of software tools used to automate the mechanicaldevelopment of a product from its conceptual design throughproduction. Worldwide, more than 14,200 companies employ PTC'sintegrated software technologies to reduce time to market, improveengineering processes, and optimize product quality. ParametricTechnology's growth strategy emphasizes technological leadership,aggressive price/performance, hardware independence, worldwidedistribution, and extensive customer support.
CONTACT: Parametric Technology Corp.
Investor Relations: Public Relations:
John W. Hudson Anne Shannon
(617) 398-5561 (617) 398-5628
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS
Return to Headlines