PTC Supports Drive for New Generation of Open Technology Standards in Automotive Industry

PTC Signs Brand New “Codex of PLM Openness” Initiated by Global Auto OEMs and Coordinated by Independent ProSTEP iViP Association

NEEDHAM, MA and MUNICH, GERMANY - March 8, 2012 - PTC® (Nasdaq: PMTC) has committed its support for a new global automotive industry initiative called the "Codex of PLM Openness" (CPO). Last summer, PTC became one of the first technology vendors to sign a special Memorandum of Understanding supporting the CPO.  Now, PTC's chief technology officer, Andrew Wertkin, has signed the CPO itself demonstrating further leadership on this initiative, which aims to foster industry agreement on best practices for open, interoperable PLM and related solutions for the auto industry and further industries.

Launched by a number of global Auto OEMs in 2011, the CPO initiative is being coordinated by the Germany-based ProSTEP iViP Association and already enjoys support from a broad range of global automotive manufacturers including Audi, BMW, Chrysler, Continental, Daimler, Ford, GM, Honda, Hyundai, Jaguar Land Rover, Mazda, Mitsubishi, Nissan, Renault, Suzuki, Tata Motors, Toyota, VW, Volvo Cars, Volvo Group.

"The broad support we have seen thus far for the Codex of PLM Openness demonstrates that the time has come for a new approach to product lifecycle management solutions for the automotive industry and other industries", said Dr. Steven Vettermann, General Manager at the ProSTEP iViP Association. "The early support from PTC and other signees have helped us significantly to generate further commitment."

As the manufacturing value chain has become increasingly distributed and virtualized, auto makers today rely on highly distributed and often disparate IT systems to ensure the efficient yet innovative development of next year's model. In the area of product lifecycle management, this is especially true as it incorporates many different disciplines such as product design, hardware and software development, testing and, eventually, product service. The CPO initiative represents the industry's desire to expand choices and drive more openness among the PLM vendor community.

"PTC has a long history of supporting open standards and interoperability with third party solutions to ensure maximum customer value," said Andrew Wertkin, chief technology officer at PTC. "Manufacturing companies must be enabled to support their business processes with combined solutions packages from different vendors and we are pleased to be playing an important role in helping shape the next generation of technology solutions for auto makers and further industries."

Based in Germany, the independent ProSTEP iViP Association has 160 member companies and organizations from 17 nations. The organization bundles the interests of manufacturers and suppliers in the manufacturing industry as well as IT vendors, in close cooperation with research and science institutes, to provide its members with the long-term competitive advantages that more efficient processes, methods and systems enable. Today, the ProSTEP iViP Association remains committed to developing new approaches to end-to-end process, system and data integration for its members and providing digital support for all the phases of the product creation process.

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About PTC
PTC (Nasdaq: PMTC) enables manufacturers to achieve maximum value from their product strategies with software and services designed to optimize key business processes throughout the entire product lifecycle - from conception and design to sourcing and service. PTC's integral solution portfolio enables customers to unleash product innovation, improve collaboration and ensure product data integrity within engineering and across the enterprise, supply chain and service partner networks. Founded in 1985, PTC employs over 6,000 professionals serving more than 27,000 customers worldwide.  More information can be found at www.ptc.com.

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