Tecnomatix and a Major Auto Manufacturer Enter Four-Year Global Agreement With Expected Revenues of Over US$50 Million
December 18 2003 - 6:00AM
PR Newswire (US)
Tecnomatix and a Major Auto Manufacturer Enter Four-Year Global
Agreement With Expected Revenues of Over US$50 Million Largest Ever
Agreement for Tecnomatix Covers Customer's Manufacturing Operations
Worldwide HERZLIA, Israel, Dec. 18 /PRNewswire-FirstCall/ --
Tecnomatix Technologies Ltd. , the driving force in Manufacturing
Process Management (MPM), announced today a global agreement with a
major automotive manufacturer. The agreement to implement
Tecnomatix MPM solutions throughout the customer's manufacturing
operations worldwide represents an expansion of an existing
relationship with this manufacturer and is expected to generate
total revenues in excess of US$50 million over the next four years.
Under the agreement, the manufacturer will purchase Tecnomatix
eMPower software, services and maintenance, including the
eM-Planner product suite, a comprehensive set of applications for
manufacturing process planning, simulation, and design and
production validation. According to the agreed-upon framework,
purchase volumes are expected to increase gradually during the
early stages of the agreement, accelerating as deployment ramps up.
"This is the most extensive agreement in the history of Tecnomatix.
It addresses all of our customer's manufacturing disciplines
worldwide, and firmly establishes Tecnomatix as the global leader
and driving force in MPM solutions," said Harel Beit-On, Tecnomatix
chairman and CEO. "Tecnomatix has the expertise and technology to
support an implementation of this scale. We have the right vision
for MPM and the proven ability to execute on that vision." Beit-On
continued, "Tecnomatix has been working with this customer on
several implementations over the past few years, and we have been
able to deliver significant value during that time. Our eMPower
solutions have reinforced their global virtual manufacturing
programs and key enterprise strategies, including flexible
manufacturing, digital process validation, capital asset reuse, and
the alignment of product and process development. We continue to
gain momentum with the world's leading manufacturers as they
recognize the invaluable manufacturing efficiencies and cost
benefits of implementing our eMPower solutions throughout the
enterprise. Tecnomatix has always been a pioneer in the virtual
manufacturing and process planning domains, and this agreement
solidifies our position as the leader in the multi-billion dollar
MPM market." About Tecnomatix Technologies Today's leading global
manufacturers are adopting Tecnomatix eMPower solutions for MPM to
expand revenue potential and reduce costs by accelerating product
introductions, shortening time to volume, and optimizing production
execution. eMPower enables our customers to succeed with its
collaborative, open platform and applications for defining,
simulating, managing, and executing manufacturing processes across
the extended enterprise. For more information, please visit
http://www.tecnomatix.com/. Forward-looking Statements This press
release includes forward-looking statements, within the meaning of
the Private Securities Litigation Reform Act of 1995, which are
subject to risks and uncertainties that could cause actual results
to differ materially from those anticipated. Such statements may
relate to the Company's plans, objectives and expected financial
and operating results. The risks and uncertainties that may affect
forward-looking statements include, but are not limited to:
purchase commitments under the agreement, currency fluctuations,
global economic and political conditions, market demand for
Tecnomatix products and services, long sales cycles, new product
developments, assimilating future acquisitions, maintaining
relationships with customers and partners, and increased
competition. For more details about the risks and uncertainties of
the business, refer to the Company's filings with the Securities
and Exchange Commission. Tecnomatix undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. Company
Contact: Investor Contact: Tecnomatix Technologies Ltd. The Ruth
Group Bill Siegel David Pasquale 603-672-3019 646-536-7006 Marsha
Shalvi +972-995-94733 Media Contact: Topaz Partners Todd Van
Hoosear 781-388-7900 ext. 209 The Ruth Group Jason Rando
646-536-7025 DATASOURCE: Tecnomatix Technologies Ltd. CONTACT: Bill
Siegel, +1-603-672-3019, , Marsha Shalvi, +972-995-94733, , both of
Tecnomatix Technologies Ltd.; Investor Contact: David Pasquale,
+1-646-536-7006, , Media Contact: Jason Rando, +1-646-536-7025, ,
both of The Ruth Group; or Todd Van Hoosear of Topaz Partners,
+1-781-388-7900 ext. 209, , all for Tecnomatix Technologies Ltd.
Web site: http://www.tecnomatix.com/
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