Larsen & Toubro Business Unit Leverages PTC's Pro/ENGINEER® to Expand Global Footprint
NEEDHAM, MA - May 4, 2009: PTC (Nasdaq:PMTC), the Product Development Company®, today announced that LTM, a Larsen & Toubro business unit that manufactures equipment for the tire industry , has successfully leveraged Pro/ENGINEER® to expand its global business. By providing LTM with a winning CAD platform that reduces design cycle time and enhances product innovation, PTC has enabled LTM to effectively compete in a rapidly growing and competitive global tire manufacturing industry to an extent where today almost half of LTM's revenue is from the export market.
According to Mr. N. K. Harish, head, New Product Development, LTM, "Pro/ENGINEER® has helped LTM become more innovative and productive while designing to stringent international standards. With penetration into critical markets around the globe, we have been able to strike an equitable balance between the domestic and global market and establish a more diversified and sustainable business."
LTM Business Unit boasts of a team of highly qualified engineers with experience in designing complex mechanical, hydraulic, electronic and electrical systems. It is known for producing world class products and systems tailor made to customer requirements. It has a wide customer base spanning more than 40 countries, which include global tire majors, multinational plastics processors, Indian defense services and leading shipyards in India and abroad.
"PTC has a long standing association with the Indian engineering industry and has enjoyed a strategic relationship with L&T. PTC is very proud to partner with LTM which stands out as a great example of how our technologies have been a facilitator of business growth not just for the company but also for the Indian engineering sector," said Mr. Rafiq Somani, Country Manager, PTC India.
About LTM
LTM Business Unit is a part of the Machinery and Industrial Products Division of L&T and offers a wide range of Rubber Processing Machinery, Auxiliary Equipment for Plastics Processing Industries and custom engineered products . LTM Business Unit commenced its operations in 1974 at its plant in Chennai, India. It was originally a joint venture company, L&T-McNeil Limited, formed by L&T and McNeil Akron Inc., USA. Subsequently, L&T acquired the total ownership of the JV and made it as a Strategic Business Unit (SBU), known as LTM Business Unit, retaining its popular name of LTM. LTM BU is known for producing world class products and systems tailor made to customer requirements. It has a wide customer base spanning more than 40 countries, which include global tyre majors. LTM Business Unit has two factories in Chennai and Kancheepuram, India. A manufacturing facility has been set up in Qingdao, China for manufacture of rubber processing machinery, mainly catering to the needs of Chinese market
About PTC
PTC (Nasdaq: PMTC) provides discrete manufacturers with software and services to meet the globalization, time-to-market and operational efficiency objectives of product development. Using the company's CAD, and content and process management solutions, organizations in the Industrial, High-Tech, Aerospace and Defense, Automotive, Consumer and Medical industries are able to support key business objectives and create innovative products that meet both customer needs and comply with industry regulations. For more information on PTC, please visit www.ptc.com.
