Nissan Signs $2 Million Contract With Tecnomatix
9 July 1998
Nissan Signs $2 Million Contract With Tecnomatix
HERZLIYA, Israel--July 9, 1998--Major Car Manufacturer Selects Tecnomatix as its
Main Digital Factory Partner
Tecnomatix Technologies Ltd. (NASDAQ-NM Symbol: TCNOF) announced today that it has signed a contract with Nissan Motor Corporation worth approximately $2 million. Under the contract, Tecnomatix will supply DYNAMO software licenses as well as maintenance and implementation services over three years. Both companies expect additional orders above the initial frame which may reach up to a total of $3 million.
Mr. Hisayoshi Kojima, Managing Director at Nissan Motor Company, commented: "This contract is the first stage of our Digital Factory strategy whose goal is to cut lead time of new products from 20-25 months to 12 months. Our selection of Tecnomatix as our main Digital Factory partner was based on Tecnomatix products' breadth of functionalities and technological leadership. We are certain that they will enable us to enhance our design to manufacturing activities."
"In the first stage of our Digital Factory strategy," Mr. Kojima continued, "Nissan will expand its use of digital mock-ups, deploying DYNAMO in both design and production engineering activities. The software will be used for digital prototyping, assembly studies and process planning."
Mr. Harel Beit-On, President and Chief Executive Officer of Tecnomatix commented, "We are very pleased that another world-leading manufacturer has chosen Tecnomatix as its Digital Factory partner. This decision reflects Nissan's recognition of our market leadership and its confidence in the Tecnomatix Digital Factory as a key to improving their production processes."
Beit-On continued, "This contract represents a continuation of our expansion in Japan. It is also the largest contract for our DYNAMO software in Japan to date. We are pleased that Nissan has decided to implement DYNAMO as a mainstream tool for digital mock up and look forward to helping them implement further stages of their Digital Factory Program."
TECNOMATIX TECHNOLOGIES LTD. is a pioneer and world leader of the computer-aided production engineering (CAPE) market. The Company develops, markets and supports industrial companies with software tools to fully computerize the industrial process and achieve a seamless transition from design to production. CAPE products enable production engineers to create an on-screen virtual manufacturing environment that graphically displays and simulates actual manufacturing operations. The Company's CAPE products include the ROBCAD line of products for manufacturing processes; the VALISYS line of quality engineering products; DYNAMO for the study of assembly and disassembly of newly designed products; SIMPLE++ for design, planning, and optimization of a complete factory; EXALINE for printed circuit board (PCB) assembly machines; and PART for generative machining and process planning.
Certain statements made herein that use the words "estimate" "project" "intend" "expect" "believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of the Company to be materially different from those which may be expressed or implied by such statements, including, among others, changes in general economic and business conditions and specifically, changes in the level of activity in the automotive industry, decline in demand to the Company's products, inability to timely develop and introduce new technologies, products and applications and loss of market share and pressure on prices resulting from competition. For additional information regarding these and other risks and uncertainties associated with the Company's business, reference is made to the Company's reports filed from time to time with the Securities and Exchange Commission.
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