In order to position itself as a competitive leader in the high-tech manufacturing sector, Wolong Holding Group aims to improve its current product data management (PDM). By introducing the PDM system and leveraging the implementation of the PLM project as a measure to elevate the Group’s technology management, the Group plans to achieve a lean, flat and efficient operation system and faster time-to-market. With a strategic goal of achieving asset and revenue target of RMB10 billion each by 2010, the management of Wolong Holding Group has developed an overall plan to introduce the PLM system and improve management of technology development and product lifecycle. The first phase of the “PLM system, 3D software and implementation project” will be implemented across four subsidiary companies and divisions and is scheduled to go live in October 2008. The second phase will encompass an additional seven subsidiary companies and divisions.
"After a thorough evaluation, Wolong selected the most advanced PLM software and 3D CAD design product in the industry provided by PTC, which has profound expertise in this area. We are confident that Wolong’s PLM project will set a new standard for the industry," said Liu Hongqi, general manager of Wolong Holding Group, during the PLM project kick-off ceremony. "By implementing PTC's PLM solutions, we aim to achieve faster time-to-market, reduce design costs, improve product quality and customer satisfaction, and ultimately drive innovation across the enterprise."
"PTC’s customized and comprehensive products allow its customers to implement product development rapidly and efficiently. We are impressed by the dedication shown by the senior executives from Wolong Holding Group," said Robert Kocis, divisional vice president, Worldwide Channel Sales, PTC. "PTC is committed to provide Wolong Holding Group with excellent products and services. We are confident that Wolong Holding Group’s PLM project will be a success."
As one of PTC’s major partners in China, PISX has been working closely with PTC on the Wolong Holding Group PLM project. PISX (Shanghai) Co., Ltd is dedicated to providing customers with consulting, planning, customization and implementation services for Product Lifecycle Management solutions.
About Wolong Holding Group Co.,Ltd.
Founded in 1984 and with more than 20 years of growth, Wolong Holding Group Co., Ltd. now owns two listed companies (Wolong Electric 600580, and Wolong Real-estate 600173), 29 subsidiary companies, over 6,000 employees and total assets of over RMB6.5 billion. The Group’s business spans manufacturing, real-estate and financial investment sectors. Wolong Electric manufactures over 3,000 products in 40 product categories, including industrial motors, micro motors, home appliance motors, power supply batteries, electric bicycles, special haulage transformers and electric equipment. Its products account for about 20 percent of the domestic market and have been awarded Famous Chinese Products and is exempted from product examination by the government. Wolong, the trademark, was recognized as one of the famous trademarks in China. The company has been ranked first in the electronic engine industry for several successive years.
Wolong Holding Group Co., Ltd has been recognized by the Chinese government as a key high-tech enterprise. With a R&D center for post-doctorate students and electric technology institute, the Group has implemented a national-level “Torch” project and 22 key technology programs. In addition, it has developed nine national-level key new products and won 49 national development awards and 163 patents. Wolong Holding Group co-chairs the China Micro Motor Association, China Small and Medium Motor Association, and chairs Jiangsu Province Motor Association. Additionally, the Group has been awarded to the Top 100 of Machinery Enterprises in China, the Top 500 Private Enterprises in China, and also been placed in the leading group of industrial companies. Wolong Holding Group has implemented advanced management systems such as OA, ERP, PLM, CRM, and BMI projects. By setting up a standard legal person mechanism and advanced management system, the Group has met international standards of 3C, UL and CE.
With becoming a competitive leader in the high-tech manufacturing sector as its strategic goal, Wolong Holding Group is now implementing the three-phase development strategy according to the company’s “five-year Plan.” Apart from expanding the business of Wolong Electric and Wolong Real-estate, the two-listed companies, the Group also aims to achieve the total asset and sales volume of RMB10 billion each. Wolong Holding Group aims to become a high-tech, rapidly growing and highly efficient modern manufacturer. It aims to reach the global market, and operate with social capital and advanced management.
For more information on Wolong Holding Group, please visit http://www.wolong.com.cn.
PTC® solutions for Electronics & High Tech
PTC solutions for electronics & high tech are designed to meet the product lifecycle management requirements of electronics manufacturers. These solutions include product development process and data management, electronic verification and collaboration, environmental regulatory compliance (RoHS, WEEE, etc.) and 3D mechanical design. PTC has over 3,000 high tech customers, including the 30 largest electronics manufacturers across the globe.
About PTC
PTC (Nasdaq: PMTC) provides leading product lifecycle management (PLM), content management and dynamic publishing solutions to more than 50,000 organizations worldwide. PTC customers include the world's most innovative companies in manufacturing, publishing, services, government and life sciences industries. PTC is included in the S&P Midcap 400 and Russell 2000 indices. For more information on PTC, please visit http://www.ptc.com.
Except for the historical information contained herein, matters discussed in this news release may constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. These include: the successful development and integration of the technology necessary to support an integrated Product Development System that adequately responds to the evolving design, collaboration, development process automation, electronics verification, data management, quality assurance and regulatory testing requirements of customers within the high-tech and electronics industry; continued growth in the adoption of PLM solutions; PTC’s ability to extend the functionality of our solutions beyond that traditionally served by PTC (including regulatory compliance); and our effective coordination and manage joint activities (including development, integration, sales, marketing, implementation and support) with strategic technology partners to deliver and support an integrated suite of solutions for the electronics & high tech industry as well as other risks and uncertainties detailed from time to time in reports filed by PTC with the Securities and Exchange Commission, including the Company's most recent reports on Form 10-K and 10-Q. The announcement of any particular deployment of PTC products is not necessarily indicative of the timing of recognition of revenue therefrom or the level of revenue for any particular period.
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