Larsen & Toubro Business Unit Leverages PTC’s Pro/ENGINEER to

  Larsen & Toubro Business Unit Leverages PTC’s Pro/ENGINEER to Expand Global
  Footprint

Business Wire

NEEDHAM, MA -- May 04, 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 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, PTC’s ability to retain and maintain
relationships with key employees, customers and other strategic partners; the
success of PTC’s customer satisfaction initiatives in providing the foundation
for long-term relationships and repeat business; the possibility that current
economic conditions could cause our customers to reduce or forego investment
in our solutions and/or could negatively impact our ability to collect
receivables due from our customers, either of which would negatively impact
our cash from operations and thereby reduce amounts available to invest in our
business initiatives; along with 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 selection or implementation of PTC products
is not necessarily indicative of the timing of recognition of revenue
therefrom or the level of revenue for any particular period.

PTC and its logo, The Product Development Company, Pro/ENGINEER and all PTC
product names and logos are trademarks or registered trademarks of Parametric
Technology Corporation or its subsidiaries in the United States and in other
countries.

Contact:

PTC
Kristian Talvitie, 781-370-6151
Corporate Communications
ktalvitie@ptc.com
or
For PTC
WeberShandwick
Amanda Keane, 617-520-7260
akeane@webershandwick.com
 
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