United Technologies Licenses Machining Optimization Technology to CGTech Will enable CGTech to offer new product that significantly improves productivity in automated machining processes for aerospace, automotive and industrial applications PR Newswire HARTFORD, Conn., Aug. 20, 2014 HARTFORD, Conn., Aug. 20, 2014 /PRNewswire/ -- oCGTech will integrate UTC's technology within its VERICUT® cutting process software oBenefits include reduced development time, shorter cycle times, less process variation, longer machine life and improved part quality oUTC has experienced machining productivity improvements of up to 50 percent United Technologies Corp. (NYSE: UTX) has executed a licensing agreement with CGTech, a specialist in computer numerical control (CNC) simulation software for manufacturing, that will help improve productivity for machining equipment operators. The agreement allows CGTech to integrate UTC's PromptFM^TM machining process optimization technology within CGTech's VERICUT cutting process simulation software. United Technologies Corp. PromptFM, developed by UTC, is a physics- and mathematics-based modeling software designed to optimize machining rates for machined parts within aerospace, automotive, industrial and other markets that utilize automated machining. PromptFM seeks to determine the optimum speeds for a cutting process and make the CNC machine cut in the most efficient, fast and reliable way, based on the type of material being cut. The software was created by UTC specifically to be compatible with VERICUT, which is used throughout the CNC machining industry to simulate the cutting process to detect errors, potential collisions or areas of inefficiency. The licensing agreement will enable the development of a software product that is capable of reducing development time, cycle times and process variation, and enabling longer machine life and improved part quality. The terms of the licensing agreement were not disclosed. "This agreement with CGTech is just one more example of UTC's strategy to accelerate innovation and drive productivity within UTC and also with a much broader audience," said Kelly Romano, UTC vice president of business development. "The widespread adoption and integration of this leading software technology has the opportunity to drive efficiency throughout the machining industry." Since implementing PromptFM in its own internal machining processes, UTC has seen productivity improvements of up to 50 percent. "CGTech sees significant value in the widespread adoption of this technology, both for existing VERICUT customers and for any business using machining in its manufacturing processes," said Jon Prun, president of CGTech. "UTC has demonstrated the value of this optimization technology within its own operations, and we are excited to bring additional capabilities to what is already the industry standard for CNC machining simulation." Headquartered in Irvine, California, CGTech specializes in numerical control simulation, verification, optimization and analysis software technology for manufacturing. To learn more about CGTech, visit its website at www.CGTech.com, or follow the company on Twitter: @VERICUT_CGTech. United Technologies Corp., based in Hartford, Connecticut, provides high-technology products and services to the building and aerospace industries. To learn more about UTC, visit its website at www.utc.com, or follow the company on Twitter: @UTC. Contact: Danielle Smith, UTC Public Relations 860-728-6238 Logo - http://photos.prnewswire.com/prnh/20140122/NE50390LOGO SOURCE United Technologies Corp. Website: http://www.utc.com
United Technologies Licenses Machining Optimization Technology to CGTech
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