Palo Alto, California and Sandviken, Sweden , April 20, 2017 (GLOBE NEWSWIRE) -- Sandvik Coromant is strengthening its capabilities in digital manufacturing by signing a strategic research agreement with PARC, a Xerox company, world-renowned innovation center. PARC will provide Sandvik Coromant with a footprint in Silicon Valley and expert resources for research & development in the field of digital manufacturing.
PARC will allocate resources to conduct research & develop technologies within digital manufacturing for Sandvik Coromant under the terms of the agreement. Sandvik Coromant will also acquire all Intellectual Property (IP) and technology related to PARC’s software for high-level process planning and automated manufacturing cost estimation for subtractive manufacturing.
“This partnership is a natural step and in line with the Sandvik Coromant long-term strategy to develop attractive solutions in the field of digital manufacturing and Industry 4.0,” said Magnus Ekbäck, Vice President and Head of Business Development and Digital Machining for Sandvik Coromant. “With this cooperation, we will significantly strengthen our capabilities within digital machining.”
“Manufacturing is entering a dynamic new phase as cyber and physical world’s converge, and the complex and diverse industry needs significant innovation to truly progress,” said PARC CEO Tolga Kurtoglu. “The missing piece for complete design automation and manufacturing of complex products has been the integrated coupling of design and manufacturing, which we have been developing at PARC for many years. We’re pleased to partner with Sandvik Coromant to see these innovations come to life on the global stage.”
PARC has been developing technologies for government agencies and commercial clients in the field of digital manufacturing for almost a decade. Its digital manufacturing suite of technologies helps designers and manufacturers understand real-world manufacturing process constraints during digital product design, and identifies potential limitations of a supply chain early in the design phase, ultimately minimizing time-to-market and improving overall product quality.
The strategic research agreement will be governed by a Joint Steering Committee with representatives from PARC and Sandvik Coromant.
Part of global industrial engineering group Sandvik, Sandvik Coromant is at the forefront of manufacturing tools, machining solutions and knowledge that drive industry standards and innovations demanded by the metalworking industry now and into the next industrial era. Educational support, extensive R&D investment and strong customer partnerships ensure the development of machining technologies that change, lead and drive the future of manufacturing. Sandvik Coromant owns over 3,100 patents worldwide, employs over 8,500 staff, and is represented in 150 countries. For more information visit www.sandvik.coromant.com or join the conversation on social media.
PARC, a Xerox company is in the Business of Breakthroughs®. Practicing open innovation, we provide custom R&D services, technology, expertise, best practices, and intellectual property to Fortune 500 and Global 1000 companies, startups, and government agencies and partners. We create new business options, accelerate time to market, augment internal capabilities, and reduce risk for our clients. Since its inception, PARC has pioneered many technology platforms – from the Ethernet and laser printing to the GUI and ubiquitous computing – and has enabled the creation of many industries. Incorporated as an independent, wholly owned subsidiary of Xerox in 2002, PARC today continues the research that enables breakthroughs for our clients' businesses.
Kelly Brieger | PARC, a Xerox company | 650-704-1748 | firstname.lastname@example.org Anne Björck | Sandvik Coromant | +46 (0) 70 616 32 74 | email@example.com