PARC will allocate resources to conduct research and 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, VP 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.”