Business Services Industry
Moldflow and Yudo Launch Manufacturing Operations; Yudo to Manufacture Altanium Hot Runner Process Controls for Chinese market
Business Wire, June 6, 2005
FRAMINGHAM, Mass. -- Moldflow Corporation (NASDAQ:MFLO) and Yudo Company, Ltd., have finalized the agreement to expand their relationship in order to allow Yudo to manufacture Moldflow's Altanium(R) hot runner process control products for sale in China. Moldflow, the leading provider of automation and optimization software for the plastics injection molding industry and Yudo, one of the world's largest suppliers of hot runner systems, will work together to meet growing demand for technologically advanced shop floor manufacturing solutions. Altanium is Moldflow's modular, small footprint hot runner process control system that supports up to 384 zones.
Yudo currently distributes Moldflow's Altanium products worldwide on an OEM basis in connection with the sale of their own products. In conjunction with the signing of the manufacturing agreement, Yudo placed an initial order for component parts totaling more than $600,000, of which a significant amount will ship this quarter. This order will provide Yudo with a variety of Altanium platforms from which to begin the start-up phase of the manufacturing program.
"This strategic partnership with Moldflow gives Yudo the ability to provide a world-class process control solution for our global hot runner system customers," said Francis Yu, president of Yudo Company, Ltd. "We are pleased to be working closely with a technology leader like Moldflow where our expertise in hot runner solutions can be leveraged with Moldflow's reputation for providing feature rich cutting edge technology."
"This agreement represents another step in Moldflow's strategy to meet the needs of the rapidly expanding market in Asia for our hot runner control products," explained Tim Triplett, Moldflow's executive vice president and general manager of Manufacturing Solutions. "By outsourcing local manufacturing operations we are able to capitalize on Yudo's proven expertise in manufacturing and selling products of this type in the local market. We look forward to continuing an already productive relationship with Mr. Yu and the employees of Yudo."
About Moldflow Corporation
Moldflow (NASDAQ: MFLO) is the leading global provider of design through manufacturing solutions for the plastics injection molding industry. Moldflow's products and services allow companies to address part and mold design issues at the earliest stage and maximize productivity and profitability on the manufacturing floor. Visit www.moldflow.com for more information.
Note to editors: Moldflow and Altanium are trademarks or registered trademarks of Moldflow Corporation or its subsidiaries worldwide. All other trademarks are properties of their respective holders.
Cautionary Statement Regarding Forward-Looking Information
Pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, the Company notes that any statements contained in this press release that are not historical facts are forward looking statements. Such forward looking statements include those regarding Moldflow's or management's intentions, hopes, beliefs, expectations, projections or plans for the future and include statements regarding the establishment of manufacturing operations by Yudo and Moldflow's ability to deliver products to fulfill the requirements of any order placed by Yudo. Forward looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include the risk that the announcement of any particular sales order is not necessarily indicative of the timing of recognition of revenue from such order or the level of revenue for any particular period,as well as other risks and uncertainties detailed from time to time in reports filed by Moldflow with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended June 30, 2004 as well as its subsequent quarterly and annual filings.
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