IronCAD and Strategic Partner CAXA form International Joint Venture IronCAD and CAXA combine resources to address the needs of a globally diverse product development community ATLANTA, GA., April 6, 2004 — IronCAD, the Innovative Design Collaboration
Solutions Company, and CAXA, the market leader and China’s largest domestic provider of CAD/CAM/PLM solutions today announced
the creation of a new International Joint Venture Company aimed at better addressing the needs of a globally diverse product
development community. The Joint Venture Company will be made up of representatives from both IronCAD and CAXA. The purpose
of the Joint Venture Company will be for the setting of a common set of business goals and strategies that maximizes each
company’s resources to effectively deliver the products, solutions and services demanded by their customers. The individual
companies IronCAD and CAXA will be responsible for the tactical implementation of the global strategy in each of their
respective geographies. Over the last several years IronCAD and CAXA have enjoyed a very successful partnership and the establishment of a Joint Venture Company was the next logical step towards tightening the relationship. The Joint Venture Company will allow the customers of both IronCAD and CAXA to benefit in many positive ways. CAXA’s customers will benefit from IronCAD’s award winning 3D design products, proven to be the fastest and easiest way to 3D for productivity minded companies worldwide. In addition they will be able to take advantage of IronCAD’s experienced and industry knowledgeable team that consistently delivers the creative design technologies required by today’s leading companies. IronCAD's customers will immediately benefit from the addition of CAXA’s sizable, and experienced software development team. The larger combined team will dramatically accelerate the rate at which new customer driven functionality can be added to IronCAD’s products. Another benefit will come from CAXA’s third party developer network utilizing IronCAD’s API to develop additional add-on products. This will give IronCAD customers access to a broader range of complimentary third party applications. Additionally CAXA’s Product Innovation and Collaboration Management Solutions Suite will offer a future upgrade path to a fully integrated PLM offering.
Dr. Tao-Yang Han, President of IronCAD LLC sums up the value of the Joint Venture by saying, “The formation of a joint venture with CAXA will positively impact several key elements of our overall business. On the product side IronCAD will be able to improve its products at a much faster pace including the addition of new vertical focused add-ons. On the sales side it will allow IronCAD to enjoy a much bigger share of the Chinese market as well as the rest of Asia. Lastly it is a major step towards realizing a strategic corporate goal of establishing a truly International Enterprise.” About IronCAD, LLC About CAXA |
According to Dr. Yi Lei, President of CAXA, “We could not be happier about the formation of a joint venture with IronCAD.
We believe IronCAD’s innovative technology and industry vision will be vital in helping CAXA increase its market share and in
establishing itself as the leading provider of Chinese focused PLM solutions. The joint venture with IronCAD will enable the
creation of a true International Enterprise better able to meet the needs of a geographically disperse product development community.”