PARC will provide Sandvik Coromant with a footprint in Silicon Valley and an expert resources for research and development (R&D) of digital manufacturing. Under the terms of the agreement, PARC will also allocate resources to conduct R&D technologies concerning digital manufacturing for Sandvik Coromant.
Sandvik Coromant will 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.
Says Magnus Ekbäck, VP and head of business development and digital machining for Sandvik Coromant: “This partnership is a natural step and in line with Sandvik Coromant’s long-term strategy to develop attractive solutions in the field of digital manufacturing and Industry 4.0. With this cooperation, we will significantly strengthen our capabilities within digital machining.”
The strategic research agreement will be overseen by a joint steering committee that will have representatives from both PARC and Sandvik Coromant.
Image: Saigopal Nelaturi (Area Manager, Computation for Automation in Systems Engineering) PARC, Janni Weber (Senior Project Manager) Sandvik Coromant, Mats Bergstrom (Managing Director, Global Business Operations and Program Manager for Digital Design and Manufacturing) PARC, Magnus Ekbäck (Vice President and Head of Business Development and Digital Machining) Sandvik Coromant, Tolga Kurtoglu (CEO) PARC, Markus Larsson (Vice President of Global Business Operations) PARC, Mats Allard (Project Manager Virtual Machining) Sandvik Coromant, Michael Waltrip (Senior Director, Intellectual Property Management and Commercialization) PARC.