Strengthening capabilitiesin Digital Manufacturing, Sandvik Coromant has signed a strategic research agreement with PARC, a Xerox company, world-renowned innovation centre. PARC will provide Sandvik Coromant with a footprint in Silicon Valley and expert resources for research and development in the field of Digital Manufacturing.
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 Sandvik Coromant’s 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.”
PARC CEO Tolga Kurtoglu commented: “Manufacturing is entering a dynamic new phase as the cyber and physical worlds converge, and the complex and diverse industry needs significant innovation to truly progress. 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.
The strategic research agreement will be governed by a Joint Steering Committee with representatives from both PARC and Sandvik Coromant.