April 25, 2003  |  Imaginestics to play a key role in ToolingNet

Purdue Research Park, West Lafayette, Indiana, U.S.A – Imaginestics, software developer of knowledge-based systems for the manufacturing and life sciences industry, has today announced that it will play a key role in ToolingNet. The ToolingNet project was selected as one of 12 academic-private sector partnerships to receive an award from the Indiana 21st Century Fund. The partners in ToolingNet include Purdue University, Tri-State University, Vincennes University, Indiana Manufacturers Association, Mid-America Plastic Partners, National Tooling Manufacturing Association, ALCOA, Caterpillar, Cirrus ABS, GT Automation, Kirby Risk, and Lear Corporation.

Indiana has a strong manufacturing heritage and industrial base; however, over the past decade it has lost significant market share to neighboring states and foreign countries. Studies have shown that the Indiana industrial tooling and equipment industry (which includes die shops, foundry, and molders, etc.) lags behind in technology resources and information technology tools. ToolingNet's goals are to create a vibrant on-line collaborative marketplace for the Indiana tooling industry and to provide a medium for delivering the most current technologies and training developed by Indiana's leading educational institutions.

"We are excited about being a key partner in the development of ToolingNet. Having the opportunity to impact the economic future of Indiana's tooling industry is truly momentous for us. We expect ToolingNet to become a success story where the Indiana tooling community and our educational institutions work collaboratively on-line to improve the skills and market share of our industrial tooling and equipment industry," said Nainesh Rathod, President/CEO of Imaginestics.

"The ToolingNet project is critical in our state's quest to assist Indiana manufacturers to compete on a global basis. The partnerships formed by Imaginestics and Purdue University are the keys to their continued success. The 21st Century Fund has shown that through partnerships, projects like ToolingNet realize synergies that will lead to tremendous opportunities for all of the partners. They've had great success in the past, and we think they'll be even better going forward," said Tony Armstrong, director of the 21st Century Research and Technology Fund.