BURLINGTON, Canada, Sep 25, 2014 – Forming Technologies Inc. (FTI), the world’s leading developer of software for the design, simulation, and costing of sheet metal components, is celebrating its Silver Anniversary in business. FTI incorporated in October, 1989 in Oakville, Ontario, Canada.
What started as a small Canadian engineering and consulting company for sheet metal stampings in 1989, FTI has evolved into a global technology company with offices and people in Canada, the United States, Germany, China, India, and by year end, Japan. Through organic growth and strategic partnerships, Forming Technologies has continued to adapt and evolve. Over the years, the company has established itself as a leading global provider of feasibility and cost reduction technologies and strategies for the sheet metal industry.
“FTI is proud to have played a role in converting forming and cost feasibilities from a Black Art into a computer assisted workflow that is an integral part of day to day routines,” states Dr. Medhat Karima, CEO of Forming Technologies Inc. “25 years ago, computer assisted technologies were still primitive and the stamping engineer was desperate for help, even for a simple blank size calculation. We were able to move “tryout” from the shop floor, where brute force technology was the current method used, back into the design office where the use of upfront design technologies became common place. Nowadays, the industry has come a long way as simulation is maturing and approaching a commodity status. However, there are still many significant opportunities for productivity improvements by converting the current computerized tryout into an engineering discipline. FTI is helping our customers develop a robust, lean and repeatable process and is empowering them with significant cost reduction opportunities and reduced time to market.”
“At FTI we help our customers create and improve upon their current methodologies for design, cost, and manufacturing processes,” adds Michael Gallagher, VP sales and marketing of Forming Technologies Inc. “We measure our success by our ability to implement and continuously improve upon our solutions for our customers. Our clients have saved Millions and Millions of dollars by focusing on and reducing their material costs and reducing their component footprints.”
About Forming Technologies
Forming Technologies Incorporated (FTI) is the world’s leading developer of computer aided engineering software for design, and simulation of sheet metal components. Since 1989, FTI has provided OEMs and suppliers in the automotive, aerospace, and appliance industries with innovative software and training solutions designed to reduce development time and material costs. FTI has trained over 15,000 engineers in Formability and Die Design and is considered the Best in Class around the world for their industry training programs. FTI and its global network of business partners provide sales and technical support to customers in more than 35 countries.
For more information, please visit the company’s website www.forming.com.