It is also important to note that while our ownership has changed, our focus on providing market-leading PLM products and protecting our customers’ PLM investments has not. We are committed to ongoing development of our complete portfolio of performance-driven PLM solutions – including CAD/CAM/CAE, Digital Manufacturing and Digital Lifecycle Management tools. Our unwavering dedication to customer success also continues unabated. We have met with many customers over the past months to discuss Siemens integration issues ranging from maintaining consistency in account management and contractual agreements to our commitment to our product roadmaps. In the process, we have been gratified to see an overwhelmingly positive response and a shared excitement about the future.

Industry analysts also see the opportunity that Siemens is pioneering as highly significant to PLM and automation customers. You may be interested in reading two recent reports on this topic: PLM - Automation Market Evolution from CIMdata and Design/Build/Automate: End-to-End PLM from ARC. Both see our vision of totally integrated manufacturing as a major step in the development of PLM technology that will provide substantial benefits to customers.

I myself am particularly enthusiastic about additional opportunities we’ve created to combine forces and strengthen our organization in the area of executive management. This month I am pleased to introduce you to Tilo Brandis, who has joined UGS PLM Software as president, and Peter Bichara, who now serves as executive vice president and CFO. Both are relocating to our Texas headquarters from Germany.

Tilo Brandis President

Peter Bichara Executive Vice President and Chief Financial Officer

I have worked closely with Tilo over the last six months while he served as chief integration officer during the transition of UGS into Siemens A&D. Tilo comes to UGS PLM Software from Siemens’ Electronics Assembly Systems (EA) division, which he has headed since 2003. He previously served in a variety of posts within the Siemens Transportation Systems group, including as head of the global mass transit systems in Braunschweig, and the Siemens Logistics and Assembly Systems group. Prior to joining Siemens in 1997, Tilo served as CEO of HBS Consulting Partners GmbH in Prague. In my work with Tilo over the last months I can attest to his strong background in engineering and deep understanding of, and dedication to, customers in our market.

Before joining UGS PLM Software, Peter was vice president of Mergers and Acquisitions for Siemens A&D where he was responsible for directing A&D's acquisition, divestiture and strategic project programs. Peter and I have also been working closely together for the past months as he headed up the UGS acquisition team for Siemens A&D. Before joining Siemens, he held various positions at Bertelsmann including chief executive officer of one of Bertelsmann AG's Internet Joint Ventures and vice president of Strategy for the Bertelsmann Group. He has also worked for the Boston Consulting Group as a management consultant in the company's Düsseldorf, Germany and Los Angeles offices. This extensive experience combined with a solid background in Industrial Engineering makes him a valuable addition to our existing leadership team.

Our entire team looks forward to bringing you news about UGS PLM Software solutions and our views on ever better ways that companies can use PLM to reach their productivity, innovation and business growth goals. Together, UGS PLM Software and its customers have much to look forward to!