The vision of TRANSPARENCY is to allow European machine-tool builders for transferring their business into a machine-related cooperation of service oriented partners in a dynamic network. The project aims for a vertical integration of management, design and operation of machine-tools to provide long-ranging transparency for both the end users and the machine-tool builder throughout the whole life-time of the machine-tool. This is achieved by a knowledge based Collaborative Co-Design Environment approach using semantic technologies. Special attention will be paid for the conceptual system design stage, the feed-back of knowledge from the operational life-cycle stages. Life-cycle performance, knowledge about produced products, and experiences of human personnel will be constantly incorporated into the set of knowledge. Handling of complexity will be achieved by self-descriptive Active components and the realization of a flexible, knowledge based Co-Design Methodology. Advanced assessment and prediction tools with links to commercial of the shelf simulations will assess important key performance indicators to execute virtual test cases to support especially early design decisions. This will drastically reduce costly re-design cycles in detailed design. Furthermore, the continuous availability of dynamically assessed Life-Cycle Costing data will allow for constant total life cycle cost optimization of the machine-tool and its components. Via web-based collaboration and secure storage of data, the project will ensure that every responsible stakeholder will have access to all information available throughout the whole life-time of the product and towards the re-use or disposal of the machine-tool or its components.