Memex says clients regularly claim IRRs of more than 400% using MERLIN
Proactive Investors – September 26, 2014
Memex Automation (CVE:OEE) says its MERLIN product which works to improve manufacturing efficiency has been featured in the September issue of PLANT magazine.
The cover article of the issue describes how Canadian manufacturers can eradicate the productivity gap with MERLIN, said Memex.
The hardware and software solution generates up to a 400 percent IRR upon installation in manufacturing plants, according to the company, and is featured in the article alongside Google‘s $3.2 billion purchase of Nest as well as Apple‘s, Samsung’s and Sony‘s “internet of everything consumer-based wearables.”
The Merlin device monitors production and capacity utilization on the shop floor, improving profitability, reducing waste and ensuring compliance with regulations. It enables customers to address production bottlenecks as they happen, converting idle time back into production and ultimately improving throughput and increasing income from plant operations.
The company’s product was recently described in a case study by Mazak, which said that Merlin-related efforts to reduce downtime yielded a 42 percent improvement in utilization for the monitored machines. In addition, Mazak also reduced operator downtime by 100 hours per month, while 400 hours per month of previously outsourced work was returned to the company.
“Our clients regularly detail to us IRRs of more than 400% because they’re using our solution to connect their plants to their management teams in real-time,” said CEO of Memex David McPhail.
“This Plant article is spot on the money because it describes how Canadian manufacturers can move from the disconnected to the connected manufacturing environment; eradicate the Canadian productivity gap; uncover the hidden plant; and, generate more production and income from operations using the same labour and equipment.
“That’s how these IRRs are generated,” he added.
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