SOURCE: Memex Inc.

MEMEX Inc.

October 30, 2015 06:00 ET

Milwaukee Tool Expands Adoption of MEMEX's MERLIN Communications Platform

BURLINGTON, ON--(Marketwired - Oct 30, 2015) - Based on the success of a 5-license MERLIN pilot completed in June, MEMEX Inc. (TSX VENTURE: OEE) is pleased to announce the receipt of a 53-license MERLIN follow-on order from Wisconsin-based professional power tool and accessories manufacturing company, Milwaukee Tool. This order represents the first of three phases negotiated by Milwaukee Tool to implement MERLIN on 130 additional industrial machines at its Greenwood, MS plant. 

MEMEX's flagship software product, MERLIN, is an industrial-strength shop-floor-to-top-floor communications platform that provides efficiency metrics in real time. Specifically, MERLIN delivers a 10%-50% average productivity increase, earns 20%-plus profit improvement based on just a 10% increase in Overall Equipment Effectiveness (OEE), consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect or hardware adapters for older machines.

"MERLIN is an integral automated link in our efforts to adopt the OEE metric as the key KPI in our manufacturing facility," says Jack Bilotta, Plant Manager of Milwaukee Tool's Greenwood plant. "MEMEX's MERLIN provides direct, real-time communication from our production equipment."

"We are thrilled to see MERLIN being tested, validated and adopted by a manufacturing leader like Milwaukee Tool," said John Rattray, MEMEX's Vice President of Sales. "Milwaukee Tool has joined other leading manufacturers like Mazak, Magellan and iMech in recognizing MERLIN's unique ability to bring machine-to-machine (M2M) connectivity from the shop floor to the top floor."

About Milwaukee Tool

Since the company began in 1924, Milwaukee Tool has led the industry in both durability and performance by providing the best in professional, heavy-duty tools and accessories. With an unwavering commitment to the trades, Milwaukee Tool continues to lead with a focus on providing innovative, trade-specific solutions. Whether it is through their leadership in LITHIUM-ION technology, as seen in the M12™, M18™ & M28™ Systems, time-saving accessories or innovative hand tool products, Milwaukee Tool is dedicated to delivering a steady stream of advanced solutions for the trades that offer increased productivity and unmatched durability. Milwaukee Tool is a Brookfield, Wisconsin-based subsidiary of Techtronic Industries Co. Ltd. (TTI) (HKEx stock code: 669, ADR symbol: TTNDY). For more information on the full line of Milwaukee® products, please call 1-800-SAWDUST or visit www.milwaukeetool.com

About MEMEX Inc.

MEMEX is a leading Industrial Internet of Things (IIoT) technology platform provider that connects to any machine and delivers real-time manufacturing productivity metrics. Industrial strength MERLIN software provides Overall Equipment Effectiveness (OEE) efficiency metrics in real time, from shop-floor-to-top-floor. MERLIN connects to any machine, old or new, utilizing MTConnect, other protocols or hardware adapters. The MERLIN magic delivers a 10% to 50% average productivity increase so that any manufacturer can achieve world-class standards of excellence. Based on just a 10% increase in OEE, customers see profit improvements of 20%-plus and payback in less than four months. For more information, please visit: www.memexOEE.com

Forward-Looking Statements
The statement "This order represents the first of three phases negotiated by Milwaukee Tool to implement MERLIN on 130 additional industrial machines at its Greenwood, MS plant" is a forward-looking statement. This intention was communicated by Milwaukee Tool to MEMEX during the negotiations for the purchase order announced in this press release and that intention was an integral part of those negotiations. However, there is no guarantee that Milwaukee Tool will proceed with the second and third phases of their planned expansion of their adoption of MEMEX's MERLIN communications platform. The aforementioned forward-looking statement is made as of the date of this press release and, except as required by applicable securities legislation, MEMEX assumes no obligation to update publicly or revise this forward-looking statement to reflect subsequent information, events, or circumstances.

Neither the TSX Venture Exchange nor its Regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Media Contacts

    MEMEX INC.
    Leanne Rattray
    Communications Specialist
    Phone: 905-635-1540 ext. 103
    Email: Email Contact

    David McPhail
    CEO
    Phone: 519-993-1114
    Email: Email Contact