SOURCE: Plex Systems

Plex Systems

June 15, 2010 09:19 ET

Plex Systems' Twarozynski Named Crain's Detroit Business CFO of the Year

Award to Be Presented June 16

AUBURN HILLS, MI--(Marketwire - June 15, 2010) -  Plex Systems, Inc., provider of the No. 1 rated manufacturing ERP software Plex Online, today announced that Mike Twarozynski, the company's chief financial officer (CFO), has been named CFO of the Year by Crain's Detroit Business. 

Twarozynski will accept his award at a celebration at the Henry Ford in Dearborn on Wednesday, June 16. Seven winners and five finalists will be honored in a variety of categories. Twarozynski's award is in the category of "private companies with less than $50 million in annual revenue." The winners were announced in print and online in the May 24 issue of Crain's Detroit Business.

On behalf of all Plex Systems employees, President and CEO Mark Symonds applauds the recognition, noting that Twarozynski was instrumental in introducing a subscription-only pricing model for customers.

"This model reduces the large upfront investments typically made by new customers, spreading the pricing out over a monthly subscription arrangement," Symonds noted. "This decision has driven double-digit increases in sales as more and more customers, facing economic challenges, have chosen Plex Online as a way to upgrade and replace systems without significant upfront capital investment."

Twarozynski has also been the key person behind the financing of Plex Systems' planned expansion. In late 2008, the MEDC approved a state tax credit for the company, valued at $7.98 million over ten years, for an Auburn Hills expansion. Plex Systems plans to invest $3.9 million and create 298 new direct jobs and 488 spin-off jobs. It has already refurbished an existing 20,000 building in order to accommodate its growing workforce, and hosted the building's ribbon-cutting in April.

Twarozynski's financial leadership has the confidence of Plex System's backers. In September 2009, its owners invested an additional $5.25 million to accelerate the company's growth.

For details, see http://www.crainsdetroit.com/article/20100523/AWARDS/305239977/#.

About Plex Systems, Inc.
 Plex Systems, Inc. is the developer of Plex Online, a software as a service (SaaS) solution for the manufacturing enterprise and the only solution to achieve the prestigious Champion ranking in Aberdeen Group's 2009 ERP in Manufacturing AXIS report. Plex Online offers industry-leading features for virtually every department within a manufacturer, including Manufacturing Execution Systems (MES) and Quality Management Systems (QMS) for the shop floor, Customer Relationship Management (CRM) for sales and marketing, Supply Chain Management (SCM) for procurement, and Enterprise Resource Planning (ERP) for finance and management. Plex Online's fully integrated model delivers a "shop floor to top floor" view of a manufacturer's operations, enabling management to run its business at maximum efficiency. Founded in 1995, Plex Systems is headquartered in Auburn Hills, Michigan, with customers around the globe. More information is online at www.plex.com.

Plex Systems and Plex Online are trademarks of Plex Systems, Inc.

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