Ivara Corporation

Ivara Corporation

March 17, 2005 12:21 ET

Sterling Steel Chooses Ivara to Improve Equipment Reliability; Projected Savings and Manufacturing Performance Improvements to Be Realized Progressively over the Next Three Years


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: IVARA CORPORATION

MARCH 17, 2005 - 12:21 ET

Sterling Steel Chooses Ivara to Improve Equipment
Reliability; Projected Savings and Manufacturing
Performance Improvements to Be Realized Progressively
over the Next Three Years

BURLINGTON, Ontario--(CCNMatthews - Mar 17, 2005) -

Ivara Corporation, an industry leader and innovator in asset reliability
solutions is announcing that it has partnered with Sterling Steel
Company, LLC to improve the steel manufacturer's equipment reliability.
Sterling Steel is a fully owned subsidiary of Leggett & Platt, a Fortune
500 organization. The asset reliability initiative will focus on
improving maintenance effectiveness and increasing asset performance,
ultimately with the goal of increasing equipment availability and
throughput, reducing plant downtime, lowering operating costs, and
optimizing spare parts inventory.

The steel industry today needs solutions that yield rapid results.
Global competitiveness is crucial to maintaining viability and thus the
longevity of existing assets. In this environment, Sterling Steel's
facility in Illinois is continuously challenged to contain costs while
increasing the output at its plant.

"Sterling Steel was looking for an industry leader with the
comprehensive expertise and technology to help improve asset reliability
and enhance the status of our overall maintenance system to
best-in-class," said Fred Rocchio, president, Sterling Steel. "Ivara's
solution will help Sterling Steel to realize financial benefits from
improved reliability practices and technologies that reduce maintenance
costs, while improving the efficiency and effectiveness of our operating
assets."

Sterling's implementation of Ivara's Reliability Driven Maintenance
Process, supported by Ivara's reliability expertise and reliability
software, Ivara EXP will enable Sterling Steel to move to a proactive
approach to maintenance. Sterling Steel expects to achieve significant
improvements in asset performance and maintenance effectiveness.
Typically, reactive work costs four to ten times more than proactive
work, with the inherent loss in production and the secondary damage
often caused by the failure.

With increased proactive condition monitoring, the process, once
implemented, will identify equipment problems early, intervening before
equipment fails and resulting in increased uptime. A proactive approach
to managing equipment failure will increase the level of discipline
associated with safety and environmental equipment inspections.

"Ivara is committed to Sterling Steel's goals of optimizing plant
effectiveness and output through a reliability strategy," said Bill
Shaw, president & CEO, Ivara Corporation. He added, "Ivara's reliability
software and services will enable Sterling Steel to implement a
proactive approach to maintenance, enabling Maintenance and Operations
to work together to manage the health of their assets and drive strong
business results."

About Sterling Steel

Sterling Steel produces 450,000 tons of wire rod for its parent Company,
Leggett & Platt. It was formed in 2002 when key assets were purchased
out of the bankruptcy of Northwestern Steel & Wire Company. The long
products mini mill was restarted in early 2003 utilizing a 400 ton EAF;
two Ladle Metallurgy Facilities; an eight strand Billet Caster and a
single strand Rod Mill to produce the wire rod for Leggett & Platt's
Wire Mills.

About Ivara

An industry leader and innovator in asset reliability solutions, Ivara
combines advanced software and unparalleled reliability expertise to
help customers achieve and sustain a proactive, reliability driven
approach to maintenance. Using a comprehensive blend of technology and
services, Ivara creates unique reliability solutions that align
equipment performance with clearly identified business goals for
increased revenue, operating output and safety. For more information
about Ivara, visit www.ivara.com.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Ivara Corporation
    Sandra DiMatteo, 905-632-8000 ext. 271
    Director of Marketing
    email: sandra.dimatteo@ivara.com