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Primetals Technologies USA LLC Follow-On Purchase Order

October 29, 2019
BURLINGTON, ON / ACCESSWIRE / October 29, 2019 / Memex Inc. ("MEMEX" or the "Company") (TSX-V:OEE) a leader in Industrial Internet of Things (IIoT) manufacturing productivity software, announces a follow-on Purchase Order from Primetals Technologies, ...
BURLINGTON, ON / ACCESSWIRE / October 29, 2019 / Memex Inc. ("MEMEX" or the "Company") (TSX-V:OEE) a leader in Industrial Internet of Things (IIoT) manufacturing productivity software, announces a follow-on Purchase Order from Primetals Technologies, ...

BURLINGTON, ON / ACCESSWIRE / October 29, 2019 / Memex Inc. (“MEMEX” or the “Company”) (TSX-V:OEE) a leader in Industrial Internet of Things (IIoT) manufacturing productivity software, announces a follow-on Purchase Order from Primetals Technologies, a steel industry joint-venture between Mitsubishi Heavy Industries (MHI) and Siemens. The follow-on order is for a full plant roll-out of MERLIN Tempus Enterprise Edition at the company’s Sutton, MA facility over the next two years. Primetals Technologies has several additional plants, which may also see future MERLIN deployment after success with the current project. Primetals Technologies has been a customer of MEMEX since deploying its MERLIN DNC software back in 2017.

“We’re very pleased to expand our relationship with Primetals Technologies, a global provider of technology and services for the metals industry,” said David McPhail, CEO & President, MEMEX Inc. “Digital transformation of the steel industry (and manufacturing in general) is trending upwards as interest continues to grow for IIoT-centric, data-driven manufacturing solutions. We saw evidence of this in the record bookings we announced along with our third quarter financial results. MEMEX’s MERLIN Tempus has clearly demonstrated the ability to scale and uncover costly inefficiencies with both small and large manufacturers, and we look forward to demonstrating MERLIN’s expanded features not just to Primetals Technologies but to all of our valued customers and prospects.”

“Primetals Technologies is investing in a new state-of-the-art manufacturing plant in Sutton, MA, that will incorporate the latest in advanced technology including Industry 4.0 software and hardware tools from MEMEX,” said Bill Wheeler, Director of Operations. “We had a great experience when we initially adopted MEMEX’s MERLIN DNC software, which made choosing their IIoT product an easy decision for this expansion.”

About Primetals Technologies:

Primetals Technologies, Limited headquartered in London, United Kingdom is a worldwide leading engineering, plant-building and lifecycle services partner for the metals industry. The company offers a complete technology, product and service portfolio that includes integrated electrics, automation, digitalization and environmental solutions. This covers every step of the iron and steel production chain, extending from the raw materials to the finished product - in addition to the latest rolling solutions for the nonferrous metals sector. Primetals Technologies is a joint venture of Mitsubishi Heavy Industries (MHI) and Siemens. Mitsubishi-Hitachi Metals Machinery (MHMM) - an MHI consolidated group company with equity participation by Hitachi, Ltd. and the IHI Corporation - holds a 51% stake and Siemens a 49% stake in the joint venture. The company employs around 7,000 employees worldwide. Further information is available on the Internet at www.primetals.com.

About MEMEX:

Established in 1992, MEMEX grew to be an industry leader in Industry Internet of Things (IIoT) through the development of MERLIN Tempus, an award-winning platform that delivers real-time, tangible increases in manufacturing productivity. MEMEX is on the leading edge of industry trends in computing power, machine connectivity, industry standards, advanced software technology, and manufacturing domain expertise.

Our persistent pursuit of innovative IIoT solutions led to a comprehensive understanding of the challenge’s manufacturers face. We made it our mission to, “successfully transform factories of today into factories of the future.” As the global leader in Machine to Machine (M2M) connectivity solutions, our hardware and software products create unparalleled visibility at all levels, from “Shop-Floor-to-Top-Floor.”

The MERLIN Tempus Suite provides effective quantification and management of Overall Equipment Effectiveness (OEE) by revealing hidden capacity using real-time objective data. Further, it offers sustainable benefits that enable world-class OEE such as reducing costs, incorporating strategies for continuous LEAN improvement, and boosting bottom-line financial performance. For more information, please visit: www.MemexOEE.com.

For investor inquiries please contact:

Sean Peasgood, Investor Relations

647-977-9264

Rashi Rathore, Marketing Manager

905-635-1540

Forward-Looking Statement

The statement relating to the future delivery of products/services “Primetals Technologies has several additional plants which may also see future MERLIN deployment after success with the current project” is a forward-looking statement. However, there is no guarantee that any contemplated order will be placed or that if placed the Company could complete delivery. No forward-looking statements can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. 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.

SOURCE:Memex Inc.

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