Burlington, ON – December 11, 2014 – Astrix Networks Inc., operating as Memex Automation (TSX-V: OEE) (“Memex” or the “Company”) has closed a non-brokered private placement totaling $348,000. A total of 2,900,000 Units were issued at a price of $0.12 each (“Units”). Each Unit is comprised of one common share in the capital of the Company (a “Common Share”) and one-half of one common share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder to purchase one Common Share at a price of $0.16 at any time prior to 4:00 p.m. (Eastern Time) on December 12, 2016.
In connection with the private placement, the Company paid a finder’s fee on certain subscriptions of 6% of the proceeds raised via brokers and issued broker warrants (the “Broker Warrants”) equal to 6% of the number of Units sold. The total fees paid were $9,744 in cash and 81,201 Broker Warrants. Each Broker Warrant entitles the holder to purchase one Common Share at a price of $0.16 at any time prior to 4:00 p.m. (Eastern Time) on December 12, 2016. All securities issued are subject to a hold period, which will expire on April 12, 2015. The closing is subject to receipt of final approval from the TSX Venture Exchange.
As part of this placement, the Company’s newest Executive, Rick Mosca, now Chief Operations Officer of Astrix Networks America Inc., subscribed for 13% of the placement. Mr. Mosca is an IT executive with special expertise in leading all facets of business including client facing revenue development, sales channel development, applications development and enterprise systems delivery.
“I first became aware of Memex through my relationship with AMT as a member of the Technical Advisory Group of MTConnect,” explains Rick Mosca. “With a multi-year line of sight of the MTConnect products in development, it became clear to me that MERLIN is the most complete and robust forward and backward compatible solution. Based on my experience and industry knowledge, I am convinced that MERLIN has the potential to become the industry leading MTConnect-based MES solution, and I am thrilled to be joining this team as its American COO.”
“It is with great pleasure that I welcome Rick Mosca to the Memex senior management team as the COO of our American subsidiary,” reports David McPhail, CEO. “Rick brings with him a wealth of global experience and a proven track record of building effective, profitable and lasting relationships at the CXO level within the Fortune 500.”
About Memex Automation
Memex Automation (TSX-V:OEE) is the leader of manufacturing Machine to Machine (M2M) productivity solutions and the measurement of Overall Equipment Effectiveness (“OEE”) in real-time. OEE is the measurement of plant-wide capacity utilization. MERLIN (Manufacturing Enterprise Real-time Lean Information Network) generates OEE enterprise-wide, plant by plant, machine by machine. As published in Automation.Com in July 2014, by using MERLIN in its 800,000 square foot Kentucky plant, Mazak, the largest machine tool builder in the world, increased the utilization of its own machines by 42%, and now offers MERLIN on their price list. Okuma America Corporation, a world leader in CNC machine tools, announced in April 2014 that Memex Automation became a Partner in THINC. On April 15, 2014, PEM awarded the Company the 2014 Plant Engineering & Maintenance Award for ‘Best Company Under 50 Employees.’ Frost & Sullivan awarded MERLIN its 2013 Technology Innovation Leadership Award for Machine Monitoring. Microsoft picked MERLIN to be its mid-market ERP machine connectivity solution. For more information, please visit: www.memex.ca.
For more information, please contact:
Memex Automation Inc.
John Rattray, VP Sales and Marketing
Phone: 905-635-0590
Email: jrattray@memex.ca
Thomas Smeenk, VP Business Development
Phone: (905) 536-3138
E-mail: thomas.smeenk@memex.ca
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.
To see the full article, please click here.
NTMA Plant Managers Roundtable
/in EventsMemex Automation’s Dave Edstrom will be attending the NTMA Plant Managers Roundtable on Wednesday January 28, 2015, hosted by Makino. The event will take place at 7680 Innovation Way, Mason, OH, 45040, from 8:00 am – 4:30 pm.
Join other Plant Managers from NTMA member companies and discuss the Machining of Aerospace Alloys, Robotics, Metrics and MTConnect. Dave Edstrom, former President and Chairman of the MTConnect Institute, will be speaking about how global leaders can address and solve the Last Meter Connection and learn to connect anything on the shop floor.
For more information, please click here.
Thank you James!
/in BlogAll the employees at Memex Automation would like to take a minute to thank and recognize our very first software developer co-op student, James Li, from the University of Waterloo.
James started for us this past fall in a full time co-op position as a software developer. In the months that James was with the Memex Software Development Team, he managed to work on number of critical projects for us. James setup a new world-class continuous testing environment, created a configuration and capacity testing tool for MERLIN that allows us to properly gauge unlimited workloads as well as wrote numerous pieces of software for our future MERLIN 3.0 Manufacturing Executive System (MES) platform such as security modules, software metric widgets and many other impressive pieces of software. Not only did he complete every task he was given ahead of schedule, but these assignments were extremely well designed and well written, and he did so with such enthusiasm that it was an absolute joy to have him on our team.
James Li is a talented young man and we very proud to say he was our first co-op student at Memex Automation!
We wish James all the best! (And sincerely hope that he comes back full time!)
Love from,
The Memex Team
Looks like they had a great time!
Determining the Connection Between Real-time Income and Plant Performance
/in ArticlesFrasers – Network affiliate of Canadian Manufacturing.com – December 15, 2014 – There are two questions that anyone in manufacturing management needs to know – “How well is my plant running?” and “Am I making money?”
Manufacturing management needs a proven methodology to determine the profit dollar value of their decisions, connecting the plant floor to the income statement in real-time. Financial Overall Equipment Effectiveness (FOEE) can accurately quantify where a manufacturing company is making or losing money on a per part and per machine basis.
The foundation for Financial OEE starts with the metric Overall Equipment Effectiveness (OEE). OEE is defined as Availability multiplied by Quality multiplied by Performance. For example, world-class OEE is 85 per cent with each of the three factors being at 95 per cent. While OEE is certainly an important metric, it tells management absolutely nothing about the financial side of manufacturing. If you don’t know the relationship of the financials to OEE, the ability to laser target where to start to maximize profit potential is non-existent.
The bridge across OEE to Financial OEE is constructed with a few key planks that can be visualized as connecting the specific details on what is happening on the shop, at the per part level, per machine or manufacturing asset basis, to your income statement.
On the shop floor side of the bridge are the following inputs into Financial OEE:
Manufacturing management and operators alike are using shop floor monitoring systems to track the making of parts to improve their equipment utilization. As plants and shops start to utilize real-time data to monitor their shop floors, the next logical question is: “What are the financial impacts of the decisions that occur on the manufacturing floor?” In order to answer that question, we need to build the other side of our Financial OEE bridge.
On the financial side are the following inputs into Financial OEE:
There are many ERP systems being used today in shops and plants. The ability to speak to these systems in real-time in a bidirectional fashion is critical to the success of Financial OEE.
The true benefits from Financial OEE come when questions such as the following are asked, and ultimately answered, by a thorough understanding of this key FOEE relationship.
Financial OEE allows leadership teams to see exactly how much “hidden factory” exists. Current profit will be more accurate and future profit projections based on projected volumes and upcoming product mixes will be much more realistic.
To read the full article, written by David McPhail, president and CEO, Memex Automation, and Dave Edstrom, CTO, Memex Automation, please click here.
To read the full article from Frasers, please click here.
Rick Mosca Joins Memex as Chief Operations Officer, USA, and Subscribes to Latest Non-brokered Private Placement
/in ArticlesBurlington, ON – December 11, 2014 – Astrix Networks Inc., operating as Memex Automation (TSX-V: OEE) (“Memex” or the “Company”) has closed a non-brokered private placement totaling $348,000. A total of 2,900,000 Units were issued at a price of $0.12 each (“Units”). Each Unit is comprised of one common share in the capital of the Company (a “Common Share”) and one-half of one common share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder to purchase one Common Share at a price of $0.16 at any time prior to 4:00 p.m. (Eastern Time) on December 12, 2016.
In connection with the private placement, the Company paid a finder’s fee on certain subscriptions of 6% of the proceeds raised via brokers and issued broker warrants (the “Broker Warrants”) equal to 6% of the number of Units sold. The total fees paid were $9,744 in cash and 81,201 Broker Warrants. Each Broker Warrant entitles the holder to purchase one Common Share at a price of $0.16 at any time prior to 4:00 p.m. (Eastern Time) on December 12, 2016. All securities issued are subject to a hold period, which will expire on April 12, 2015. The closing is subject to receipt of final approval from the TSX Venture Exchange.
As part of this placement, the Company’s newest Executive, Rick Mosca, now Chief Operations Officer of Astrix Networks America Inc., subscribed for 13% of the placement. Mr. Mosca is an IT executive with special expertise in leading all facets of business including client facing revenue development, sales channel development, applications development and enterprise systems delivery.
“I first became aware of Memex through my relationship with AMT as a member of the Technical Advisory Group of MTConnect,” explains Rick Mosca. “With a multi-year line of sight of the MTConnect products in development, it became clear to me that MERLIN is the most complete and robust forward and backward compatible solution. Based on my experience and industry knowledge, I am convinced that MERLIN has the potential to become the industry leading MTConnect-based MES solution, and I am thrilled to be joining this team as its American COO.”
“It is with great pleasure that I welcome Rick Mosca to the Memex senior management team as the COO of our American subsidiary,” reports David McPhail, CEO. “Rick brings with him a wealth of global experience and a proven track record of building effective, profitable and lasting relationships at the CXO level within the Fortune 500.”
About Memex Automation
Memex Automation (TSX-V:OEE) is the leader of manufacturing Machine to Machine (M2M) productivity solutions and the measurement of Overall Equipment Effectiveness (“OEE”) in real-time. OEE is the measurement of plant-wide capacity utilization. MERLIN (Manufacturing Enterprise Real-time Lean Information Network) generates OEE enterprise-wide, plant by plant, machine by machine. As published in Automation.Com in July 2014, by using MERLIN in its 800,000 square foot Kentucky plant, Mazak, the largest machine tool builder in the world, increased the utilization of its own machines by 42%, and now offers MERLIN on their price list. Okuma America Corporation, a world leader in CNC machine tools, announced in April 2014 that Memex Automation became a Partner in THINC. On April 15, 2014, PEM awarded the Company the 2014 Plant Engineering & Maintenance Award for ‘Best Company Under 50 Employees.’ Frost & Sullivan awarded MERLIN its 2013 Technology Innovation Leadership Award for Machine Monitoring. Microsoft picked MERLIN to be its mid-market ERP machine connectivity solution. For more information, please visit: www.memex.ca.
For more information, please contact:
Memex Automation Inc.
John Rattray, VP Sales and Marketing
Phone: 905-635-0590
Email: jrattray@memex.ca
Thomas Smeenk, VP Business Development
Phone: (905) 536-3138
E-mail: thomas.smeenk@memex.ca
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.
To see the full article, please click here.
Are your machines as productive as they can be? This tool can find out.
/in ArticlesFrasers – Network affiliate of Canadian Manufacturing.com – December 11, 2014 – “If you can measure it, then you can manage it.” That’s the motto of Burlington, Ont.-based Memex Automation, a leader in the connection, monitoring and management of machines, sensors and processes in manufacturing.
The company’s MERLIN OEE tool monitors machines in real-time.
“To be able to visualize how quickly your machines are operating allows you to react quickly to situations,” the company says. “Measuring what actually happens on the shop floor allows you to fine tune your processes using Lean manufacturing techniques. By applying the Theory of Constraints principle to monitoring and identifying a constraint, you can improve operator productivity and satisfaction by helping them perform faster, reduce their data collection overhead, all by using automatic and accurate tracking systems. Overall Equipment Effectiveness (OEE) is the key performance indicator that drives this machine monitoring process forward.”
There are many clear benefits to machine monitoring. Users can see the productivity and increased profitability as it happens in real-time, and identify problems fast. This can increase plant-wide productivity in the range of 10 to 50 per cent. Dashboard metrics are available for everyone on the shop floor to see, and it’s a time-saving, money-saving solution that will increase productivity and profitability in the long run
MERLIN is designed to monitor every machine in your shop — CNC machines, non-CNC machines, fabrication centres and manual processes — all tied together in a production process manufacturing execution system.
MERLIN OEE solution software can find every little area for improvement in your cycle times to best utilize your machines. It knows when the machines are in cycle and when they are not in cycle, and what is causing the machine to slow down. While most companies believe they are operating to their full capacity, it turns out they are, in fact, far from it. MERLIN OEE will show you that there is always room for improvement, and you will always be able to operate faster, and more efficiently, than you already are.
If you can identify the constraints (where the bottlenecks are happening in the production process), then you can improve your throughput and increase your overall profitability.
To see the full article, please click here.