Dave Edstrom Joins Memex Automation as Chief Technology Officer and Purchases Equity Interest
30 Enero 2014 - 3:01PM
Marketwired
Dave Edstrom Joins Memex Automation as Chief Technology Officer and
Purchases Equity Interest
BURLINGTON, ON--(Marketwired - Jan 30, 2014) - Astrix Networks
Inc., operating as Memex Automation ("Astrix" or the "Company")
(TSX-VENTURE: OEE), is pleased to announce that Dave Edstrom,
recently past President and Chairman of the Board of the MTConnect
Institute, has purchased an equity interest in the Company and has
joined the senior management team as Chief Technology Officer.
Edstrom brings decades of software experience to Memex
Automation and has been in a number of technology and leadership
roles for a range of companies. Prior to his new role, he served
for three and a half years as President and Chairman of the Board
of the MTConnect Institute, where he was instrumental in the
creation of the MTConnect standard.
In October 2006, while working at Sun Microsystems, Edstrom and
Dr. David Patterson of the University of California at Berkeley
(UCB), laid out the MTConnect vision at AMT -- The Association For
Manufacturing Technology's Annual Meeting. Edstrom is also the
author of the book "MTConnect: To Measure Is To Know" as well as a
prolific writer of white papers, technical and business articles.
Edstrom worked for Sun Microsystems for 23 years in a variety of
leadership positions, including as Chief Technologist for Global
Software, when he left to start his own company in 2010. Prior to
Sun Microsystems, Edstrom held a number of positions including
assembly language programmer, systems engineer, Principal Engineer,
as well as in computer hardware and software sales. His career
includes working with a broad range of software and hardware
technologies for commercial and government markets with both direct
sales and partners, and he retains his title of CEO/CTO at Virtual
Photons Electrons, LLC., his consulting firm.
The Company is pleased to announce it has closed the first
tranche of the private placement previously announced on January
15, 2014. Upon joining Memex Automation, Edstrom has purchased
1,114,500 units at a price of $0.14 each. Each unit is comprised of
one common share in the capital of the Company (a "Common Share")
and one warrant (a "Warrant"). Each Warrant entitles Mr. Edstrom to
purchase one Common Share at a price of $0.145 per share at any
time prior to 4:00 p.m. (Ontario time) on January 30, 2016. The
securities are subject to a hold period, which will expire on May
31, 2014. The closing is subject to receipt of final approval from
the TSX Venture Exchange.
Edstrom stated, "I have had the privilege of working with Memex
Automation on a variety of efforts when I was the President and
Chairman of the MTConnect Institute. I am absolutely convinced that
this company is positioned to become the global leader in its
vertical, helping manufacturers maximize utilization and gain
productivity. I am thrilled to be joining the Memex Automation team
as the Chief Technology Officer in an ownership position to drive
technology, create new opportunities, and help it become a global
power in manufacturing solutions."
"I'm delighted Dave has joined our ownership and leadership
team, as it enables him to continue to lead the global
manufacturing sector out of the 20th Century and into the 21st
Century with an MTConnect-based universal machine to machine (M2M)
productivity solution," said Memex Automation's President &
CEO, David McPhail. "This should signal to manufacturers globally
that Memex Automation is doing things right -- that using MERLIN,
our flagship product, they can connect their plants' points of
production to their business intelligence tools in real-time while
increasing production and income from operations by 10% or
more."
About MERLIN:
MERLIN translates all protocols such as Fanuc Focas, OPC and
MTConnect, an XML-based, open source, royalty free protocol into
information that management, engineering and maintenance teams use
to:
- Measure OEE in real-time, providing an objective voice of
process from each point of production, fabrication and
assembly
- Bucket "idle time" to its root cause and converts some of it
back into production time
- Capture and define quality issues by process step to define
poor quality root causes
- Define machining parameters, tolerances, conditions and
production flow on a SKU basis
- Optimize machine states and conditions, to increase spindle
time and asset utilization
- Increase production and thereby increase income from
operations
About the company
Operating under the trade name Memex Automation, Astrix Networks
Inc. (TSX-VENTURE: OEE) is the leader of the measurement of Overall
Equipment Effectiveness (OEE). OEE is the measurement of plant-wide
capacity utilization in real-time. MERLIN (Manufacturing Enterprise
Real-time Lean Information Network) generates OEE enterprise-wide,
machine by machine. Frost & Sullivan awarded MERLIN its 2013
Technology Innovation Leadership Award. Microsoft picked MERLIN to
be its mid-market ERP machine connectivity solution. Mazak, North
America's largest original equipment manufacturer of machine tools,
purchased MERLIN to manage its plant and now offer it on their
price list.
"Neither TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release."
For more information, please contact: Sales: John Rattray
Vice-President Sales 905-635-0590 Email
Contact Investors: Thomas Smeenk VP Business Development
905-536-3138 Email
Contact Media: Leanne Rattray Marketing 905-635-1540 ext. 103
Email Contact
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