$500,000 of New Orders Received Since the Show
BURLINGTON, ON–(Marketwired – Oct 5, 2016) – Memex Inc. (“MEMEX” or the “Company”) (TSX VENTURE: OEE) announces that in the two weeks since the International Manufacturing Technology Show (IMTS) 2016, MEMEX has secured an aggregate of half a million dollars in new purchase orders. Purchase orders were received from a combination of new customers to MEMEX, as well as follow-on orders from existing MEMEX customers.
IMTS is the largest trade show of its kind in North America with over 115,000+ attendees and was held in Chicago, between September 12th to the 17th. Many large businesses shop for the best solution at IMTS and hold-off making any large capital purchases until after the trade show.
“MEMEX’s attendance at IMTS generated quality leads with the potential to connect thousands of machines for MEMEX over the next several years,” said David McPhail, MEMEX’s President and CEO. “We also had meaningful discussions with many potential industry leading partners, wanting to leverage the value offered by high-quality IIoT software, where we could jointly work with their salespeople to drive our products into major accounts.”
“We’ve seen a major transition within the manufacturing community that shows technology adoption future,” said John Rattray, Vice President of Sales. “At the last IMTS show two years ago, most manufacturers did not quite grasp the concepts of Real-Time OEE or Data-Driven Manufacturing. This year, prospects that visited our booth seemed to be far more in tune with the business value of Smart Manufacturing. The industry appears to be recognizing that IIoT technology is ‘game-changing,’ and they need it to stay competitive.”
MEMEX, the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the accelerating adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on the corporate networks, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement.
The statement “MEMEX’s attendance at IMTS generated quality leads with the potential to connect thousands of machines for MEMEX over the next several years,” is a forward-looking statement. This statement represents the number of manufacturing machines operated by the ‘quality leads’ generated from the IMTS Show. However, there is no guarantee that the quality leads will proceed with the purchase of MEMEX’s MERLIN communications platform. 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.
David McPhail, CEO
Rashi Rathore, Marketing Specialist
Phone: 905-635-3040 ext 103
Sean Peasgood, Investor Relations