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SABIC Chooses Meridium for Asset Performance Management System

Posted on: Tuesday, 20 January 2009, 05:00 CST

ROANOKE, Va., Jan. 20 /PRNewswire/ -- Meridium, the global leader in asset performance management (APM) software and solutions, announced today that Saudi Basic Industries Corporation (SABIC) headquartered in Riyadh, Saudi Arabia, signed an agreement to license Meridium. The agreement was signed on 11th November 2006. Saudi Business Machines (SBM), Meridium's partner in Saudi Arabia, is assisting Meridium in the implementation for the SABIC project. SABIC comprises one of the largest Meridium corporate implementations and the most comprehensive in the Middle East/Africa (MENA) region.

With growing competition, SABIC recognized the need of applying a reliability program to maximize its profitability, hence, the SABIC Total Reliability Program (STRP4) was initiated. The objectives of this program are to achieve maximum efficiency and effectiveness of assets.

As part of the overall project, in addition to training/consulting services, Meridium is providing an array of APM software and services including:

• Reliability Centered Maintenance / Failure Modes and Effects Analysis
• Risk-Based Inspection
• Reliability Instrumented Systems
• Root Cause Analysis
• Metrics and Key Performance Indicators
• Reliability Analytics
• Production Incident Tracking
• Bi-Directional Interface to SAP
• Reliability consulting services, facilitations, and workshops
• Implementation and training services

According to Bonz Hart, Meridium founder and CEO, "Meridium is pleased to be continuing our success in the Middle East with a company like SABIC that has put such emphasis on developing comprehensive asset reliability and overall operational excellence. We're looking forward to working on this major project with SBM, as our strategic implementation partner. SABIC's choice of Meridium for this project reinforces that reliability and availability initiatives must align with business objectives in order for companies to be successful and profitable."

About Meridium

Meridium Inc. is the global leader in asset performance management solutions for process, power, mining and discrete manufacturing industries. With Meridium software and services, companies will accelerate profitability through effective asset strategies, thus increasing asset reliability and improving the performance of their production assets. Developing or improving these asset strategies also has a direct, positive impact on operational excellence by reducing financial, health and safety, and production risk; optimizing maintenance costs; ensuring regulatory compliance and decreasing the potential for undesirable incidents. Industry leaders such as Chevron, LyondellBasell, Marathon Oil, Anglo Platinum, and Xcel Energy rely on Meridium for enterprise wide asset performance. Meridium is headquartered in Roanoke, VA, USA, with regional offices in Houston, TX, USA; Dubai, UAE; Walldorf, Germany; and Perth, Australia. www.meridium.com

About SABIC

The world's 5th largest petrochemicals company, SABIC (Saudi Basic Industries Corporation), with headquarters in Riyadh, Saudi Arabia, was founded in 1976, when the Saudi Arabian government decided to use the hydrocarbon gases associated with oil production as raw materials to produce chemicals, polymers and fertilizers. The Saudi Arabian government owns 70% of SABIC shares with the remaining 30% held by private investors in Saudi Arabia and other Gulf Cooperation Council countries. SABIC's businesses are grouped into six strategic business units, supported by corporate departments and a shared services organization. The SBUs are Basic Chemicals; Polymers; Intermediates; Fertilizers; Specialty Products and Metals. Visit www.sabic.com for more information.

About SBM

Saudi Business Machines Ltd. (SBM), is the general marketing and services representative for IBM in the Kingdom of Saudi Arabia. Meridium has appointed SBM as our exclusive partner and sole representative in the Kingdom of Saudi Arabia, helping leading companies in that country to achieve greater asset performance management. SBM's professional services organization consists of an integrated set of services covering professional consultancy, eBusiness solutions, systems integration, project management, strategic outsourcing, business intelligence services, enterprise resource planning and education & training. These services are individually tailored to meet specific customer needs and the company thrives on providing value added customer service and business benefits through its well developed intellectual capital.

SOURCE Meridium Inc.

Source: PR Newswire

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