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Meridium Announces Partnership With APT to Deliver the World's Largest Asset Strategy Library for Industrial Equipment

Posted on: Tuesday, 24 March 2009, 05:00 CDT

Meridium customers can now expedite their asset strategy development efforts and deliver faster ROI by leveraging APT's Asset Strategy Library in Meridium's ASM module.

ROANOKE, Va., March 24 /PRNewswire/ -- Meridium Inc., the global leader in asset performance management (APM) software and consulting solutions, today announced that it entered into a partnership with Asset Performance Technologies, Inc. (APT) for the integration of APT's library of industry best practices for equipment failure modes and preventative maintenance activities. The APT content is currently in use in power generation, oil & gas processing, and other major industries.

The APT Asset Strategy Library contains fully defined failure modes and preventative maintenance plans for more than 200 equipment classifications, which are utilized in a broad range of industries served by Meridium's Asset Performance Management solutions. The APT Strategy Library also represents more than 13,000 failure modes and 1,400 preventative maintenance activities which have been developed and refined over the last 13 years through structured engineering reviews and assessments by panels of maintenance experts from multiple plants and equipment vendors.

According to David Worledge, CEO of APT, "Most traditional RCM methods for preventative maintenance improvement start with a blank sheet of paper. They simply aren't practical for large scale deployment in real production environments. That's why we created the APT Asset Strategy Library. Now, maintenance and reliability engineers can start with an expert-recommended strategy that has a sound technical basis for the tasks and intervals."

In conjunction with Meridium's Asset Strategy Management (ASM) solution, the APT Asset Strategy Library allows Meridium customers to quickly define an optimized strategy by leveraging the failure mode and preventative maintenance activity content within the library, applying it to the asset and making the appropriate adjustments for operating context, organizational risk and cost goals. The completed asset strategy can easily be transferred to corporate EAM or CMMS systems, such as SAP, using Meridium's Asset Strategy Implementation (ASI) module.

According to Joe Nichols, Meridium's Vice President of Product Strategy, "Our customers are already realizing significant value by centrally defining and optimizing asset strategies across their organizations. With the addition of the APT Asset Strategy Library to the Meridium APM software, clients can now accelerate the definition, standardization and implementation of best practice asset strategies to optimize the performance and operational costs of their assets while minimizing corporate risk."

APT will join Meridium for a power-focused conference, co-hosted with Xcel Energy, on May 5 in Denver. For more information, visit www.meridiumconference.com.

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 Asset Performance Technologies

Asset Performance Technologies (APT) produces the revolutionary PRO-M solution that combines a unique optimization module with the world's largest PM library for industrial equipment to rapidly optimize any PM program. PRO-M sets the standard for Economic Based Maintenance (EBM) by dynamically adjusting to changing business conditions, plant requirements, and market economics. It can be used as a standalone solution or to support corporate PM improvement efforts. Learn more at www.assetperformanceinc.com.

SOURCE Meridium Inc.

Source: PR Newswire

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