Nortech Systems | August 31, 2020
Nortech Systems Incorporated, a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, aerospace & defense and industrial markets, announced that it has completed the sale and leaseback transactions for its manufacturing facilities in Bemidji and Mankato, Minnesota at a sale price of $6.3 million. The proceeds from the sale will be used to pay down debt as well as related expenses and taxes.
Concurrent with the closing on the sale, Nortech entered into long-term lease agreements for the Bemidji and Mankato, Minnesota facilities for an initial 15-year term, with multiple renewal options. "We are pleased with the successful execution of this sale and leaseback transaction which generated significant net cash proceeds. Following the debt repayment, Nortech’s balance sheet and working capital is positioned for investments in capital equipment and strategic initiatives," stated Jay D. Miller, Chief Executive Officer and President.
Oden Technologies | November 10, 2021
Oden has announced the availability of Oden's advanced manufacturing analytics platform on the PTC Marketplace. The integration with PTC’s ThingWorx IIoT platform enables manufacturers to leverage Oden’s pre-built analytics suite to drive performance and quality improvements faster, extending the value of the ThingWorx IIoT platform.
With this integration, companies can utilize prescriptive guided analytics to increase performance, reduce variability, and improve quality. Oden’s predictive alerting helps manufacturers avoid producing bad quality products or underperforming by enabling proactive process changes. As a pre-built suite of tools, customers can augment their existing operations and decrease time-to-value.
“Digital transformation is a journey, and Oden’s pre-built analytics help manufacturers take initial steps to drive fast ROI without a massive transformation. PTC’s ThingWorx and suite of other capabilities lay the foundation and provide the building blocks for larger transformation journeys,Partnering with PTC supports ThingWorx users and enables a faster ROI on their digital transformation initiatives with pre-built analytics. We are excited to be part of this foundation and drive continued success together.”
Willem Sundblad, co-founder and CEO of Oden Technologies
“We’re pleased to welcome Oden Technologies to the ThingWorx Ready Program,” said Jonathan Kateman, senior vice president, Strategic Alliances at PTC. “Our network of technology partners allows us to offer our customers and partners innovative resources that can add value to their IIoT solutions and accelerate time to business value.”
Oden is a manufacturing analytics platform that helps manufacturers find the best actions to take and enables them to take those actions faster to improve operations. Oden leverages existing automation, quality and business data to highlight areas for process improvement and recommends changes to process settings to improve performance and quality. Utilizing predictive analytics, Oden helps operations maintain ideal performance and avoid producing scrap. With a pre-built platform and machine learning models, Oden provides ROI to customers in under 60 days and can be scaled across a global enterprise in 12 months.
Fujitsu | August 07, 2020
Fujitsu announced a new version of the Fujitsu Manufacturing Industry Solution COLMINA Digital Production Preparation VPS, a series of tools developed by Digital Process Ltd. to support the digitization of production preparation tasks in manufacturing. Sales will commence for the Japanese market today, August 5, with availability in international regions including Central Eastern Europe at a later date.
In this version, Fujitsu has enhanced the function for creating a Bill of Process that stores and manages data hereafter referred to as process information such as parts, work procedures, locations, equipment and tools, and manufacturing know-how used in product assembly in product preparation processes. This enables high-quality, efficient production by leveraging valuable data on product assembly to help customers get products to market faster and more competitively.
By promoting the digitization of the production preparation process in the manufacturing industry through VPS (Virtual Product Simulator), Fujitsu will ultimately support the continuity of its customers’ businesses by furthering their DX (Digital Transformation) efforts as they transition to a “New Normal,” amidst measures to prevent the spread of COVID-19.