-- Integrated data and a common risk matrix combined to optimize asset performance management
ROANOKE, Virginia, Aug. 5, 2015 /PRNewswire/ -- Meridium®, Inc. (www.meridium.com), the global leader in asset performance management (APM) software and services, today announced that EQUATE Petrochemical Company (www.equate.com), Kuwait's first international joint-venture in this industry, has implemented the following Meridium solutions: APM Strategy, APM Mechanical Integrity, APM Failure Elimination, and APM Safety to place a greater focus on increasing asset reliability.
EQUATE is the single operator of Greater Equate JV, which includes The Kuwait Styrene Company (TKSC), Kuwait Paraxylene Production Company (KPPC) and The Kuwait Olefins Company (TKOC), under one fully integrated operational umbrella at Kuwait's Shuaiba Industrial Area. EQUATE produces polyethylene, polypropylene, ethylene glycol, styrene monomer, polypropylene and paraxylene for customers in the Middle East, Europe, Asia and Africa.
According to EQUATE Vice President of Operations Bob Brandt, "EQUATE's mission is to maximize shareholder value by providing quality products and services to our customers. We chose Meridium Enterprise APM to help enable and sustain reliable plant operations. This integrated solution also assists us in applying internationally accepted techniques, including RCM, FMEA, RBI and SIS management, to improve asset reliability, increase overall safety and aid in making better informed design, operation and maintenance decisions. We are proud to be partners in success with Meridium."
Moving from point solutions to Meridium APM ensures that EQUATE's asset strategies and maintenance plans are managed efficiently and effectively. The goal of the EQUATE APM initiative is to achieve operational excellence by mitigating risk and optimizing cost through intelligent asset strategies.
"Asset reliability is key to an organization committed to providing reliable products and services," said Hady Onk, Meridium VP Services - EMEA. "Consolidating current legacy systems and providing training in APM will enable EQUATE to optimize asset availability and maintenance costs by making informed operational decisions more quickly."
Established in 1995, EQUATE Petrochemical Company is an international joint venture between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). Commencing production in 1997, EQUATE is the single operator of a fully integrated world-scale manufacturing facility producing over 5 million tons annually of high-quality petrochemical products which are marketed throughout the Middle East, Asia, Africa and Europe. www.equate.com.
Meridium is the global leader in asset performance management (APM) software and services for asset-intensive industries. Meridium increases the availability of assets, improves safety, optimizes cost and lowers risk for our global clients in more than 80 countries with more than 1,200 licensed sites around the world. Through our unique software developed in collaboration with our clients, we predict and prevent asset failures with intelligent asset strategies. Founded in 1993 and headquartered in Roanoke, VA (USA), with offices around the world, Meridium is the pioneer of APM and continues to drive innovation, leveraging the data from sensors, devices, systems and smart equipment to minimize unplanned events, incidents and downtime.
SOURCE Meridium, Inc.