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Monday, February 01, 2010
Plex Systems Reports 14 Percent Increase On Revenue, 21 Percent On Profit
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AUBURN HILLS – ERP software provider Plex Systems said its total revenue grew 14 percent in 2009 over 2008, and its profitability by 21 percent year-over-year. But the private company declined to disclose figures for revenue and profitability.
The company also announced that 29 new customers chose Plex Online, the leading software as a service ERP package for manufacturers, during 2009.>[?
“These new customers, along with expanded business from existing customers, led to our impressive revenue increases,” said Plex Systems President and CEO Mark Symonds. “The SaaS technology and business model that Plex Systems has pioneered is exceptionally well-suited for today’s economic challenges.”
“Plex Online’s flexibility and rapid implementations provide an accelerated time to value,” said Symonds. “Our product’s monthly subscription pricing allows manufacturers to replace outdated, costly ERP systems with industry-leading, integrated technology while avoiding large capital investments in servers, storage systems, and software licenses. Most importantly, Plex Online’s comprehensive functional footprint – from the shop floor to the top floor - enables manufacturers to perform at maximum efficiency and attain the highest possible profitability.”
Plex Systems’ new 2009 customers represent a variety of manufacturing industries – food processing, medical devices, automotive, aerospace/defense, industrial, and more – and locations in Europe, Asia and North America. The following are a few of the companies that joined in the fourth quarter and are implementing core Plex Online modules:
Liquor distiller – A Caribbean-based distiller will implement the complete Plex Online system.
Groeb Farms – Groeb Farms is the nation’s largest industrial and foodservice processor of honey, headquartered in Onsted, Michigan, with other locations in Belleview, Florida and Baytown, Texas. The company processes honey for sale and distribution to foodservice distributors, club stores and food manufacturing companies.
Plastic Trim International – This manufacturer of exterior automotive trim is headquartered in East Tawas, Michigan, with offices in Farmington Hills and Aguascalientes, Mexico.
Loc Performance – This Plymouth, Michigan-based company manufactures large CNC-machined components and assemblies for powertrain, chassis and suspension systems on military and commercial applications.
Many existing customers expanded their use of Plex Online during 2009, further contributing to Plex Systems’ growth. For example:
Powertrain Integration (a Whitebox Automotive Holdings Company) – This total system solution company for OEM engine and drivetrain manufacturers purchased additional Plex Online applications including ECR, PPAP, APQP Overview, Quality Compliance Module, Supplier PPAP, E-RFQ Tracking System & Accounting Jobs.
Wescast Industries – Following the launch of Plex Online at its locations in Canada and China, this global automotive casting and machining company purchased Plex Online for its remaining facilities, including locations in Europe and North America.
Magna Powertrain – Following successful launches at U.S. facilities, this automotive supplier purchased Plex Online for its Magna Powertrain de Mexico S.A. de V.C. location in Ramos Arizpe, Coahuila, Mexico.
In 2009, Plex Systems took several actions to ensure continued growth.
The company announced a new strategic alliance with EnteGreat, Inc., a leader in ERP software consulting, to expand Plex Online’s use among companies in the food, beverage, and life sciences industries. The alliance will increase application and awareness of the Plex Online solution as a solution enabling food, beverage, and life science processors, manufacturers and packagers to achieve best-in-class performance.
In September, Plex Systems’ current owners invested an additional $5.25 million to enable the company to build on its strong customer base, expand product development, and accelerate sales and marketing efforts.
The company’s growth will continue into 2010 and beyond. Utilizing a state tax credit approved through the MEDC’s Michigan Economic Growth Authority (MEGA) program, Plex System plans to invest $3.9 million and create 298 new direct jobs and 488 spin-off jobs over the next several years. The company is refurbishing an existing building that has been vacant for several years and expects to move in by March 31.
For more information, click on Plex.Com
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Author: Staff Writer
Source:
MITechNews.Com
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