SIC is a process for driving production improvements during a shift and has been widely employed in manufacturing.
RPMGlobal CEO and managing director Richard Mathews said since the company bought a copy of the Fewzion Short Interval Control product 12 months ago it had been building the underlying architecture it needed to deliver a fully automated SIC system.
“Having the ability to automatically take live data feeds off our customers’ operational systems will dramatically accelerate our move into the SIC space, where real time plan versus actual performance is the goal,” he said.
“MinVu is the only company we know of who have built a comprehensive suite of standard integration adaptors across all key operational systems that operate in a mine.
“As such we believe the integration, data validation, structured operational data store and associated reporting will give RPM a commanding head start over other software vendors who decide they want to provide a mining SIC system in the future.”
MinVu is headquartered in Brisbane, as is RPM. It has been providing enterprise operational software to global customers for more than 18 years.
Development of the MinVu product has involved significant customer engagement since 1999.
This collaborative nature of development has resulted in a suite of integration adaptors and data validators being built.
The integration adaptors feed operational data into a structure operational data store that is used by more than 250 standard reports and real time dashboards.
The ability to connect and extract real time data from operational systems and turn that information into meaningful transaction based information is at the heart of the MinVu offerings.
This includes fleet management systems; dragline monitoring systems; dozer, loader and drill positioning systems; and onboard machine health systems.
All of this data can be extracted, validated and augmented to ensure the reports presented to operational management can be used with complete confidence.
MinVu cofounder and director Mike Taylor said he always wanted MinVu’s products to be integrated with leading production, costing and simulation programs and this transaction delivered that.
“We have been very impressed with RPM’s vision for the industry and the investment they are making in their products in what has been a difficult period for suppliers to the mining industry,” he said.
“We are convinced the MinVu product suite will benefit from increased investment and the sales and marketing support that RPM can offer it around the world.”
RPM shares added A2c to 67c, valuing the company at $138.4 million.