Ivara acquires rights to reliability technologies

By Staff May 18, 2007

Ivara Corporation has entered into agreements with Andrew Jardine of the University of Toronto and the Centre for Materials and Manufacturing to acquire the rights to reliability technologies developed by Jardine and commercialized by the CMM. The technology offers customers statistical capabilities that enable them to make more informed decisions regarding asset repair, replacement and preventative maintenance strategies and will be embedded into Ivara’s reliability solution, Ivara EXP.

This isn’t the first time that Ivara, Jardine %%MDASSML%% a professor of industrial engineering and an authority in the fields of maintenance and reliability %%MDASSML%%mobile and fixed assets and help determine the best option in repair versus replace situations. PM optimization technology uses information about a component’s failure and operating cost history and applies reliability trend and Weibull analyses to identify failure patterns and determine theoptimal replacement policy. Capital and emergency spares optimization technology determines optimal stocking levels for high-value critical spares by balancing the expense of capital spares against the risk of unexpected failure.

“By embedding these unique technologies into our offerings, we are empowering our customers with the industry’s most advanced statistical tools that enable strategic maintenance decisions and take equipment reliability to the next level,” said Gerry Bleau, president and CEO of Ivara Corporation.