Technology for overhauling production lines will be licensed to others
Cincinnati, Ohio, Mar. 16, 2001 -- The Procter & Gamble Company (P&G) has licensed a proprietary technology for imp...
Cincinnati, Ohio, Mar. 16, 2001 — The Procter & Gamble Company (P&G) has licensed a proprietary technology for improving manufacturing efficiency to a Fortune 500 company — and is exploring licensing opportunities for this technology with a range of other companies.
The technology, called Reliability Engineering, has enabled P&G to realize significant savings in manufacturing costs over the past decade. It consists of a “toolbox” containing 23 ways to overhaul virtually any production line. Internally, P&G has dubbed the project “Vulcan” — after the Roman god of craftsmanship.
The undisclosed licensee plans to use the Vulcan technology in its manufacturing processes to reduce costs and increase efficiencies. The licensee is expected to save millions of dollars over the next decade by using this technology, but has elected to remain anonymous for now for competitive reasons.
The agreement is part of P&G’s ongoing program to fully leverage its intellectual property. “By making our technologies available to others, we can greatly extend their benefits, well beyond our brands, and maximize the investment we’ve made for our shareholders,” said Jeffrey D. Weedman, vice-president of external business development & corporate licensing for P&G.
Weedman said this contract marks the first of what P&G expects will be many customers for its Vulcan technology, which can be adapted to any manufacturing process in virtually any industry.
For more information, call P&G at 877 932 2949 or visit www.pg.com.