30 Jun 2011 07:00
30 June 2011
Brady plc ("Brady")
New Contract
Brady plc (BRY.L), the leading global supplier of trading, risk management and settlement solutions to the metals, energy and softs sectors, announced today that a subsidiary of Holmarcom Group, a diversified Moroccan holding company, has opted to install a Brady solution to manage its grain trading positions as well as to manage the complete supply chain management cycle for its grains logistics from the field to the ultimate delivery point.
Following the liberalisation of the grain market in Morocco, Holmarcom, ranked fourth largest holding company in Morocco by 2007 revenue, created a subsidiary in 2001, which became the first privately-owned grain trading company in the country. Following on, the company diversified into the unloading and warehousing of grains. The Group now runs two terminals at the ports of Casablanca and Jorf Lasfar Holmarcom, which already handle 2.7 million tonnes of cargo annually and their aim is to optimize their logistics activities by increasing the grain trading, to generate 1.5 million tonnes of grain traffic per year through the port. This is the reason behind the decision of the grain trading arm of Holmarcom to select the Brady solution to monitor the entire supply chain management from the grain fields to the customers.
Holmarcom's primary drivers for employing the Brady product suite for its grains business are to integrate a multi-currency system for its physical trading contracts, producing sales and purchase contracts, detailed position reports, including p & l, complete logistics reports, involving the full traceability from storage silos to final delivery destination, automated customer billing, document management, detailed accounting requirements for the trading activities, with consolidated accounts for the subsidiary companies, a speedy implementation period adhering to best practice in the grains markets.
For further information please contact:
Brady plc Gavin Lavelle, Chief Executive Officer Tony Ratcliffe, Finance Director | Telephone: +44(0)1223 479479 |
Cenkos Securities plc Ivonne Cantu / Camilla Hume
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Telephone: +44 (0)20 7397 8900 |
Redleaf Polhill Samantha Robbins | Telephone: +44 (0)20 7566 6720
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About Brady
Brady plc (BRY.L) is a leading global provider of trading and risk management software to the worldwide commodity and energy markets. Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined metals, softs and agriculturals.
Brady has 25 years' expertise in the commodity markets with over 150 customers worldwide, including some of the largest financial institutions, producers and mining corporations which depend on Brady's software solutions to deliver vital business transactions across their global operations. Brady clients include many of the world's largest miners, refiners and producers, trading companies, tier one banks and a large number of London Metal Exchange (LME) Category 1 and 2 clearing members and many leading European energy generators, traders and consumers. For further information visit: www.bradyplc.com
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