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Contract Win

8th Jul 2010 07:00

RNS Number : 0185P
Brady plc
08 July 2010
 



For immediate release 8 July 2010

Brady plc

("Brady")

Contract Win

Brady plc (BRY.L), the leading global supplier of trading, risk management and settlement solutions for commodities, is pleased to announce that Xstrata Copper has chosen to implement Brady's leading risk management technology at an enterprise level across Xstrata Copper's operations and projects.

 

Xstrata Copper operates mines, concentrators, smelters and refineries at various locations in Canada, Argentina, Peru, Chile and Australia. Copper mining also produces valuable by-products, primarily gold and silver.

 

Greg Bews, Project Manager, Xstrata commodities, commenting on the new contract with Brady, said "For a number of years our business groups around the world have been using Brady for trading, risk management and hedging. We identified a strategic requirement to initiate an enterprise level of risk management and for a number of reasons we chose Brady. They exhibit a clear depth of knowledge of the complexities of commodity markets and, particularly, metals trading. We are confident that we will quickly see improved speed and efficiencies in our global risk management that will achieve long-term benefits for the group".

 

Gavin Lavelle, CEO of Brady Plc, said "Xstrata Copper is a massive global miner and we are proud to have them as clients for our trading and risk technology. However, this new deal has now elevated the relationship. Brady is now the critical technology at the core of Xstrata Copper's global risk management infrastructure and it is both a significant achievement and recognition of our industry-leading technology".

The enterprise use of Brady for risk management and hedging will include a fully integrated supply chain and risk management solution. The comprehensive range of features is capable of handling all stages of a transaction from front to back office and across derivatives, physicals including treasury, and regulatory requirements.

For further information please contact:

 

Brady plc

Gavin Lavelle, Chief Executive Officer

Tony Ratcliffe, Finance Director

Telephone: +44(0)1223 479479

 

Cenkos Securities Limited

Camilla Hume / Alex Aylen

 

 

Telephone: +44 (0)20 7397 8900

Buchanan Communications

Tim Thompson / Nicola Cronk / Chris McMahon

Telephone: +44 (0)20 7466 5000

 

 

 

About Brady

Brady plc (BRY.L) is a leading global provider of trading and risk management software to the global commodity 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 refined, unrefined metals, softs and energy. Brady has more than 20 years of expertise in the commodity markets with over 100 customers worldwide, including some of the largest financial institutions, producers and mining corporations that 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. For further information visit: www.bradyplc.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
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