31 July 2008, London: Brady plc (BRY.L), the leading supplier of trading and risk management solutions for metals and commodities, has announced today that Italian-based Prysmian S.p.a. (Prysmian), one of the world’s largest cable manufacturers, has selected Brady to support the organisation’s European risk management operations.
Prysmian Metals is the centralised risk management company that manages risk on behalf of all Prysmian’s European affiliates, and a Category 5 London Metal Exchange (LME) member. Brady’s solution will be used to manage Prysmian’s LME and other hedging requirements for copper, aluminium and lead. Brady’s specialist software had to undergo a rigorous assessment process and evaluation against other potential suppliers prior to the deal being confirmed.
“A key requirement of Prysmian was to enhance our risk management operations and automate many of the processes to enable us to manage our risk more effectively and comply with new regulations,” said Bernhard Uldrian, Head of Strategic Metals.“ We expect that Brady’s robust risk engine and Brady’s expertise and experience in providing specialised tools for trading and risk management of base metals will provide us with a solid foundation for the continuing development and growth of our business.”
Gavin Lavelle, CEO of Brady, comments: “We are delighted to have been chosen once again as the provider of risk management software. As one of the world’s largest cable manufacturers, Prysmian needs to have the best tools available in order to manage its risk. We are very much looking forward to working with them and being a part of their development.”
Editorial contact for Brady
Alla Lapidus
Moonlight Media
Tel: +44 (0) 20 7250 4770
Email: alla@moonlightmedia.co.uk
About Prysmian S.p.a.
A leading player in the industry of high-technology cables and systems for energy and telecommunications, the Prysmian Group is a truly global company, with sales that exceeded 5 billion Euro in 2007. With its strong position in the market segments characterised by the highest added value, the Group is active in the development, design, manufacturing, supply and installation of a wide range of cables for the most diverse applications in the energy and telecommunications sectors.
About Brady plc
Brady plc (BRY.L) is a leading provider of trading and risk management software for global commodity markets. On a single platform, Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from trade capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury management. Brady has more that 20 years of expertise in the commodity markets and more than 800 users worldwide, including some of the largest manufacturing organisations that depend on Brady’s software solutions to deliver vital business transactions across their international operations.