(Oslo, 5 March 2012) Hydro has extended three agreements with EDB ErgoGroup for the development, management and operation of Hydro's Commodity Trading System (CTS). The renewed agreements run for three years, with the option to extend for a further two years. The three agreements represent total contract value of NOK 17 million over three years.
"Hydro is an important customer for EDB ErgoGroup and we appreciate the confidence the company has shown in EDB ErgoGroup by choosing us as its supplier for a further three years. We have a long-standing and excellent relationship as a supplier to Hydro, and I look forward to developing this further during the life of these agreements", comments Håvard Larsen, Head of the Solutions business area at EDB ErgoGroup. EDB ErgoGroup is the current supplier for Hydro's CTS, and the new agreements represent a continuation of this relationship.
CTS is an application developed by EDB ErgoGroup for Hydro that supports trading of both physical and derivative positions in aluminium. The solution is used to manage trading transactions, reporting and risk management. The system is the subject of continuing development to improve existing processes and extend its functionality. This is reflected in the focus the new agreements place on development resources from EDB ErgoGroup, with exacting standards for specialist expertise and in-depth business knowledge.
For further information, please contact:
Håvard Larsen, EVP Solutions, EDB ErgoGroup. Tel: +47 930 81 013
Torgeir Kristiansen, Information Director Corporate Communications, EDB ErgoGroup. Tel: 901 27 909
About EDB ErgoGroup
EDB ErgoGroup ASA is one of the leading Nordic IT companies, with some 10,000 employees and annual turnover of NOK 12.4 billion. The company is listed on the Oslo Stock Exchange and operates from headquarters in Oslo with major activities in both the Norwegian and Swedish markets. In all, the company operates from 135 offices in 16 countries around the world.