Brady plc (BRY.L), the leading supplier of trading and risk management solutions for metals, recycling, energy and soft commodities, announced today that Onesteel Recycling Asia has selected Brady to manage its physical trading and risk requirements for its base metals business in Hong Kong.
In addition to its global trading platform, OneSteel Recycling operates from 52 scrap collection locations spread throughout Australia, New Zealand, USA, Thailand, the Philippines and Hong Kong, supplying processed quality ferrous and non-ferrous recycled metal to steel mills, foundries, copper, brass, lead and aluminium industries and is a significant exporter of recycled raw materials to the Asian region. In FY12, the business handled in excess of 2.1 million tonnes of recycled metal globally through its physical operations and trading business.
After an extensive review process of vendor alternatives, Brady was selected as the partner of choice for its comprehensive functional coverage, along with the speed of deployment and the in-depth domain knowledge of the Brady team in the metal trading environment. The Brady solution will enable OneSteel to manage its physical and futures trading and the associated logistics requirements, whilst providing the necessary risk management tools. In addition, OneSteel will use Brady’s accounting solution for budgetary control and financial reporting purposes.
Gavin Lavelle, CEO of Brady plc, commented: ”Brady has been independently acclaimed to be the leading provider of software solutions to the global metals market and we are delighted that OneSteel has selected Brady to manage its trading and risk requirements, thus adding to our growing customer base in the APAC region. Brady’s trading solution offers OneSteel a fully integrated solution that follows the lifecycle of a deal closely, starting with the contractual phase, followed by the execution phase and finally linking the data to a fully integrated multi-currency accountancy application, providing immediate access to key financial information, in order to optimise risk monitoring, treasury management and overall business control. We are absolutely delighted to welcome OneSteel to Brady’s customer base of more than 300 companies world-wide”.
Greg Armstrong, Managing Director of OneSteel, Asia said: “We selected Brady to facilitate the process involved in enabling our business to make more informed and proactive decisions, streamline day-to-day operations and protect profits whilst at the same time providing the necessary platform for continuing growth. Implementation of the Brady solution extends our visibility into the full supply chain and enables us to make intelligent sourcing decisions to offer better value to our suppliers and customers.”
