6 July 2010, London: Brady plc (BRY.L), the leading global supplier of trading, risk management and settlement solutions for commodities, is pleased to announce that InVivo Group, the leading global farming co-operative group, has signed a contract with Brady. This contract is a complete solution to support the client's substantial grain trading and risk activity using both the Fintrade and Opval trading solutions.
InVivo Group, based in France, has 279 member cooperatives and a 6,000-strong workforce. It is the number-one French cooperative group and one of the biggest in Europe. InVivo is present in 18 countries and develops four main activities: seeds and agricultural supplies, animal nutrition and health, grain storage and trading, distribution and services. The InVivo group reported revenues of €5.1 billion in 2008-2009. The grain trading business comprises three main functions: trading, brokering and negotiating and clearing contracts on Euronext (matif), ensured by the subsidiary Sigma Terme. The Grain Trading department is also the leading operator in the European Union.
Didier Nedelec, Deputy General Manager, Grain Marketing Division at InVivo Group, commented: "Our objective is to improve the efficiency of our organisation and to implement an integrated system capable of handling the complete range of our requirements, starting from the operation and logistics to market risk management. It is our aim to be the most efficient company in the business for the benefits of our members."
Gavin Lavelle, CEO at Brady, commented: "This is another excellent client win following our recent acquisition of Viveo Switzerland. This new contract also demonstrates Brady's ability to sell complex solutions across multiple commodity asset classes and represents the first integrated sale of Fintrade and Opval."
Editorial contact for Brady
John Norris
Moonlight Media
Tel: +44 (0) 20 7250 4770
Email: john@moonlightmedia.co.uk
Notes to Editors
About InVivo
InVivo, Union of Agricultural Cooperatives, is a major player in four businesses: seed and agricultural supplies, animal health and nutrition, storage and international grain trade, distribution green (Gamm green). InVivo group achieves a turnover of 5.1 billion euros and employs more than 6,100 employees worldwide. For more information please visit: www.invivo-group.com
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