- Trema to connect 10 additional treasury units to central treasury, following RMC acquisition
Boston, 09 May 2005 - Trema, the leading provider of treasury and asset management software for global corporations and financial institutions, today announced that CEMEX, the global producer and marketer of quality cement and ready-mix concrete products, will extend its use of the Trema Suite following its purchase of British company RMC Group on 1st March 2005.
Beginning with the UK, the Trema Suite will be rolled out to RMC's 10 treasury units across Europe, including France, Ireland and Austria, as well as recent EU accession countries Poland, Hungary and the Czech Republic. CEMEX will use Trema to centralize and support the management of its debt, derivatives, investments, inter-company loans, leasings and financial accounting.
The Trema Suite provides a single, modular solution for managing financial transactions globally and in real time. It will give CEMEX's new Europe-based users immediate visibility and control, and ensure the delivery of increased efficiency, easy regulatory compliance and higher returns across the organization. The Trema Suite will support transaction management by storing all market and instrument transactions - throughout the trade life-cycle - in a single centralized database, based in CEMEX's headquarters in Monterrey, Mexico. The implementation project will begin in May 2005.
"The acquisition of RMC better positions CEMEX for profitable growth, increased scale and global reach." comments Cemex, "It is the right acquisition, at the right time on the right terms for CEMEX shareholders. Trema's strong presence in Europe, together with its comprehensive system experience and personnel capabilities make them the ideal partner to help us achieve global centralization, following the acquisition. One of the key benefits is that The Trema Suite has a single centralized database, which will enable us to reduce maintenance costs and make more efficient global upgrades. The language capabilities and depth of local experience of Trema's consultants will be another vital component of the European roll out's future success."
Dana Carmosino, Vice President Business Development, Trema Americas, comments, "This project has significance for Trema for a number of reasons; it reaffirms our commitment to the Americas and demonstrates CEMEX's trust in our ability to provide global, real-time treasury solutions to even the most ambitious and forward-thinking corporations. Most importantly, as a founding American customer that is now moving in to Europe, CEMEX illustrates that Trema is not simply a European company which operates in the Americas, but a truly global player, delivering leading software solutions to all corners of the world. Trema has enjoyed a strategic partnership with CEMEX for a number of years, and we are delighted that CEMEX has chosen to extend this relationship to support its new phase of global growth."