Fonterra selects eTC from City Financials

10th October 2005

- Leading international dairy company selects eTC to streamline treasury processes and provide advanced financial risk management capability.

Fonterra, one the world's leading dairy companies, has licensed the corporate treasury software product eTC from City Financials for its global treasury operations based in Auckland, New Zealand.

A strategic review of Fonterra's treasury requirements was undertaken early in 2005 and after a rigorous and competitive tender process, City Financials’ eTC product was chosen.

Fonterra Group Treasurer Mary-Jane Daly said: "Our selection of eTC from City Financials means we will be providing leading-edge tools to our Treasury team, better enabling us to service our customers - internal and external - and to help realise the co-operative’s goals."

Steve Whalley managing director of City Financials commented "The ability of our product to process all of Fonterra's treasury system requirements from a single point of data entry will enable Fonterra to eliminate many of the additional practices that have been built up around their previous system over time, and to fully integrate up to 200 users from the business units worldwide"

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