Brady plc (BRY.L), the leading global supplier of commodity, energy and recycling software for transaction processing and risk management, announced today that OneSteel Recycling Asia is now employing 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. It supplies processed quality ferrous and non-ferrous recycled metal to steel mills, foundries, and to the copper, brass, lead and aluminium industries. It is also 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.
OneSteel selected Brady following an extensive review of vendor alternatives due to its comprehensive functional coverage, speed of deployment and the in-depth domain knowledge of Brady’s team in the metal trading environment.
The Brady solution enables OneSteel to manage and track its physical and futures contracts, match purchases and sales and receive an up-to-date view of the operation’s profitability. The solution ensures the complete traceability of the delivered commodity and facilitates the logistical processes involved in delivering the cargoes, whilst providing the necessary risk management tools.
OneSteel will also use Brady’s accounting solution for budgetary control and financial reporting purposes.
Gavin Lavelle, CEO of Brady plc, commented: “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 a fully integrated solution that closely follows the lifecycle of a deal., It starts with the contractual phase, followed by the execution phase and finally links the data to a fully integrated multi-currency accountancy application. It provides 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: “The rationale behind selecting Brady was to facilitate the process involved in enabling our business to make more informed and proactive decisions, streamline day-to-day operations and protect profits. 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”.
On the implementation process, he continued: “We are absolutely delighted to report that the implementation process ran highly smoothly and efficiently. The project teams from Brady and OneSteel worked in partnership to deliver the solution within budget and within the agreed delivery time-frame. We welcome the beneficial impact that the solution will have on streamlining our internal processes and the positive effects on reducing costs of running the business”.