TietoEnator delivers an Electricity Module for the Treasury operations of Holmen Group in Sweden
TietoEnator delivers an Electricity Module for the Treasury operations of Holmen Group in Sweden Holmen Group in Sweden is first to implement the Entra System10 functionality for handling electricity contracts in order to control all financial risks in one system. The Electricity Module will handle OTC contracts, futures, forwards, as well as Nordpool contracts, futures, forwards, and options. - System10 has been our treasury system for many years. As the market for electrical power now in many ways is a financial market, it was natural for us to choose System10's electricity module - to concentrate all our financial risks in the same system, says Anders Almgren, CFO of the Holmen Group. - The additional functionality for electricity trading in a treasury system, already handling Foreign Exchange, Money Market and Equities trading means that System10 provides a One-Stop-Shop solution for the whole treasury area, says Mats Kornö, Managing Director, Entra System10 AB. The Swedish forestry group Holmen is organised in five business areas: Holmen Paper (newsprint and magazine paper), Iggesund Paperboard (paperboard), Iggesund Timber (sawn timber), Holmen Skog (forests) and Holmen Kraft (electrical power). The net turnover was 15,2 billion SEK in 2000. The turnover of electrical power in Sweden amounted to 5,9 TWh in 2000. For further information, please contact: Mats Kornö, Managing Director, Entra System10 AB, Tel: +46 40 17 48 85mats.korno@entragroup.com Martin Sjöberg, CEO and President, Entra AB, Tel: +46 709 790 870, martin.sjoberg@entragroup.com With a staff of 10,000 and annual net sales of 1.1 billion euros, TietoEnator is a leading supplier of high value-added IT services in Europe. TietoEnator provides consulting, systems development and integration, operation and support, product development services for customers, and software services. The Group has in-depth knowledge of its customers' businesses in areas such as telecommunications, finance, the public sector and the forest industry. www.tietoenator.com Entra is a part of TietoEnator, Finance Sector . For further information, visit www.entragroup.com. The services of TietoEnator Finance Sector are based on a strategic partnership with our customers. Finance Sector's solutions business concentrates on key technologies and the goal is, via Europe, to be a global e-finance solutions provider. In addition to net banking solutions, Finance Sector also commands strong expertise in payment systems and selected capital market solutions. Finance Sector operates in 11 different countries with more than 1600 experts and over 300 customers world-wide. TietoEnator Finance Sector is the leading partner for the banking, insurance and finance sector in Northern Europe. TIETOENATOR CORPORATION DISTRIBUTION Principal media ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/15/20010515BIT00120/bit0001.doc http://www.bit.se/bitonline/2001/05/15/20010515BIT00120/bit0001.pdf