GARMCO Selects Eka for its Metal and FX Risk Management Activities

Bangalore, India (PressExposure) August 20, 2009 -- Eka Software Solutions, the leading provider of multi-commodity trade and risk management solutions, announced that Gulf Aluminum Rolling Mill Co (Garmco) has selected Eka's CTRM solution to manage its hedging and risk management operations. Garmco, a leading metal fabricator from Bahrain, has an annual production of 165,000 tonnes of cold rolled aluminum. They offer a range of downstream products to customers from across the globe. Garmco's ability to consistently deliver high quality products has earned it the reputation of 'a leading producer of quality products in the world's most demanding markets'.

To manage the high degree of volatility and consequent risk in turbulent metal markets, Garmco were looking for a comprehensive solution that would provide end-to-end functional coverage, be integrated with their ERP system, and act as a reliable platform for analysis and decision making. After carefully evaluating all available products, Garmco selected Eka. According to Mr. Prakash Narayanan, Finance Accounting Manager at Garmco, "We were constantly impressed by Eka's people, their abilities, and, of course, the solution itself. While the product is integral to the business relationship, the commitment shown by the Eka team, their transparent and flexible approach, and their very high capability levels, helped us decide in favour of the Eka solution. As a company we value customer relationships and we want to partner with companies that have similar values, and we saw that singular dedication in the Eka team."

Talking about the solution and the business edge they would derive from it, Mr. Prakash Narayanan adds, "EKA Commodity Trading & Risk Management Solution gives us the power of real time information and overall visibility of our global risk and exposures. This essentially means that we are moving to a better managed business model where we can hedge our risks properly, provide quality service to customers, and maintain focus on our core business."

Mr. Manav Garg, CEO & Founder of Eka Software Solutions says, "The entire team at Eka, including me, are thrilled to have Garmco join Eka's growing base of customers. We look forward to providing a superior customer and product experience to Garmco".

EKA's Commodity Trading and Risk Management (CTRM) solution for Metals provides a single platform for managing operations across base metals, concentrates, ferro-alloys, steel and scrap. This superior solution helps manage end-to-end operations across the metal supply chain, including mines and producers, fabricators, cable manufacturers, traders and merchants, as well as scrap dealers and recyclers. The solution contains comprehensive functionality across physical trading, LME, position, mark to market, P&L, risk management, physical operations, finance, business intelligence and regulatory compliance.

About Eka Software Solutions

Eka Software is a leading provider of software for the global commodities markets. Our products and services help companies that buy, sell or trade commodities manage the challenges of volatile markets and 24x7 global operations more efficiently. We see ourselves as partners in our customer 's growth, working with them to improve operational control, increase profitability, accelerate growth and manage risks and exposures. Today, Eka is a 200+ member strong team that caters to clients across a cross section of commodities, segments and sizes, including global giants like Louis Dreyfus, Noble, AWB and CHS.

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Press Release Submitted On: August 19, 2009 at 4:14 am
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