Wednesday, November 09, 2011

Midco Group selects IFS Applications to support its growth strategy

IFS announces that Midco Ltd., has chosen IFS Applications to strengthen the group’s business processes with a vision to deliver greater value, internally to their stakeholders and externally to their customers.

Midco Ltd. is an engineering company with specialization in the business of manufacturing and servicing petroleum dispensing equipment. The post-sales service company of the group operates under the brand Oilco. Corporate and Retail Visual Identity systems are designed and manufactured under their JV company, Hexagon-Midco India (HMI). The group is head quartered in Mumbai (Bombay), India, with manufacturing units in the city of Ahmedabad, Gujarat, and a pan-India service footprint (over 200 strategic service points).

Midco’s primary objective is to have an integrated ERP solution that covers all the facets of their business operations. IFS Applications will be implemented as part of their visionary growth strategy to support current activities carried out amid a challenging and increasingly competitive business environment.

Mr. Neil Shah, Managing Director Midco Group, said, “Keeping in mind our longer term business objectives, IFS Applications was a natural choice. I say this primarily because IFS Applications encompasses it all—from design integration, manufacturing excellence, right down to optimal after-sales service delivery. While we are very aware of the constantly increasing competitive nature of our business, and indeed businesses across industries around the globe, we believe that consistent delivery of quality products and service is key to our success—and deployment of IFS Applications will propel us in our quest for raising the bar and exceeding customer’s expectations, today and tomorrow.”

With the new strategic partnership with IFS, the Midco group is all set to carve a greater niche in the market and to embark on an exciting period of profitable growth.

“We continuously strive to improve our offering to our customers with better support and technology innovation. We are pleased to have cemented an association of this magnitude with the Midco Group, an established firm with a young forward thinking pulse,” said Mr. Thiru Vengadam, Managing Director of IFS Solutions India Pvt. Ltd.

About Midco Group

Midco’s engineering activities consists of engineering design and development, manufacturing and distribution of fuel dispensers, flexible underground piping, Automatic Tank Gauging Systems (ATGs), Submersible Turbine Systems (STPs), Retail Automation and Associated systems. Midco’s overseas operations cover Africa, Middle Eastern countries, South East Asia, erstwhile USSR and Latin America.

Oilco Services (India) Limited is the largest provider of after-sales care for forecourt equipment in India. With a business objective to supply, install, commission and maintain equipment utilized in a petroleum retail station.

Hexagon-Midco India Limited (HMI) designs and delivers high-end signage products by offering end-to-end services for engineering and manufacturing of indoor & outdoor signages, corporate visual identity products, shop systems and LED lighting systems.

More information on the group is available at: www.midcopumps.com; www.oilco-services.comwww.hexagon-midco.com  

About IFS

IFS is a public company (OMX STO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a component-based extended ERP suite built on SOA technology. IFS focuses on industries where any of four core processes are strategic: Service & asset management, manufacturing, supply chain and projects. The company has 2,000 customers and is present in approximately 60 countries with 2,700 employees in total. Net revenue in 2010 was SKr 2.6 billion.

Contact Information

Vice President Corporate Communications Oliver Pilgerstorfer

Phone: +44 1494 428900

Contact Oliver Pilgerstorfer

Head of IR Frédéric Guigues

Phone: +46 8 58 78 45 00

Contact Frédéric Guigues