Wednesday, January 28, 2009
IFS expands footprint with North African utility
IFS' Middle East Office has signed an add-on contract with a government-owned utility in North Africa. The company, which manages all investments relating to power generation, transmission and distribution as well as desalination units, will expand the IFS user population and implement new functionality. The value of the contract is Euro 4.4 Million.
The contract, signed in January with consulting services extending over a three-year period, will have a revenue impact of Euro 1.2 million in Q1 2009.
IFS prioritizes the energy and utilities industry and has more than 140 customers involved in power generation, transmission and distribution as well as water and sewage. These include the world's largest hydropower plant, Three Gorges (P. R. China), nuclear power plants OKG (Sweden), PBMR (South Africa) and Qinshan (P. R. China), grid operators such as Svenska Kraftnät (Sweden), Statnett (Norway) and TenneT (The Netherlands) as well as distributors such as Vattenfall (Sweden), Fortum (Sweden), and Hafslund Energi (Norway). Reliable and safe asset management and workforce management are critical processes in the energy and utility industry, to which IFS has provided solutions for more than 20 years.
IFS is a public company (OMX STO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a fully-integrated, component-based extended ERP suite built on SOA technology. The company has more than 2,000 customers in 54 countries and focuses on seven main industries: aerospace & defense, utilities & telecom, manufacturing, process industries, automotive, retail & wholesale distribution, and construction contracting & service management. IFS has 2,600 employees and net revenue in 2007 was SKr 2.4 billion. IFS Applications is a trademark of Industrial and Financial Systems, IFS AB (publ). All other referenced company or product names are trademarks or registered trademarks of their respective owners. The information is that which IFS is required to declare by the Securities Business Act and/or the Financial instruments Trading Act. The information was submitted for publication on January 28, 2009, at 08:45 a.m.