SOURCE: FiREapps

March 03, 2008 13:33 ET

FiREapps to Speak at BNP Paribas FX Views and Ocean Views

FiREapps CEO Wolfgang Koester to Share the "Known Unknowns" of Foreign Exchange

SCOTTSDALE, AZ--(Marketwire - March 3, 2008) - FiREapps, the leading provider of Corporate Foreign Exchange Management Technologies, announced today that CEO Wolfgang Koester will be speaking at the BNP Paribas FX Views & Ocean Views seminar. During the seminar in Half Moon Bay, CA, Koester will provide guidance and advice on how CFOs and investment banks can recognize and proactively manage currency volatility in their corporations.

With currency volatility at an all time high, discrepancies in a company's balance sheet and income statement are becoming less and less acceptable. Today, improperly managed foreign exchange exposure is affecting many companies' financial statements resulting in foreign exchange losses being reported in their quarterly earnings statements and decreasing the companies' share holder value.

"More and more companies of all sizes are doing business internationally," said FiREapps CEO Wolfgang Koester. "With new markets and sales opportunities come all kinds of risks, FX risk being one of the least known and most volatile. This session will help the audience understand and manage currency volatility and its resulting foreign exchange exposure."

Koester will discuss the root cause of volatility, why currency volatility is a cause for concern and steps leaders can take to insure that the direction of currency does not affect their company's bottom line. Through a case study, he will also address the strategic impacts of foreign exchange exposure and how savvy CFOs and investment banks can control the risk and use it to their advantage. Koester will end the discussion by examining the next wave of disclosure requirements that he believes will come as a direct result of the current currency volatility in the market.

Topic:       The Known Unknowns of Foreign Exchange
Date:        Tuesday, March 4, 2008
Time:        8:30 a.m. PST
Location:    The Ritz-Carlton Half Moon Bay
             One Miramontes Point Road
             Half Moon Bay, CA 94019
             (650) 712-7000

Koester's discussion on currency volatility will help others understand how it affects their company's financial data and how to examine their company's financial operations and set the necessary policies and processes that allow leaders to make decisions to reduce the impact of currency volatility on corporate earnings.

About Koester

Wolfgang Koester is the CEO of Rim-Tec, Inc. which developed FiREapps, the leading provider of Corporate Foreign Exchange Management Technologies. Koester has been managing risk for Fortune 100 companies as well as governments, including G-10s, since 1986. Prior to forming Rim-Tec, Koester served as President with GFTA Trendanalysen Inc., a quantitative currency manager. Koester holds a Bachelor of Science from Arizona State University and a Master's Degree in International Management from The Garvin School of International Management.

About FiREapps

FiREapps, a subsidiary of Rim-Tec, Inc., is the leading provider of Corporate Foreign Exchange Management Technologies. The company provides technologies and services that help corporations optimize foreign exchange processes. These solutions help customers mitigate risk while increasing profitability and operational efficiencies. FiREapps has offices in Scottsdale, Arizona and Portland, Oregon.