SOURCE: Triple Point

Triple Point

December 16, 2010 14:23 ET

Olam International, a Forbes "Fabulous 50" Company, Selects Triple Point for Commodity Management

SINGAPORE--(Marketwire - December 16, 2010) - Triple Point Technology®, the leading provider of multi-market commodity and enterprise risk management software solutions, announced today that Olam International Limited has licensed Triple Point's flagship chartering and vessel operations software to manage pre-and-post fixture activities for its bulk commodities operations, including cocoa, coffee, cashew, peanuts, sesame, rice, cotton, and wood products.

Triple Point's chartering and vessel operations software is based on mature, well-tested products obtained in its acquisition of Softmar -- now the chartering and vessel operations division of Triple Point. The shipping division serves over 80 blue-chip clients and more than 2500 users throughout North America, South America, Asia, and Europe.

Olam International is a leading global supply chain manager of agricultural products and food ingredients. Olam is a supplier to manufacturers of many of the world's most recognized international brands, and its unique "total solutions" approach has earned it a global reputation as the "Brand behind the Brands." Olam has been named to the 2009 and 2010 Forbes Asia "Fabulous 50," an annual list of 50 big-cap and most profitable firms.

"Olam's selection of Triple Point is clear affirmation of our ability to help world-class agribusinesses manage any and all aspects of their commodity operations," said Peter F. Armstrong, president and CEO, Triple Point. "The need for sophisticated enterprise risk management, trading, procurement, and logistics solutions have never been greater in the Asian markets. Triple Point alone has the functional depth and breadth to measure, manage, and report on both trading and shipping for an integrated view of commodity management. We're honored to welcome Olam as a customer."

About Triple Point Technology
Triple Point is the leading global provider of innovative software solutions to efficiently and profitably manage commodities and enterprise risk. Triple Point's growing, loyal customer base of over 260 companies represent all industries with exposure to energy and raw materials including oil and gas, coal, metals, agriculture, transportation, shipping, consumer products (CP), discrete manufacturers, and big box retailers. The company was named a 'Leader' in Gartner's ETRM Magic Quadrant for its completeness of vision and ability to execute. Triple Point software offers the only real-time solution to manage market/price, counterparty credit, operational, and regulatory risk on a tightly integrated platform. Founded in 1993 and headquartered in Westport, CT, USA, Triple Point employs over 600 people in 11 offices and support centers around the globe.

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