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 prioritises 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 Kraftnt (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.