Altra Moves to Bolster European Presence
Setting itself up to enter the deregulating European energy
market, Altra Energy Technologies Inc. announced that Sema Group,
an international information technology (IT) and business services
company, has agreed to be Altra's exclusive European distributor.
Under the agreement, Sema Group will provide core systems
integration skills and support for Altra's products. Sema Group is
active in power trading, and its own product line is used by the
Amsterdam Power Exchange and Spanish Electricity Pool.
Altra said it hopes to tap the sharp rise in demand for energy
trading software, which has followed EU legislation that introduced
competition into the European gas and electricity supply
marketplaces. The legislation passed last November.
"Sema Group will provide Altra optimum representation throughout
Europe," said Paul Bourke, president and CEO of Altra. "With Sema
Group providing both pre- and post-sales and post-installation
support in local languages, we will have every opportunity to meet
a variety of customer needs."
Expansion has been at the top of Altra Energy Technologies' list
this year. It began its buying spree with the January acquisition
of Quicktrade, its main competitor in the electronic trading
platform market, and formed the combined Altrade. Altra also bought
a large risk management software producer, Energy Imperium, last
March and another competitor, TransEnergy Management, in late
June. (See Daily GPI, June 29, 1999)
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