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Altra Moves to Bolster European Presence

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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