New York, December 2, 2002 – Reval, a provider of treasury and risk management software solutions and services, announced that Riverwood International Corporation, a leading manufacturer and supplier of packaging materials, selected Reval’s HedgeRx as its derivative hedging management solution. HedgeRx provides comprehensive pricing, risk management and FAS 133 reporting for a range of financial, energy and commodity instruments and will be accessed by Riverwood using Reval’s fully hosted application service provider (ASP) model.
Riverwood will utilize HedgeRx to manage its portfolio of interest rate and foreign exchange risk exposures and the derivative instruments hedging those exposures in compliance with the Financial Accounting Standards Board’s complex derivative accounting regulations (FAS 133). Standardization of derivative processing combined with third-party market data facilitates transparent reporting.
"With Reval, we get a tested, integrated system that makes our hedging management more efficient and will support the company’s efforts to benchmark performance against alternative hedging strategies," said Andre Guzman, Treasurer of Riverwood International Corporation. "We were pleased that it took only days to get up and running."
Reval currently provides web-based hedging management solutions and services to a broad range of corporations and financial institutions. "We are pleased to welcome Riverwood to the growing list of Reval clients," said Jiro Okochi, CEO and Co-Founder of Reval. "Our ability to provide a solution to Riverwood further validates the strength and flexibility of our application to service the needs for many different types of companies across diverse sectors."
About Riverwood International Corporation
Riverwood International Corporation is a leading integrated provider of paperboard packaging solutions to multinational beverage and consumer products companies. Headquartered in Atlanta, Riverwood has annual sales of over $1.2 billion and approximately 4,100 employees at its operations in six countries. Riverwood International Corporation has approximately $900 million in public debt outstanding and represents substantially all of the business assets of Riverwood Holding, Inc.
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