February 10th 2022 Long Beach, California, Mieco selects Fusion CTRM. MIECO, founded in 1984 as a wholly owned subsidiary of Marubeni, has operations in a number of energy markets including Oil products and Natural Gas.
Throughout 2021, Mieco carried out an extensive and highly competitive CTRM evaluation process which resulted in the selection of Fendahl’s Fusion CTRM solution to meet Mieco’s commodity risk management needs.
Some of the key decision factors that resulted in the decision to select Fendahl included: –
- Fendahl Fusion provided a close fit to Miecos required functionality. This good functional fit was further reinforced with Fendahls extensive commodity trading and risk management expertise and a detailed knowledge of industry business best practices.
- Fendahl was able to reference a highly satisfied customer base, providing confidence in Fendahls’ ability to deliver and meet customers’ expectations.
- An ability to integrate with legacy systems.
- A highly adaptable, modern, cloud-based solution enabled by the use of a modern micro-services based architecture.
- Fendahl offered a commercial structure that was closely aligned to a successful delivery.
Having concluded contractual negotiations in December 2021, Mieco and Fendahl commenced implementation of refined petroleum products in January 2022 with natural gas expected to follow later this year.
MIECO LLC is a wholly owned subsidiary of Marubeni Corporation. Headquartered in Long Beach, California, the company has offices located in several regions of United States. Mieco actively trade refined petroleum products and natural gas, In the North America and the Pacific Rim regions.
Fendahl Technology is a rapidly growing global CTRM software and consulting company with a dedicated team of over 180 staff with offices in the Americas, Asia, and EMEA, serving a rapidly growing global client base across multiple commodity segments.