Hanwha Total Goes Live on Allegro's CTRM Software After 10-Week Implementation
Global Leader in Commodity Management Solutions Continues to Build on a Series of Rapid and Successful Asian Market Software Implementations as South Korean Petrochemical Company Goes Live on Allegro’s CTRM Software
SINGAPORE, July 31, 2018 – Allegro Development Corp., the world’s leading commodity management software provider, announced today that South Korean petrochemical company, Hanwha Total Petrochemical, has successfully gone live on Allegro’s cloud-enabled CTRM software, Allegro Horizon, after a quick and efficient 10-week implementation.
In South Korea, Hanwha and Total are partners at the Daesan integrated refining and petrochemicals platform as part of the 50/50 Hanwha Total joint venture. The industrial site is comprised of a flexible condensate splitter, a competitive steam cracker and polymers, styrene and aromatics units.
Prior to selecting Allegro’s CTRM software, Hanwha Total utilized multiple home-grown solutions to manage its complex supply and price risk management. The South Korean-based company’s leadership team determined the need for an advanced commodity software solution that provides real-time market and portfolio insights, stringent business controls, and robust risk management capabilities. Hanwha Total’s complex businesses, both regional and global, require full value chain risk management on one commodity management platform, including the purchase of feedstocks, processing into petrochemicals, and the sale to customers.
“The Allegro team’s industry knowledge, technical aptitude, and daily commitment to a fast-track implementation were key for a successful project,” said Sebastien Bariller, SVP Hanwha Total Petrochemical. “We are excited to use Allegro’s CTRM software to gain greater visibility, control, and decision making capabilities regarding company price risk management.”
Allegro has experienced strong growth across the Asian market with rapid adoption of the Horizon commodity management solution. Asia’s leading chemical and energy companies are choosing Allegro’s CTRM software because of its flexibility to model customer business processes and ability to deliver decision support, real-time portfolio insights, and advanced risk management.
“I am very pleased with our team’s efforts in quickly and successfully implementing the Horizon commodity management solution for Hanwha Total,” said Jonathan Hodgson, SVP, Global Services, Allegro Development. “We look forward to serving Hanwha Total’s business needs as Allegro continues to provide world-class solutions to the Asian energy market and global leaders in chemicals and energy.”
About Hanwha Total Petrochemical
Hanwha Total Petrochemicals (한화토탈) is a joint venture between Hanwha and Total. Both companies own a 50% partnership in the venture. Hanwha Total Petrochemical Co manufactures mainly petrochemicals needed to make various consumer products. It starts with a naphtha cracker, yielding propylene and ethylene, which are the raw materials in the production of all manner of polymers. Hanwha Total divides its operations in three: polymer production (polyethylene, polypropylene), base chemicals (aromatics used to make the materials that go into synthetic fibers), and energy products (jet, diesel, gasoline, etc.).
To learn more, visit www.hanwha-total.com.
About Allegro Development
Allegro is the global leader in commodity management software for companies that buy, sell, produce or consume commodities. For over 30 years, Allegro has delivered position visibility, risk management, comprehensive controls and regulatory compliance through a forward compatible, next-generation architecture that is built for your business. Allegro’s proven CTRM software innovation and flexibility, coupled with a strong global network of industry partners, makes its solutions the best on the market for full commodity portfolio management.
Headquartered in Dallas, Texas, Allegro has offices in Houston, Dubai, Jakarta, Singapore, London, and Zurich. To learn more, visit Allegro’s website at www.allegrodev.com.