Posted December 12, 2001 Manufacturing News FORS and IFS form joint venture in Russia FORS (Moscow; www.fors.ru) and Industrial and Financial Systems (Linköping, Sweden; www.ifsworld.com) have formed a joint venture company called Corporate Financial Systems (CFS), through which they will market, sell and implement IFS Applications in Russia. FORS has been working with IFS since 1994 and has 8 customers ranging from breweries to nuclear power plants in Russia and the Commonwealth of Independent States. Initially, CFS will have 15 employees, most of whom are FORS specialists who have been implementing IFS Applications. CFS already has new customers. Two contracts were signed during the press conference: one with Symmetron (St. Petersburg, Russia; www.symmetron.ru), distributor of electronic parts and supplies, the other with Impexbank (Moscow; www.impexbank.ru) IFS develops and supplies component-based business applications for medium and large enterprises. IFS Applications, which is based on web and portal technology, offers 60+ enterprise application components used in manufacturing, supply chain management, customer relationship management, financials, engineering, maintenance and human resource administration. IFS provides customers step-by-step evolution to the extended enterprise with e-business solutions that offer partner, customer, and supplier collaboration. The Manufacturing Report © Copyright 2001 by Lionheart Publishing, Inc. All rights reserved. E-mail Editorial Dept: tmr-editorial@lionhrtpub.com Lionheart Publishing, Inc. 2555 Cumberland Parkway, Suite 299, Atlanta, GA 30339 USA Phone: 770-431-0867 | Fax: 770-432-6969 E-mail: lpi@lionhrtpub.com