Tungsten Corporation makes senior appointments in the Americas

ATLANTA, July 15, 2014 /PRNewswire/ --

Rick Hurwitz joins Tungsten to lead its operations in the Americas with Peter Schiff Smith
focused on strengthening relations with major customers

Tungsten Corporation plc (LSE: TUNG), the global trading network built on OB10 e-Invoicing, is delighted to announce the appointments of Richard M. Hurwitz as Chief Executive Officer for the Americas and Peter Schiff Smith as Senior Director, Major Account Management.

     (Photo: http://photos.prnewswire.com/prnh/20140715/697057 )

Rick brings a wealth of experience to Tungsten. With an extensive record of building thriving customer-focused businesses, he is leading a high-performance organization in taking Tungsten's e-Invoicing programs to the wider North and South American market, while introducing its financing and analytics solutions. Prior to joining Tungsten, Rick was the CEO of Pictometry International where he led a successful exit for its shareholders.

In his new directorship, Peter Schiff Smith is strengthening Tungsten's relationships with major clients and partners in the US by helping them achieve their long-term goals for Finance and Procurement. He also draws on his banking and trade finance expertise to support Tungsten's supply chain finance services. Peter comes to Tungsten from Citigroup, where he held product management and strategy roles in Commercial Cards, Procure to Pay and Business Development.

Edmund Truell, Tungsten Group CEO, said: "As we increase the flow of global invoices through Tungsten Network, it is essential that we extend the depth of our talent to better serve the needs of our growing customer base. I am delighted to welcome Rick and Peter to Tungsten, and am very confident that they will do great things for all our stakeholders "

Rick Hurwitz added: "This is an exciting time to join Tungsten. By leveraging our global e-Invoicing network to provide truly disruptive supply chain finance and game-changing spend analytics, we are well positioned to offer enormous economic benefits to enterprises around the world."

About Tungsten Corporation plc
Tungsten Corporation (LSE: TUNG) accelerates global trade by enabling customers to streamline invoice processing, improve cash-flow management and make better buying decisions from their detailed spend data.

Buyer organizations that join Tungsten Network, built on OB10 e-Invoicing, can reduce their invoice-processing costs by 60%. Suppliers benefit from efficiencies, greater visibility of their invoice status and peace of mind. Tungsten offers supply chain financing through Tungsten Bank to suppliers and helps buying organizations profit by applying real-time spend analytics to its vast repository of line-level invoice data.

Tungsten connects the world's largest companies and government agencies to their thousands of suppliers around the globe. It is compliant in 46 countries, and processes transactions worth over $180 billion per year for organizations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's, and US Federal Government.

Tungsten Corporation joined forces with OB10 in 2013 to create the world's largest electronic trading network.

Contact: Sandra Higgison, Head of Global Communications, +44(0)20-7280-7973
[email protected].

SOURCE Tungsten Corporation plc

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