Morgan Advanced Materials chooses Tungsten to deliver AP efficiencies

Multinational company intends to transform its accounting processes with Tungsten’s technology

Atlanta, 30 March, 2015 – Morgan Advanced Materials, a world leader in advanced materials technology that operates in more than 50 countries, has signed with Tungsten Corporation plc (LSE:TUNG), the global electronic invoicing, analytics and invoice financing company, to bring greater efficiencies to its North American accounts payable (AP) processes.

Morgan Advanced Materials is implementing a JD Edwards enterprise resource planning (ERP) system and is seeking to concurrently implement an AP automation solution to streamline its invoice process within its North America operations. Tungsten’s All-in-One For JD Edwards AP product integrates with JD Edwards software and enables the processing of all invoices.

Rick Hurwitz, Tungsten Chief Executive Officer (Americas), said: “I’m delighted that Morgan Advanced Materials, a FTSE 250 company, has chosen to work with Tungsten to streamline its payables process. Tungsten acquired Docusphere last summer in order to extend our portfolio of P2P technologies to better help our clients operate more efficiently and effectively. We look forward to achieving just that with the team at Morgan Advanced Materials.”

About Tungsten Network

Tungsten Corporation (LSE: TUNG) aims to be the world’s most trusted business transaction network by using data intelligently to strengthen the global supply chain.

Tungsten Network is a secure business transaction network that brings businesses and their suppliers closer together with unique technology that revolutionises invoice processing, maximises efficiency and improves cash flow. Delivering trusted connections and streamlined transactions, the network also provides users with real-time spend analysis and offers suppliers access to invoice financing through Tungsten Network Finance, a form of alternative finance for businesses.

Tungsten Network processes invoices for 74 percent of the FTSE 100 and 71 percent of the Fortune 500. It enables suppliers to submit tax compliant e-invoices in 48 countries, and last year processed transactions worth over £164bn for organisations such as Alliance Data, GlaxoSmithKline, Henkel, Kellogg’s, Mohawk Industries, Mondelēz International, Thermo Fisher and the US Federal Government.

Tungsten Corporation acquired DocuSphere, a provider of accounts payable automation solutions, in September 2014.

Contact: James Culverhouse, Equus, +44 020 7223 1100, [email protected].

* Tungsten Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Tungsten Bank is registered on the financial services register with firm reference number 139209.

About Morgan Advanced Materials

Morgan Advanced Materials is a global materials engineering company which designs and manufactures a wide range of high specification products with extraordinary properties, across multiple sectors and geographies.

From an extensive range of advanced materials the company produces components, assemblies and systems that deliver significantly enhanced performance for its customers’ products and processes. Its engineered solutions are produced to very high tolerances and many are designed for use in extreme environments.

The Company thrives on breakthrough innovation with materials scientists and applications engineers working in close collaboration with customers to create outstanding, highly differentiated products that perform more efficiently, more reliably and for longer.

Morgan Advanced Materials has more than 9,000 employees across 50 countries serving specialist markets in the energy, transport, healthcare, electronics, security and defence, petrochemical and industrial sectors. Morgan Advanced Materials (MGAM) is listed on the London Stock Exchange in the engineering sector.

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