AspenTech Logo

News Release

View printer-friendly version
<< Back

Aristech Acrylics Selects AspenTech Supply Chain Solution to Increase Manufacturing Agility and Improve Service

06/14/02
CAMBRIDGE, Mass., Jun 14, 2002 /PRNewswire-FirstCall via COMTEX/ --

Solution will enable major producer of continuous cast acrylic sheets to maximize profits and revenues by integrating plant-level and supply chain systems

Aspen Technology, Inc. (Nasdaq: AZPN) today announced that Aristech Acrylics LLC, one of the world's largest producers of seamless continuous cast acrylic sheets, has licensed its supply chain optimization solution to increase the efficiency and profitability of its Florence, Kentucky plant. The solution will enable plant supervisors to optimize production sequences and equipment usage using real-time decision-support tools-thereby improving Aristech Acrylics' responsiveness to changes in customer demand and plant conditions. AspenTech recognized the license revenue from this transaction in the March quarter.

"AspenTech's ability to integrate scheduling with plant operations is key to our competitive marketplace positioning," said Beth Califf, Aristech Acrylics plant manager. "By offering unparalleled access to decision-support information, the solution will empower Aristech Acrylics to respond more quickly to new customer opportunities, and to drive new revenue streams."

Aristech Acrylics' Florence plant houses dozens of reactors for blending polymers into materials for counter tops, shower units, bathtubs, hot tubs, sinks, boating products, skylights and more. The plant produces the products- with more than 2,000 variations in color alone-using precise, detailed and complex business processes. This requires finely tuned and flexible scheduling to respond to changes in demand and plant conditions, enable manufacturing with consistent quality, and maximize plant profitability during production.

The AspenTech solution will help Aristech Acrylics meet these requirements by giving plant supervisors a better real-time view of demand and scheduling data, along with sophisticated decision support tools to optimize the plant response. The solution will integrate with an AspenTech data historian solution already in use by the plant-further increasing access to the myriad complex variables important for optimizing plant schedules and processes. Together, the solutions will blend real-time information, historical data and advanced statistics to generate "what if?" scenarios and enable supervisors to make quick and optimal scheduling decisions.

"Aristech Acrylics' strategic approach to integrating information technology will increase the efficiencies it enjoys, resulting in significant improvements in productivity and responsiveness," said David McQuillin, Executive Vice President and Co-Chief Operating Officer of AspenTech. "As competition in the chemicals industry intensifies, Aristech Acrylics is paving the way for continued top-level market positioning."

AspenTech's supply chain technologies are a key component of the Aspen ProfitAdvantage(TM) solution, which increases the profitability of process companies by enabling the optimization of their entire value chain from the supply of raw materials, through production, to the delivery of the final product.

About Aristech Acrylics

Aristech Acrylics LLC, located in Florence, KY, is owned by Mitsubishi Rayon Company, Ltd. Known for highly innovative products and processes, Aristech is among the world's largest manufacturers of continuous cast acrylic sheet.

About AspenTech

Aspen Technology, Inc. is a leading supplier of integrated software and solutions to the process industries. The company's Aspen ProfitAdvantage(TM) solution enables companies to identify and maximize profit opportunities throughout their entire value chain-from the supply of raw materials, through the production of goods, to the delivery of final products to customers. The Aspen ProfitAdvantage solution encompasses engineering, manufacturing, supply chain and e-business collaboration technologies, providing the tools that enable manufacturers to design, optimize and execute business processes in real time. Over 1,200 leading process companies already rely on AspenTech's 21 years of process industry experience to increase revenues, reduce costs and improve capital efficiency. AspenTech's customers include: Air Liquide, AstraZeneca, Bayer, BASF, BP, ChevronTexaco, Dow Chemical, DuPont, ExxonMobil, GlaxoSmithKline, Lyondell Equistar, Merck, Mitsubishi Chemical, and Unilever. For more information, visit www.aspentech.com

Certain paragraphs of this press release contain forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statement using the term "will," "should," "could," "anticipates," "believes" or a comparable term is a forward-looking statement. Actual results may vary significantly from AspenTech's expectations based on a number of risks and uncertainties, including: AspenTech's lengthy sales cycle which makes it difficult to predict quarterly operating results; fluctuations in AspenTech's quarterly operating results; AspenTech's dependence on customers in the cyclical chemicals, petrochemicals and petroleum industries; AspenTech's need to hire additional qualified personnel and its dependence on key current employees; intense competition; AspenTech's dependence on systems integrators and other strategic partners; changes in the market for e-business solutions for AspenTech's customers; increased governmental regulation and taxation of e-commerce and the Internet; information security and privacy concerns relating to e-commerce; and other risk factors described from time to time in AspenTech's periodic reports and registration statements filed with the Securities and Exchange Commission. AspenTech cannot guarantee any future results, levels of activity, performance, or achievements. Moreover, neither AspenTech nor anyone else assumes responsibility for the accuracy and completeness of any forward-looking statements. AspenTech undertakes no obligation to update any of the forward-looking statements after the date of this press release.

AspenTech, Aspen ProfitAdvantage and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.

     Contacts:

     For Media:
     Peter Watt
     Aspen Technology, Inc.
     +44 1223 819-752
     peter.watt@aspentech.com

     Carin Warner
     Warner Communications
     (978) 526-1960
     carin@warnerpr.com

     For Investors:
     Joshua Young
     Aspen Technology, Inc.
     (617) 949-1274
     joshua.young@aspentech.com

                    MAKE YOUR OPINION COUNT -  Click Here
               http://tbutton.prnewswire.com/prn/11690X66415154
SOURCE Aspen Technology, Inc.

CONTACT:          Peter Watt, +44-1223-819-752, peter.watt@aspentech.com; or
                  Joshua Young, +1-617-949-1274, joshua.young@aspentech.com; both of Aspen
                  Technology, Inc.; or Carin Warner of Warner Communications, +1-978-526-1960,
                  carin@warnerpr.com

URL:              http://www.aspentech.com
http://www.prnewswire.com
Copyright (C) 2002 PR Newswire.  All rights reserved.