AspenTech and Shell Global Solutions Announce Cooperation Agreement to Deliver Petroleum Solution
ORLANDO, Fla.--(BUSINESS WIRE)--Oct. 11, 2004-- Aspen Technology, Inc. (Nasdaq: AZPN) and Shell Global Solutions International BV today announced that they have executed a cooperation agreement to deliver planning, scheduling, and blending solutions to the petroleum refining industry. Under terms of the agreement, Shell Global Solutions will be an authorized value-added reseller and implementer of choice for the Planning, Scheduling and Blending module of aspenONE for Petroleum. aspenONE for Planning, Scheduling and Blending consists of AspenTech's industry leading software Aspen PIMS(TM), Aspen Orion XT(TM) and Aspen MBO(TM), and helps petroleum companies manage and optimize their refinery operations, resulting in more efficient processes, increased utilization and improved margins.
"From the customer's perspective, this relationship expands the options for high-value-added solutions in the petroleum supply chain," said Greg Lewin, CEO, Shell Global Solutions International BV. "aspenONE for Petroleum is a compelling solution, and its Planning, Scheduling and Blending module has wide market acceptance. Deploying the module in combination with the operational experience, best practices and delivery capabilities of Shell Global Solutions, can bring more value to customers than the two in isolation. Shell Global Solutions will be able to offer and apply this solution as part of supply chain and business-wide improvement programs in the oil & gas, petroleum and chemicals industries."
"We recommend Shell Global Solutions as implementer of choice, given their expertise, extensive operational experience and best practices in refinery planning and scheduling," said David McQuillin, President and CEO, AspenTech. "We have also given exclusive access to our implementation know-how to Shell Global Solutions. There are significant opportunities for the refining industry to improve margins, and the combination of our capabilities will help customers to capture even more value. This agreement is a strong validation of AspenTech's strategy to deliver petroleum industry solutions for the Enterprise Operations Management market space."
Future priorities for the cooperation will include the introduction of an expanded range of solutions, developed by integrating the capabilities of existing products currently offered by AspenTech and Shell Global Solutions.
About Shell Global Solutions
Shell Global Solutions is a network of independent technology companies in the Royal Dutch/Shell group. It provides business and operational consultancy, technical services, and research and development expertise to the energy industry worldwide. Its aim is to help its customers raise their business performance. Combining leading-edge technology with extensive operating experience, it provides innovative, yet practical solutions, designed to add maximum value to its customer's operations. It sits at the interface between technology and business and understands the kind of challenges that its customers in industry face. Shell Global Solutions supports customers in a variety of sectors: oil exploration and production; refining, from product manufacture to supply and distribution; oil marketing, for fuels, lubricants and bitumen; gas and liquefied natural gas; chemicals; process industries including automotive, power and paper; and motorsport. For more information, visit www.shellglobalsolutions.com.
Aspen Technology, Inc. provides industry-leading software and implementation services that enable process companies to use simulation models to increase efficiency and profitability. aspenONE, a new generation of software solutions from AspenTech, represents a major step forward in helping process manufacturers achieve their strategic operational excellence initiatives. The first comprehensive offering to address the demands of the Enterprise Operations Management (EOM) market, aspenONE provides companies with integrated systems that enable them to manage and optimize their operational performance. Over 1,500 leading companies already rely on AspenTech's software, including Aventis, Bayer, BASF, BP, ChevronTexaco, Dow Chemical, DuPont, ExxonMobil, Fluor, GlaxoSmithKline, Shell, and Total. 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, particularly the first paragraph. 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 ability to make its revenue goals; 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 cyclical industries; adverse global economic conditions; AspenTech's ability to raise additional capital as required; the FTC's investigation of the Hyprotech acquisition; the outcome of AspenTech's restructuring plans; intense competition; AspenTech's need to develop and market products successfully; 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, aspenONE and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
Aspen Technology, Inc.
Robin Swanger, 281-504 3256
Shell Global Solutions (UK)
Katie Baverstock, +44 (0)151 373 5890
Aspen Technology, Inc.
Joshua Young, 617-949-1274