AspenTech Collaborates with BR&E to Upgrade Engineering Solutions for Refining and Gas Processing Industries
New development agreement with Bryan Research and Engineering (BR&E), the leader in sour gas processing and dehydration
Aspen Technology, Inc. (Nasdaq: AZPN) today announced a joint development agreement with Bryan Research and Engineering (BR&E) of Bryan, TX, for a multi-product interface to allow integrated operation of BR&E's technology (TSWEET(R), PROSIM(R), ProMax(R)) within the Aspen Engineering Suite(TM) (AES) products. This interface will bring significant work process advantages to petroleum companies and leverages BR&E's experience and globally- recognized success in the areas of amine sweetening, sulfur recovery, tail gas clean-up, dehydration, hydrate formation predictions and exchanger rating/sizing.(Photo: http://www.newscom.com/cgi-bin/prnh/20000811/ASPENLOGO )
"This agreement furthers our goal of streamlining and integrating the process engineering workflow and ensuring that 'best-in-class' technologies are available to all of our customers," said Larry Evans, Chairman and CEO of Aspen Technology. "It enhances our petroleum industry capabilities and supplements our leading edge simulation, equipment design and physical properties capabilities with additional detailed knowledge of crucial technologies within the refinery."
Companies should be able to achieve immediate benefits from this partnership through an enterprise-wide deployment and utilization of AspenTech's steady state simulation and optimization product, Aspen Plus(R) 11.1, which can access BR&E's detailed property database. This interfacing of complementary software technologies within Aspen Plus will allow the benefits of the BR&E technology to be multiplied throughout the engineering and asset optimization business processes supported by AES.
"We are very excited about the opportunity to integrate and co-develop our software products with AspenTech," said Jerry Bullin, President of Bryan Research and Engineering. "This is a significant validation of our technology and allows customers of the Aspen Engineering Suite to benefit from our industry expertise."
The interface will be commercially available in a service pack to the AES 11.1 release, previously announced for Spring 2002. This interface allows the usage and reference of BR&E's physical property models within Aspen Plus. Additional development is ongoing and will be made available with future updates to Aspen Properties(TM) and Aspen Plus.
About Bryan Research & Engineering
Bryan Research & Engineering is a globally recognized provider of process simulation software to the oil, gas processing and refining industries. BR&E's PROSIM - TSWEET package is easy to learn and ideal for the engineer involved in process design, facility optimization, or plant monitoring. BR&E's software has accurately and efficiently modeled thousands of facilities, increasing profitability and productivity with efficient designs, improving plant reliability and increasing company profit margins. For more information, visit www.bre.com.
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 20 years of process industry experience to increase revenues, reduce costs and improve capital efficiency. AspenTech's customers include: Air Liquide, AstraZeneca, Bayer, BASF, BP, Chevron, Dow Chemical, DuPont, Equistar, Exxon Mobil, GlaxoSmithKline, 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, Aspen Engineering Suite, Aspen Plus, Aspen Properties and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
Contacts:
For Media:
Peter Watt Carin Warner
Aspen Technology, Inc. Warner Communications
+44 1223 819-752 (978) 526-1960
peter.watt@aspentech.com carin@warnerpr.com
For Investors:
Joshua Young
Aspen Technology, Inc.
(617) 949-1274
joshua.young@aspentech.com
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SOURCE Aspen Technology, Inc.
CONTACT: media, Peter Watt of Aspen Technology, Inc., +44 1223 819-752,
or peter.watt@aspentech.com; or Carin Warner, Warner Communications,
+1-978-526-1960, or carin@warnerpr.com; or investors, Joshua Young of Aspen
Technology, Inc., +1-617-949-1274, or joshua.young@aspentech.com
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