AspenTech Forms Global Process Modeling Center of Excellence
Business Editors/Technology Editors
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 11, 2006--Aspen Technology, Inc. (NASDAQ: AZPN) today announced the formation of a global Process Modeling Center of Excellence, based in the company's headquarters in Cambridge, Massachusetts. The Center will house all of the company's process modeling development teams. The consolidation of these R&D functions, which began in 2005, will accelerate product integration and stimulate innovation in AspenTech's industry-leading modeling technologies.
"The new Center of Excellence in Cambridge combines the best minds and talent for process modeling technologies under one roof," said Mark Fusco, President and CEO of AspenTech. "Its creation is part of our aspenONE strategy to increase our leadership in process modeling technology and thus deliver the greatest value to our customers."
The consolidation of the process modeling development teams was recommended by some of the largest Aspen Engineering Suite (AES) customers through an advisory board. The AES Advisory Board has collaborated for over six years with AspenTech's Product Management and R&D functions to define strategic and technological direction, contribute ideas and identify tactical requirements.
"AspenTech recognizes the importance of customer input for creating solutions that address our needs while delivering measurable results in engineering and optimization," stated Dr. Axel Polt, Director of Conceptual Process Engineering at BASF and a current member of the AES Advisory Board. "Establishing a Center of Excellence demonstrates AspenTech's commitment to its core competency in process modeling and will drive greater synergy between BASF goals and AspenTech's solutions."
Another AES Advisory Board member, Christian Ptak, Vice President of Process Engineering at Technip, added: "The Center of Excellence puts AspenTech in a unique position to drive its vision and strategy to deliver process modeling innovation for Technip and the modeling community at large."
Development activities for key process modeling products like Aspen HYSYS(R), Aspen RefSYS(TM) and Aspen HYSYS Upstream(TM), as well as Aspen Plus(R), Aspen Custom Modeler(R), Aspen Dynamics(R), Aspen Properties(R), Aspen Polymers Plus(R), Aspen Batch Plus(R) and Aspen Simulation Workbook(TM) will be consolidated into the new Center of Excellence. R&D in Cambridge, UK has already completed relocation, while R&D in Calgary, Alberta, will be relocated by the end of 2006. When consolidation is complete, the Cambridge, Massachusetts process modeling R&D group will have approximately 70 experienced staff members. AspenTech will continue to have customer support, professional services and sales activities based in Calgary, Alberta.
The Process Modeling Center of Excellence is part of AspenTech's strategy to improve collaboration and specialization within its R&D function while strengthening its core competencies. Process modeling is a central element of aspenONE, the integrated suite of applications designed to help process companies achieve operational excellence. The aspenONE Process Engineering application builds on the industry-leading Aspen Engineering Suite technologies to provide full engineering lifecycle solutions from project concept and R&D through process design and operations.
Aspen Technology, Inc. provides industry-leading software and professional services that help process companies improve efficiency and profitability by enabling them to model, manage and control their operations. The new generation of integrated aspenONE(TM) solutions is aligned with the key industry business processes, providing manufacturers the capabilities they need to optimize operational performance, make real-time decisions and synchronize the plant and supply chain. Over 1,500 leading companies already rely on AspenTech's software, including Bayer, BASF, BP, Chevron Corporation, DuPont, ExxonMobil, Fluor, GlaxoSmithKline, Sanofi-Aventis, Shell and Total. For more information, visit www.aspentech.com.
AspenTech, Aspen HYSYS, Aspen RefSYS, Aspen HYSYS Upstream, Aspen Plus, Aspen Custom Modeler, Aspen Dynamics, Aspen Properties, Aspen Polymers Plus, Aspen Batch Plus and the aspen leaf logo are trademarks of Aspen Technology, Inc.
CONTACT: Aspen Technology, Inc. (NALA)
Marie Telepneff, 617-949-1324
Aspen Technology, Inc. (EMEA/APAC)
Peter Watt, +44 (0) 1707 697126
SOURCE: Aspen Technology, Inc.