AspenTech Outlines Strategy for Driving Process Profitability
Company enables process industry customers to achieve operational excellence with solutions for Enterprise Operations ManagementAspen Technology, Inc. (Nasdaq: AZPN) today outlined its strategy for enabling its process industry customers to improve their profitability by optimizing the way they engineer and run their manufacturing and supply chain operations. The company presented its vision of operational excellence to the attendees of its AspenWorld 2002 global process industry conference in Washington, D.C.
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AspenTech's strategy focuses on working with its customers to create Enterprise Operations Management (EOM) solutions. EOM solutions are integrated, enterprise-wide systems that enable process companies to maximize their return on capital employed and increase their operating margins. These systems are built on the key technologies of modeling, control, optimization and information management, and provide companies with the capabilities to optimize their core engineering and manufacturing/supply chain business processes.
"We believe that Enterprise Operations Management solutions will deliver the next wave of performance improvement in the process industries, in the same way that Distributed Control Systems (DCS) and Enterprise Resource Planning (ERP) systems achieved this in the '80s and '90s," said David McQuillin, President and CEO of AspenTech. "The industry leaders have already begun to create these enterprise-wide operations systems and we expect that companies that are the early-adopters for these solutions will benefit from a significant competitive advantage."
EOM solutions enable companies to establish a real-time management system across their entire enterprise, allowing them to dynamically maintain their manufacturing and supply chain operations at the optimum operating point. The system helps companies to achieve and sustain operational excellence, even in fast-moving and uncertain business environments.
"Unlike DCS and ERP systems, EOM solutions can be implemented in a series of well-defined, manageable steps," added McQuillin. "By combining our best- of-breed Foundation Products with new applications that can integrate and automate enterprise-wide business processes, process companies can transform the way their organization functions and achieve new levels of efficiency and profitability."
AspenTech's process industry EOM solutions are made up of three families of products. The core optimization and decision-support technologies are provided by the Engineering and Manufacturing/Supply Chain Foundation Products. The key integration and communications architectures is then provided by the Aspen Enterprise Platform (AEP) Products, enabling companies to share valuable plant data and models, and to integrate the key operational and business systems, including ERP.
The third product family is the range of Enterprise Products, including those products that are being jointly developed with Accenture. Enterprise Products build on the Foundation and AEP Products, and are pre-configured to automate and optimize the most critical industry enterprise-wide business processes. The products contain industry-specific functionality, and support configurable, process-specific workflow and event management.
Aspen Technology, Inc. is a leading supplier of enterprise software to the process industries, enabling its customers to increase their margins and optimize their business performance. AspenTech's engineering solutions, including Hyprotech's technologies, help companies design and improve their plants and processes, maximizing returns throughout their operational life. AspenTech's manufacturing/supply chain solutions allow companies to run their plants and supply chains more profitably, from customer demand through to the delivery of the finished products. Over 1,200 leading companies rely on AspenTech's software every day to drive improvements across their most important engineering and operational processes. AspenTech's customers include: Air Liquide, AstraZeneca, Bayer, BASF, BP, ChevronTexaco, Dow Chemical, DuPont, ExxonMobil, GlaxoSmithKline, Lyondell Equistar, Merck, Mitsubishi Chemical, Shell, Southern Company, TXU Energy 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, and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
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