AspenTech Transforms Business and Engineering Decision-Making for the Process Industries
New generation of engineering solution gives process manufacturers and engineering companies a single, integrated product suite to optimize plant assetsAspen Technology, Inc. (Nasdaq: AZPN) today announced the introduction of a new generation of engineering solution -- the Aspen Engineering Suite(TM) 11.1. This latest release of AspenTech's engineering and asset optimization solution uses technical innovations that deliver a major improvement in performance for process companies seeking to design and operate manufacturing facilities to their maximum potential.
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The Aspen Engineering Suite 11.1 (AES 11.1) is a single, integrated suite that provides a comprehensive set of products to optimize plant assets through collaborative engineering, process improvement/de-bottlenecking and strategic planning. As a result of the significant technological advances achieved by AspenTech, AES 11.1 will enable process companies to achieve dramatic increases in their engineering efficiency, capital efficiency and operational productivity.
"The process industries spend hundreds of billions of dollars every year on plant assets and AspenTech's engineering solutions are established as a vital foundation for companies wanting to optimize those investments," says Larry Evans, Chairman and CEO of AspenTech. "By exploiting true technical innovations, AES 11.1 delivers a major step forward in performance and enables manufacturers to generate significant value across their entire value chain."
Among the key technical advances is the use of new computational techniques in the simulation and optimization software at the heart of the AES 11.1 technology. For the first time, process companies can exploit a solution that combines both "Equation Oriented" and "Sequential Modular" calculations -- the result is more powerful and flexible problem solving, leading to better business and engineering decisions. Manufacturers can translate this new ability to design and optimize more complex processes into significant benefits such as increased production capacity, higher utilization and reduced capital expenditure.
"By successfully integrating Equation Oriented and Sequential Modular capabilities in the same flow sheet, AES 11.1 enables hard-to-solve models to converge several times faster and impossible models to converge for the first time," says Gary Back, Engineering Associate of DuPont Nylon. "This will enable our business to further utilize existing flow sheet models for on-line and off-line simulation and optimization."
The integrated set of products within AES 11.1 contains a number of important innovations that will allow companies to reduce the time and cost involved in managing engineering data and knowledge, assessing and optimizing processes and manufacturing operations, and evaluating and managing their plant assets. Some key examples include:
-- Process simulation and production optimization with Aspen Plus(R) and Aspen Plus Optimizer(TM). New computational techniques enable innovative solutions to be found with greater speed, power and engineering flexibility. Complex, plant-wide predictive models can be generated, analyzed and optimized quickly and reliably, leading to optimal business decisions. These more accurate process models can be applied throughout the enterprise, resulting in greater benefits from AspenTech's ProfitAdvantage(TM) solutions. -- Integrated economic evaluation and engineering with Aspen Kbase(TM), the newest generation of the Aspen Icarus technology, and Aspen Zyqad(TM). The integration of these two AES products enables the economic evaluation of decisions to be possible at each stage of the design and engineering process. Companies can fully leverage their expertise and engineering knowledge to ensure effective scope definition and project execution. -- Utility system operation and management with Aspen Utilities(TM). Aspen Utilities is an entirely new AES product that enables companies to carry out the economic optimization of all the business processes associated with the purchase, sale, generation, distribution and use of utilities across a production site. Benefits of applying Aspen Utilities are typically in the range of 2-5 percent of site-wide energy costs. -- Decrease time-to-market using Batch Plus(R). This AES product for batch process recipe modeling has a new enterprise architecture enabling companies to reduce time to market through collaborative engineering by linking disparate, widespread or ad hoc teams for effective product life-cycle execution.AES 11.1 is a key component of AspenTech's ProfitAdvantage(TM) solution, integrating closely with the company's manufacturing, supply chain and e- business collaboration technologies. Aspen ProfitAdvantage 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.
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.
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