AspenTech's Supply Chain Solutions Top the List for the Process Industries
CAMBRIDGE, Mass.--(BUSINESS WIRE)--March 1, 2004-- Aspen Technology, Inc. (Nasdaq: AZPN) today announced that it has been recognized as the number one supplier of supply chain planning and collaboration software and services to the process industries in a report by the leading industry analysts ARC Advisory Group. The results were published in a global outlook study(a) by ARC, which examined the marketplace for software solutions including manufacturing planning and scheduling, demand planning, inventory and material management, and order promise and fulfillment.
"AspenTech has shown consistent penetration into the global process industries through the development of innovative supply chain solutions targeted at the complex needs of process companies," said Sid Snitkin, Vice President Enterprise Applications of ARC Advisory Group. "Its solutions are the result of close collaboration between internal domain experts and leading process manufacturers, and have been successfully applied in a broad range of industry segments. The company has implemented some of the largest supply chain initiatives in the process industries, including a number of global multi-site projects."
AspenTech has developed industry-specific supply chain optimization solutions for over 20 years. Hundreds of leading process manufacturing companies are realizing millions of dollars in sustained annual benefit due to cost reduction and avoidance, inventory savings, improved customer service, and increased capacity. AspenTech continues to focus on minimizing total cost of ownership throughout the lifecycle of a project, resulting in solutions that consistently deliver outstanding return on investment.
"In today's dynamic business environment, there are significant opportunities for global process manufacturers to improve the performance of their supply chains," said Steve Pringle, Sr. Vice President of AspenTech's Manufacturing/Supply Chain Business Unit. "AspenTech has continued to develop innovative, high-value supply chain products for our customers, and we are committed to maintaining that investment in the future. Our latest vertical industry solutions allow process companies to realize the benefits of demand-driven supply networks, enabling them to respond more quickly to their customers and to maximize the efficiency of their operations."
(a) Supply Chain Planning & Collaboration Worldwide Outlook -- Market Analysis and Forecast through 2008, published 2003 by ARC Advisory Group. Project Team: Steve Clouther, Steve Banker and Sid Snitkin.
Aspen Technology, Inc. provides industry-leading software and implementation services that enable process companies to increase efficiency and profitability. AspenTech's engineering product line is used to design and improve plants and processes, maximizing returns throughout an asset's operating life. Its manufacturing/supply chain product line allows companies to increase margins in their plants and supply chains, by managing customer demand, optimizing production, and streamlining the delivery of finished products. These two offerings are combined to create solutions for enterprise operations management (EOM), integrated enterprise-wide systems that provide process manufacturers with the capability to dramatically improve their operating 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. 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 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, and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
CONTACT: For Media:
Aspen Technology, Inc.
Peter Watt, +44 1223 819-752
Aspen Technology, Inc.
Robin Swanger, 218-504-3256
Aspen Technology, Inc.
Joshua Young, 617-949-1274