BASF Extends Adoption of AspenTech's Engineering Solutions to Optimize Design and Efficiency of Production Processes
Business Editors/Technology Editors
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 19, 2006--Aspen Technology, Inc. (NASDAQ: AZPN), today announced that BASF, one of the world's leading chemical companies, has signed a multi-million dollar license agreement to expand its use of AspenTech's engineering solutions. The new agreement extends BASF's commitment to the aspenONE Process Engineering applications as a company standard for collaborative engineering and process design and optimization. The company uses the applications to optimize the design and efficiency of the production processes at new plants and in existing facilities worldwide.
The agreement provides BASF with flexible access to a broader range of applications, which includes Aspen Plus, Aspen Batch Plus and Aspen Simulation Workbook. It also marks the second phase of the company's roll-out of AspenTech's collaborative engineering solution, based on the Aspen Zyqad(TM) platform. The combination of applications enables BASF to achieve more efficient work processes for major plant engineering projects, maximize plant productivity, and minimize overall lifecycle costs.
"BASF is committed to implementing best practice engineering work processes across its global operations," said Dr. Kurt Raschka, Senior Vice President, Corporate Engineering, BASF. "AspenTech's aspenONE Process Engineering, as an integrated application suite, provides us with the comprehensive set of advanced tools to support our engineering workflow and to deliver reduced project cycle times. The new agreement also gives us the flexibility to balance software availability with the needs in different phases of our engineering workflow."
In addition to being established as a standard within BASF's Corporate Engineering group, the aspenONE applications are also extensively used within the company's "Research Verbund" for process development, and by Plant Engineers to improve operational performance at global production sites.
"Process innovation is a key part of BASF's strategy," said Dr. Martin Stohrmann, Senior Vice President, Global Chemical Technology, BASF Research Verbund. "The aspenONE approach of this latest agreement gives our research teams access to the broadest range of products as part of a standard toolset, including specialized products that are used to perform more advanced tasks. This will complement our process development capabilities, and improve engineering efficiency."
"We are very pleased that BASF recognizes the significant value aspenONE delivers throughout the engineering lifecycle, from concept development to operational improvements in the plant, and we look forward to continuing to expand our strong relationship," said Blair Wheeler, Senior Vice President, AspenTech. "Our integrated aspenONE Process Engineering application suite helps leading companies streamline their engineering workflows and establish best practices across their organization based on consistent data and processes."
License revenue from this transaction was recognized in AspenTech's fiscal quarter ended June 30, 2006.
BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products, agricultural products and fine chemicals to crude oil and natural gas. As a reliable partner to virtually all industries, BASF's intelligent system solutions and high-value products help its customers to be more successful. BASF develops new technologies and uses them to open up additional market opportunities. It combines economic success with environmental protection and social responsibility, thus contributing to a better future. In 2005, BASF had approximately 81,000 employees and posted sales of more than EUR 42.7 billion. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA), New York (BF) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.
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.
This press release may contain forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may vary significantly from AspenTech's expectations based on a number of risks and uncertainties, including, without limitation: AspenTech's plan to improve operational performance may not be implemented effectively; AspenTech has identified material weaknesses in its internal controls with respect to software license revenue recognition and other matters, that, if not remedied effectively, could result in material misstatements; risks around securities litigation and investigations; AspenTech's lengthy sales cycle 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; the possibility of new accounting standards or the interpretation of existing accounting standards affecting our financial results; AspenTech's ability to raise additional capital as required; intense competition; AspenTech's need to develop and market products successfully; reliance on relationships with strategic partners; challenges associated with international operations; and other risk factors described from time to time in AspenTech's periodic reports filed with the Securities and Exchange Commission. AspenTech cannot guarantee any future results, levels of activity, performance, or achievements. AspenTech expressly disclaims any current intention to update forward-looking statements after the date of this press release.
AspenTech, aspenONE, Aspen Plus, Aspen Batch Plus, Aspen Simulation Workbook, Aspen Zyqad and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
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SOURCE: Aspen Technology, Inc.