BASF Selects AspenTech's Integrated Engineering Solution
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sept. 3, 2004--Aspen Technology, Inc. (Nasdaq: AZPN)
Leading chemical company deploys solution based on Aspen Zyqad(TM) collaborative engineering environment to streamline work processes on major plant projects
Aspen Technology, Inc. (Nasdaq: AZPN) today announced that BASF, one of the world's leading chemical companies, has signed a multi-year license agreement to deploy AspenTech's integrated engineering solution, which is based on the Aspen Zyqad collaborative engineering environment. BASF will use the software solution in combination with other Aspen Engineering Suite(TM) solutions to enable more efficient work processes for major plant engineering projects.
"As the world's largest chemical company, BASF needs efficient global standards and work practices," said Dr. Thomas Bott, Senior Vice President of Corporate Engineering at BASF. "AspenTech's integrated engineering solution enables best practice engineering work processes that will result in improved efficiency and reduced project cycle time. After a thorough technical evaluation of the solution, a joint BASF and AspenTech team performed a work process study that identified significant benefits."
During a first implementation phase, AspenTech's solution will primarily be applied in BASF's engineering units to manage the process flow diagrams, equipment datasheets, and other documents generated during the conceptual and extended basic design phases. Work processes will be streamlined through integration with other key design and engineering systems used by BASF, notably Intergraph's product suite and a number of in-house applications.
A second phase of the implementation is envisaged to start early in 2005. During this phase, the solution is planned to be deployed to other engineering disciplines in the Corporate and Works Engineering units, such as mechanical, electrical and instrumentation.
"We see this first implementation phase as a major step in establishing AspenTech's integrated engineering solution as the corporate standard in BASF," said David McQuillin, President and Chief Executive Officer of AspenTech. "The solution will help to build on the key strengths of BASF by enabling engineering data to be shared consistently across multiple disciplines and groups. It will also provide a platform to capture best practices and corporate knowledge in a standard system, resulting in improved efficiency and quality in the company's front-end engineering processes."
The deployment of the integrated engineering solution by BASF follows the company's recent decision to select AspenTech's information management solution as the foundation of a new Manufacturing Execution System (MES) strategy for its worldwide manufacturing plants.
BASF is the world's leading chemical company. Our goal is to grow profitably and further increase the value of our company. We help our customers to be more successful through intelligent system solutions and high-quality products. BASF's portfolio ranges from chemicals, plastics, performance products, agricultural products and fine chemicals to crude oil and natural gas. Through new technologies we can tap into additional market opportunities. We conduct our business in accordance with the principles of sustainable development. In 2003, BASF had sales of more than EUR 33 billion (circa $42 billion) and over 87,000 employees worldwide. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA), New York (BF), Paris (BA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.
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, particularly the first paragraph. 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 ability to make its revenue goals; 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, Aspen Engineering Suite, Aspen Zyqad and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
CONTACT: Aspen Technology, Inc.
Robin Swanger, 281-504-3256
Joshua Young, 617-949-1274
SOURCE: Aspen Technology, Inc.