Bayer's Polyurethane Business Group Selects AspenTech's Operator Training Simulator Software
New Agreement Provides Key Technology to Support Major Expansion of Polyurethane BusinessAspen Technology, Inc., (Nasdaq: AZPN) today announced that Bayer's Polyurethane Business Group has selected AspenTech as its preferred supplier of operator training simulator software. Bayer will use the Aspen OTISS(TM) software to build a series of training simulators for new plants being constructed by the Polyurethane Group, starting with the first facility in Dormagen, Germany.
The Aspen OTISS dynamic simulation software enables the creation of large- scale real-time simulation models. Bayer will use these models to validate process designs, study operability, check out control configurations and train operators in safe and efficient plant operation prior to start-up.
"This new agreement is an important element of our strategic initiative to expand the Polyurethane business," said Dr. Gunther Weymans, Head of Technology, Bayer Polyurethane Division. "We expect that use of this technology will enable our new plants to come on-stream more efficiently and generate earlier returns."
Bayer selected AspenTech after a detailed evaluation and successful application of the technology. Key factors were the quality and accuracy of the technology, AspenTech's support, and the sustained long-term value that the solutions provide.
"Bayer has been a key customer and advanced user of our technologies for many years," said David McQuillin, Executive Vice President and co-chief operating officer of AspenTech. "This agreement is a significant extension of our relationship, and is a reflection of the value that AspenTech's training simulator solutions can create for process manufacturers."
Aspen OTISS is AspenTech's simulation software used for the creation of real-time dynamic models of complete plants and the associated control systems, and provides an industry-leading technology platform for operator training systems. AspenTech is a market leader in these systems, and uses Aspen OTISS to develop Virtual Plant Simulators for existing and new plants worldwide, covering a diverse range of applications including oil and gas, refining, chemicals and polymers.
About the Bayer Group
Bayer is a diversified, international health care and chemicals company. It is research-based and aims for technological leadership in its core activities. Bayer offers its customers a wide variety of products and services in areas ranging from health care, crop protection and animal health to plastics and specialty chemicals. It manufactures about 10,000 products, ranging from acids and basic chemicals through organic and inorganic intermediates to sales products for manufacturers and consumers. The Bayer Group comprises more than 350 companies in nearly all the countries of the world. For 2000, the group recorded sales of EUR 31 billion and group net income of EUR 1.8 billion. On March 31, 2001 the Bayer Group had 118,600 employees in its continuing operations.
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 21 years of process industry experience to increase revenues, reduce costs and improve capital efficiency. AspenTech's customers include: Air Liquide, AstraZeneca, Bayer, BASF, BP, ChevronTexaco, Dow Chemical, DuPont, ExxonMobil, GlaxoSmithKline, Lyondell Equistar, 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.
AspenTech, Aspen ProfitAdvantage, Aspen OTISS and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
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