CB&I Extends Use of aspenONE(R) Process Engineering Solutions to Support Business Growth
Leading Engineering Company Extends Commitment to AspenTech's Engineering Solutions Across Oil & Gas, Petrochemical and Chemical Business Units
BURLINGTON, Mass.--(BUSINESS WIRE)--Oct. 15, 2007--Aspen Technology, Inc. (NASDAQ: AZPN), today announced that CB&I (Chicago Bridge & Iron Company N.V.), one of the world's leading engineering and construction (E&C) companies, signed a new multi-year license extension for the aspenONE Process Engineering application suite. The agreement extends CB&I's commitment to AspenTech's engineering solutions for process simulation, design and performance optimization across its Oil & Gas, Petrochemical and Chemical business units, both in the U.S. and internationally.
CB&I will extend its use of the aspenONE Process Engineering suite, including Aspen HYSYS(R) and Aspen Plus(R), which are used to design oil & gas facilities, refineries, or chemical plants. Aspen Plus(R) is the market leader for process simulation for the Chemical industry, used by 50 of the top 50 Chemical companies; Aspen HYSYS(R) is recognized as the industry standard process modeling application for the Exploration & Production (E&P) and Refining industries.
The CB&I agreement for the aspenONE suite is based on a flexible licensing system that enables users across the company to optimize the use of the full range of applications. This allows CB&I to react quickly to project and business demand and support the delivery of services to its Oil & Gas, Petrochemical and Chemical customers across all international markets.
The aspenONE Process Engineering integrated suite of applications dramatically improves engineering productivity, design quality and time-to-market by supporting Conceptual & Basic Engineering and Operations Optimization through consistent models, data re-use and concurrent engineering workflow. By providing insights into plant and equipment behavior for optimal decision-making, the applications help companies reduce capital and operating costs and increase engineering efficiency and quality. These productivity enhancements are particularly important in the E&P business because of the shortage of skilled engineers and high demand for engineering services.
"For leading E&C companies such as CB&I who serve E&P, Refining and Chemicals markets, the aspenONE Process Engineering application suite is an important IT asset providing the means to deliver a comprehensive range of services to their clients," said Antonio Pietri, Executive Vice President, AspenTech. "CB&I's continuing commitment to the aspenONE suite is a reflection of the value that these integrated applications can deliver to leading E&C companies and their process industry clients throughout the project lifecycle."
About CB&I
CB&I (Chicago Bridge & Iron Company N.V.) is one of the world's leading engineering, procurement and construction (EPC) companies, specializing in lump-sum turnkey projects for customers that produce, process, store and distribute the earth's natural resources, with more than 60 locations and approximately 14,000 employees throughout the world.
CB&I is a fully integrated EPC service provider, offering a complete package of conceptual design, engineering, procurement, fabrication, field construction, mechanical installation and commissioning. CB&I serves customers in a number of key industries including oil and gas; petrochemical and chemical; power; water and wastewater; and metals and mining. Its projects include hydrocarbon processing plants, LNG terminals and peak shaving plants, offshore structures, bulk liquid terminals, water storage and treatment facilities, and other steel structures and their associated systems. CB&I also provides a broad range of maintenance and repair services, including complete turnarounds for petroleum refining and petrochemical plants.
About AspenTech
AspenTech is a leading provider of award-winning process optimization software and services. AspenTech's integrated aspenONE solutions enable manufacturers to reduce costs, increase capacity, and optimize operational performance end-to-end throughout the engineering, plant operations, and supply chain management processes, resulting in millions of dollars in cost savings. For more information, visit www.aspentech.com.
CONTACT: AspenTech
David Grip, +1-781-221-5273
david.grip@aspentech.com
or
For AspenTech
Lois Paul & Partners
Kristin Cronin, +1-781-782-5771
aspentech@lpp.com
SOURCE: Aspen Technology, Inc.