Degussa and AspenTech Sign Global Engineering Software Agreement
Degussa global initiative establishes worldwide standard for process asset lifecycle management and enterprise-wide knowledge sharingAspen Technology, Inc., (Nasdaq: AZPN) today announced it has signed a multi- million dollar software license agreement with Degussa AG, Dusseldorf, Germany, the leading global specialty chemical manufacturer. The five-year agreement demonstrates Degussa's commitment to fully implement Aspen Engineering Suite(TM) (AES) technology as a standard for collaborative engineering and design. The optimized workflow capabilities of AES give open access not only to advanced users, but also to non-experts, such as financial and operational decision-makers, leveraging best practice knowledge and boosting performance efficiency and productivity on an enterprise level.
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"AspenTech is enabling Degussa to leverage its long-term investment in process knowledge capture by facilitating an achievable corporate standard for modeling and optimization," stated Ralf Janowsky, Director Computer Aided Process Engineering. "This accumulative expert knowledge will be fully utilized throughout the organization, driving the bottom-line value of Degussa's process asset to the business boundary."
Added Dorothea Schwarz, Chairman of Degussa Aspen Expert Committee: "We have a need to deliver the full functionality of the AES suite directly to the desktop of our engineers within a highly distributed organization. This initiative will build upon the collaborative engineering backbone already established by the successful deployment of AspenTech's technology over the years."
For more than a decade, Degussa has stored a substantial amount of internal process knowledge within its Aspen Plus(R) simulation models, an integral part of AES technology. Degussa's latest initiative builds upon the successful regional deployment of the Aspen WebModels(R) technology, by which the company has already achieved global access to critical simulation models.
"This agreement reflects a significant commitment by both AspenTech and Degussa to mandate work process innovation for competitive advantage on an enterprise-wide scale," said David McQuillin, co-Chief Operating Officer of AspenTech. "The alignment of our mutual objectives strengthens the existing framework for a long-term relationship built on measurable results and sustainable achievement."
The Aspen Engineering Suite of solutions for Process Asset Lifecycle Management (PALM) integrates best-in-class engineering technologies designed to increase engineering efficiency, return-on-capital and operational margins. Effective use of these tools increases operating margins and maximizes return on capital employed. Such results are achieved through enhanced integration, seamless data transfer, and the effective re-use of process knowledge based on the development of a single asset model utilized by the entire enterprise.
About Degussa AG
Degussa is an entirely newly-formed, multinational corporation consistently aligned to highly profitable specialty chemistry. With sales of EUR12.9 billion and a workforce of some 53,400, it is Germany's third-largest chemical company and world market leader in specialty chemicals. In fiscal 2001, the corporation generated operating profits (EBITA) of more than EUR1 billion. Degussa's core strength lies in highly-effective system solutions tailored to the requirements of its customers in over 100 countries throughout the world. Its activities are led by the vision "Everybody benefits from a Degussa product - every day and everywhere".
Aspen Technology, Inc. is a leading supplier of enterprise software to the process industries, enabling its customers to increase their margins and optimize their business performance. AspenTech's engineering solutions, incorporating Hyprotech's technologies, help companies design and improve their plants and processes, maximizing returns throughout their operational life. AspenTech's supply chain manufacturing solutions allow companies to run their plants and supply chain more profitably, from customer demand through to the delivery of the finished product. Over 1,200 leading companies rely on AspenTech's software every day to drive improvements across their most important engineering and operational processes. AspenTech's customers include: Air Liquide, AstraZeneca, Bayer, BASF, BP, ChevronTexaco, Dow Chemical, DuPont, ExxonMobil, GlaxoSmithKline, Lyondell Equistar, Merck, Mitsubishi Chemical, Shell 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 Engineering Suite, Aspen Plus, Aspen WebModels and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
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