Largest Publicly Held Petrochemicals Company in the Philippines Unlocks Untapped Value in Production Optimization with AspenTech Solutions
BEDFORD, Mass.--(BUSINESS WIRE)--Aug. 16, 2022--
Aspen Technology, Inc. (NASDAQ: AZPN), a global leader in industrial software, today announced that the largest petrochemicals company in the Philippines, JG Summit Olefins Corporation (JGSOC), is advancing its journey toward operational excellence by unlocking untapped value in production optimization. This planned deployment with Aspen Unified PIMS™ supports the company’s innovation-driven vision and is projected to boost operating margin by optimizing feedstock selection at the crackers. The JGSOC expansion project is a step toward further diversification of the local petrochemical and chemical industries and is envisioned to strengthen the industrial value chain linkages for the manufacturing sector.
Samuel Co Chan, Vice-President for Supply Trading and Product Optimization, JG Summit Olefins Group, said: “AspenTech’s distinct and transparent solutions align with JGSOC’s pursuit of operational excellence by deploying the best and most efficient technologies. As the leading, value-driven, and highly innovative software, Aspen Unified PIMS can enable production optimization with greater intuition, accuracy, and accessibility. JGSOC is deriving current benefits in plant efficiency and productivity with Aspen Plus® and Aspen DMCplus® solutions.”
Lawrence Ng, Vice President of Sales, Asia Pacific & Japan, Aspen Technology, added: “AspenTech is pleased to deepen our partnership with JG Summit Olefins Group through the company’s latest adoption of Aspen Unified PIMS software. In advancing toward the Self-Optimizing Plant, this planned deployment empowers JGSOC with a scalable technology solution amidst industry skills shortage.”
About JG Summit Petrochemicals Group
JG Summit Olefins Corporation (JGSOC) is the country’s largest petrochemical company in the Philippines. Since its establishment in 1998, it has been a pioneer in the local petrochemical industry through its wholly owned and fully integrated petrochemical complex located in Batangas City, south of Metro Manila. Its products include polyethylene and polypropylene resins, olefins, butadiene and aromatics products, used both by domestic and international manufacturers. Since January 1, 2022, the two subsidiaries under the JG Summit Petrochemicals Group – JG Summit Petrochemical Corporation and JG Summit Olefins Corporation – have merged, with the latter as the surviving entity, and with all business operations now under JGSOC. JGSOC is 100% owned by JG Summit Holdings, Inc. Visit https://jgspetrochem.com/ to find out more.
About Aspen Technology
Aspen Technology, Inc. (NASDAQ: AZPN) is a global software leader helping industries at the forefront of the world’s dual challenge meet the increasing demand for resources from a rapidly growing population in a profitable and sustainable manner. AspenTech solutions address complex environments where it is critical to optimize the asset design, operation and maintenance lifecycle. Through our unique combination of deep domain expertise and innovation, customers in capital-intensive industries can run their assets safer, greener, longer and faster to improve their operational excellence. To learn more, visit AspenTech.com.
© 2022 Aspen Technology, Inc. AspenTech, aspenONE, the Aspen leaf logo, Aspen, Aspen Unified PIMS, Aspen Plus and Aspen DMCplus are trademarks of Aspen Technology, Inc. All rights reserved.
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Source: Aspen Technology, Inc.