Samsung General Chemicals Achieves Major Savings in Energy Costs with AspenTech Solution
AspenTech software helps to identify efficiency improvements that will deliver millions in annual benefits
Aspen Technology, Inc. (Nasdaq: AZPN) today announced that Samsung General Chemicals (SGC) has successfully used AspenTech's engineering software and process design expertise to achieve significant energy savings at one of its major manufacturing facilities. The AspenTech solution has enabled SGC to dramatically reduce the facility's annual energy costs, delivering a payback of its capital investment within six months.(Photo: http://www.newscom.com/cgi-bin/prnh/20000811/ASPENLOGO )
The savings were realized at SGC's eight-unit aromatics complex in Daesan, Korea, which produces 500,000 tons per year of paraxylene and 280,000 tons per year of benzene. With an energy bill reaching in the tens of millions of dollars per year, energy reform became a key corporate focus for SGC to remain competitive.
Using process modeling and pinch/column analysis expertise, coupled with Aspen Engineering Suite(TM) (AES) technologies, AspenTech's process design group identified the main process inefficiencies within the plant complex. Based on this analysis, the group produced an energy savings plan, which outlined the changes required to maximize overall energy efficiency. The plan was recently implemented, and the audited results reveal yearly savings of at least 12 percent of total energy consumption.
"AspenTech's experience in the chemical industry has been fundamental to the success of this project," said Hong-sik Ko, President and CEO, Samsung General Chemicals, Ltd. "By leveraging its technology and its process design knowledge, we have identified savings that far exceeded our expectations."
The project's success was formally acknowledged by SGC with the presentation of its Samsung General Chemicals Excellence Award, which recognizes significant achievements in technology and general expertise.
"The savings identified by Samsung General Chemicals demonstrate the significant bottom- line improvements that can be achieved with AspenTech's engineering solutions," said David McQuillin, co-COO and CEO-elect of AspenTech. "Energy costs represent a major operating expense for chemical manufacturers, and our technologies enable companies to reduce these costs as well as improve their environmental performance."
This project is one of many similar successes that will be highlighted at the upcoming AspenWorld 2002 conference in Washington, D.C., Oct. 27 - Nov. 1. SGC will present these implementation results in greater detail and describe how AspenTech helped them achieve their energy goals. Conference and registration information may be accessed at www.aspenworld2002.com.
The Aspen Engineering Suite helps customers design new, and optimize existing process assets. It enables companies to maximize their return on capital by reducing the cost of investments and improving operating performance.
About Samsung
Samsung General Chemicals (SGC), a subsidiary of the Samsung Group, is a petrochemicals company that manufactures chemical products used as the material components of many everyday items. Among the products we manufacture are olefins, such as ethylene and propylene; basic petrochemicals, such as PX; and polyolefins, such as PE and PP.
About AspenTech
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 and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
Contacts:
For Media:
Peter Watt
Aspen Technology, Inc.
+44 1223 819-752
peter.watt@aspentech.com
Carin Warner
Warner Communications
(978) 526-1960
carin@warnerpr.com
For Investors:
Joshua Young
Aspen Technology, Inc.
(617) 949-1274
joshua.young@aspentech.com
SOURCE Aspen Technology, Inc.
CONTACT:
Peter Watt of Aspen Technology, Inc., +44 1223 819-752,
peter.watt@aspentech.com; or Carin Warner of Warner Communications,
+1-978-526-1960, carin@warnerpr.com; or For Investors: Joshua Young of Aspen
Technology, Inc., +1-617-949-1274, joshua.young@aspentech.com
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