Tosoh Selects AspenTech's Engineering Solutions to Improve Process Efficiency and Shorten Time-to-Market
Leading Japanese diversified chemicals company uses Aspen Engineering Suite(TM) to respond more quickly to customer requests for new productsAspen Technology, Inc, (Nasdaq: AZPN) today announced that Tosoh Corporation, a leading global chemical and specialty materials company, has signed a new 5- year software license agreement for the Aspen Engineering Suite(TM) (AES). AspenTech's engineering solutions enable Tosoh to enhance its process development and engineering capability and to shorten time-to-market for new products.
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"We chose AspenTech's Engineering Suite as our corporate standard engineering tool because of its ability to deliver tangible benefits," said Ichiro Hiraki, Tosoh's managing director. "We want to reduce our costs, increase our capacity and shorten our time-to-market. The AES technology will play a key role in achieving these goals and will reinforce Tosoh's position as a leading specialty chemicals manufacturer."
The Aspen Engineering Suite is AspenTech's solution for Process Asset Lifecycle Management (PALM). It enables companies to achieve an optimal return on their process assets, execute projects in the shortest possible time, and maximize the operational performance of each manufacturing plant. Based on open standards, AES allows process manufacturers to use the best available tools for each part of an engineering project and manage process assets through their entire lifecycle from planning and design to operations.
"The Aspen Engineering Suite provides process companies with a comprehensive set of optimization and decision-making tools," said David McQuillin, co-chief operating officer of AspenTech. "The AES solution will enable Tosoh to accelerate the development of new products, provide a faster response to end-user requirements and improve the process and engineering capabilities required to maintain Tosoh's position as a leading diversified global chemicals manufacturer."
About Tosoh Corporation
Headquartered in Tokyo, Japan, Tosoh Corporation is a diversified global chemical and specialty materials company. A major producer of caustic soda, vinyl chloride monomer (VCM), and polyvinyl chloride (PVC), the company holds a strong position in the Asian region and is a leading producer of PVC resins, chloroprene rubber, PVC paste, and ethylene amines. Founded in 1935, the Company has expanded its reach into high value-added businesses such as fine chemicals, scientific instrumentation, thin film materials, and quartzware. Tosoh is a multi-billion dollar corporation that employs more than 9,000 people in 18 countries. The Company is listed on the Tokyo, Osaka, Nagoya, and Fukuoka Stock Exchanges.
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.
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