Aspen Technology Announces Expansion of Plantelligence License by Lyondell Chemical Company.CAMBRIDGE, Mass.--(BUSINESS WIRE)--Sept. 1, 1998-- Based on early returns from pilot project, Lyondell licenses AspenTech products and services for Lyondell-Citgo Refining, Lyondell Methanol Company and Equistar Chemicals, LP Aspen Technology Aspen Technology (NASDAQ: AZPN) provides software and professional services to the manufacturing and process industries which allows companies to model, manage, and control their operations. AspenTech was founded in 1981 by MIT professor Dr. Inc. (Nasdaq:AZPN), the leading provider of SMART Manufacturing and Supply Chain Management software and services for the process industries, today announced the expansion of its licensing agreement with Houston-based Lyondell Chemical Co. In mid-1997, Lyondell and AspenTech announced a strategic alliance, which included plans to pilot AspenTech's Plantelligence(tm) suite of software and services at Equistar's polymers manufacturing facilities in Matagorda County, Texas Matagorda County is a county located in the U.S. state of Texas. As of 2000, the population was 37,957. Its county seat is Bay City6. Matagorda County is named for the canebrakes which once grew along the coast (Matagorda is a Spanish word meaning "thick bush"). . Now, based on several months of data prior to the completion of the pilot, Lyondell has elected to implement AspenTech solutions at nine of its manufacturing facilities. The pilot project covers customer order-entry through product manufacturing and supply and distribution at Equistar's world-class high-density polyethylene high-density polyethylene n. Abbr. HDPE A strong, relatively opaque form of polyethylene having a dense structure with few side branches off the main carbon backbone. facility. Equistar, AspenTech and SAP America are collaborating on the pilot, which is integrating Equistar's SAP R/3 enterprise resource planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. (ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. ) system with AspenTech's Plantelligence software for process simulation, control, optimization and management. The agreement enables Lyondell (which now includes the former Arco Chemical Co.) to extend the Plantelligence license to: -- Lyondell-Citgo Refining Company, of which Lyondell owns 58 percent -- Lyondell Methanol Company, of which Lyondell owns 75 percent -- Equistar Chemicals, LP, a joint venture with Millenium Chemicals and Occidental oc·ci·den·tal or Oc·ci·den·tal adj. Of or relating to the countries of the Occident or their peoples or cultures; western. n. A native or inhabitant of an Occidental country; a westerner. Noun 1. Chemical, of which Lyondell owns 41 percent J.R. Fontenot, vice president of engineering at Equistar Chemicals, LP, said: "Equistar is determined to deliver to its owners and to the shareholders of Lyondell Chemical Co. the rewards of full integration between our ERP and plant technologies. Aspen Technology has played a role in enabling us to reach our stated goal of using technology to strengthen our position as a leading supplier of polyethylene and other chemicals." "This agreement with Lyondell, a world-class manufacturing company, is a confirmation of AspenTech's Plantelligence strategy," said Larry Evans
Larry Melvyn Evans (born March 23, 1932) is an American chess grandmaster and journalist. He has won the U.S. Chess Championship four times. , chairman and chief executive of Aspen Technology. "Plantelligence can bring measurable value to customers seeking to maximize profitability, from pilot through full implementation. "We are excited to accelerate the application of our offerings across the supply chain of one of the premier companies in this industry. Dan Smith, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Lyondell, and Lyondell are reshaping the configuration of their industry, just as AspenTech is reshaping the process manufacturing The manufacturing industry that uses process control systems. See process control. industry with Plantelligence." Randy Lewis This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. , director of information services See Information Systems. for Equistar Chemicals, LP, stated: "Working with both SAP and AspenTech, we will achieve a new level of best practices, one based on true integration of the enterprise across the supply chain of refining, petrochemicals and polymers. The tight nature of this integration along with the high-fidelity models from AspenTech makes enterprise optimization a reality." About AspenTech Aspen Technology (www.aspentech.com) is a leading supplier of software and services for the design and automation of process manufacturing plants and the optimization of the supply chain in process industries including chemicals, petrochemicals, petroleum refining, pulp and paper, metals and minerals, electric power, pharmaceuticals, semiconductor, consumer packaged goods Noun 1. packaged goods - groceries that are packaged for sale foodstuff, grocery - (usually plural) consumer goods sold by a grocer plural, plural form - the form of a word that is used to denote more than one , and food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. . Process manufacturers use AspenTech's solutions to improve the way they design, operate and manage their plants and global supply chain. These solutions enable manufacturers to reduce their raw material, energy and capital expenses; meet environmental and safety regulations; improve customer service levels; reduce inventory requirements; improve product quality; and shorten the time required to get new production processes on stream. AspenTech employs more than 1,500 and has headquarters in Cambridge, with offices in 22 countries worldwide. Plantelligence, AspenTech's suite of products and services, is the process manufacturing industry's only complete solution for optimizing manufacturing enterprises from supply chain to plant execution. Deep process knowledge, combined with world-leading optimization expertise and integration with ERP and open control systems, brings AspenTech manufacturing customers' businesses closer to their true potential. This press release contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties, including the first and third paragraphs. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could be inaccurate and there can be no assurance that actual results will be the same as those indicated by the forward-looking statements, that Lyondell will implement the AspenTech solution at all nine facilities, or that Lyondell will implement the Plantelligence license in all of its holdings. Additional factors that could cause actual results to differ materially from those indicated by such forward-looking statements include the risks set forth under the caption "Risk Factors" in Aspen Technology's Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. filed June 3, 1998, which factors are incorporated herein by reference. NOTE: AspenTech, Plantelligence and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass. All other marks are trademarks of their respective owners.
CONTACT: Aspen Technology Inc., Cambridge
Toni Lee Rudnicki, 617/949-1000
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