Aspen Technology and OLI Systems Announce Collaboration.CAMBRIDGE, Mass./MORRIS PLAINS, N.J.--(BUSINESS WIRE)-- Dec. 9, 1998-- AspenTech and OLI OLI Open Learning Initiative (RSA) OLI Operation Lifesaver, Inc. OLI Open Learning Institute (Britain) OLI Originating Line Information (qualifies Automatic Number Identification) Systems will deliver software that will improve the analysis, design and operation of industrial processes involving aqueous electrolytes 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 NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AZPN), the leading provider of Smart Manufacturing and Supply Chain Management software and services for the process industries, and OLI Systems, Inc., today announced a collaboration to deliver software solutions to the chemical process industries. Under the terms of the agreement, the companies will work together to offer Aspen OLI, a new software solution that will enable process engineers to quickly and reliably perform process modeling and analysis of aqueous electrolyte systems. Aspen OLI, together with Aspen SEP 1. SEP - Someone Else's Problem. 2. (tool) SEP - A SASD tool from IDE. (tm) (Solids and Electrolytes Plus) technology, provides the chemical process industries with a comprehensive solution to model aqueous electrolyte systems over the complete concentration range, including most of the elements in the Periodic Table. AspenTech and OLI will jointly deliver Aspen OLI process modeling software, which will be used in companies' major chemical processes. Aspen OLI will enable users to access the predictive capability of the OLI Engine from Aspen Engineering Suite(tm) models. This allows chemical companies to quickly perform process modeling and analysis of aqueous electrolyte systems and to improve design and operation of industrial processes involving aqueous electrolytes. "For more than two decades, we have been dedicated to technology and software development for the prediction of chemical systems involving aqueous electrolytes," said Dr. Marshall Rafal, president of OLI Systems. "Now, by means of this alliance, we are empowering the user with a tool to better understand the processes involving aqueous electrolytes. The result will enable the industry to lower cost, increase profits and conform to Verb 1. conform to - satisfy a condition or restriction; "Does this paper meet the requirements for the degree?" fit, meet coordinate - be co-ordinated; "These activities coordinate well" increasingly stringent environmental regulations." "This collaboration combines OLI's extensive database in predicting phase behavior of aqueous electrolyte systems with AspenTech's comprehensive thermodynamic ther·mo·dy·nam·ic adj. 1. Characteristic of or resulting from the conversion of heat into other forms of energy. 2. Of or relating to thermodynamics. models for aqueous electrolyte and mixed solvent electrolyte systems," said Vladimir Mahalec, senior vice president of Aspen Technology, Inc. "By combining the technological strengths of both organizations, we will be able to offer customers a total modeling solution that will be compatible with the Aspen Engineering Suite and will leverage our ability to provide superior modeling solutions for industrial processes with electrolytes." About OLI Systems OLI Systems, Inc., (www.olisystems.com) is a leading supplier of software and services for the prediction of processes involving aqueous-based electrolyte systems. OLI's software products predict the behavior of virtually any mixture of chemicals, in water, at almost any condition of interest. The heart of OLI's software suite is the OLI Engine, which includes a databank covering most of the elements in the Periodic Table. The Engine then forms the basis for a series of specialty products known as the Environmental Simulation Program (ESP (1) (Enhanced Service Provider) An organization that adds value to basic telephone service by offering such features as call-forwarding, call-detailing and protocol conversion. ), the Corrosion Simulation Program (CSP (1) (Certified Systems Professional) An earlier award for successful completion of an ICCP examination in systems development. See ICCP. (2) (Commerce Service P ) and ScaleChem, the last of which is applicable to upstream oil and gas scaling problems. OLI is based in Morris Plains, N.J. About AspenTech Aspen Technology, Inc. (www.aspentech.com) is a leading supplier of software and services for the design and automation of process manufacturing The manufacturing industry that uses process control systems. See process control. 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 is headquartered in Cambridge, Mass., with offices in 22 countries worldwide. Plantelligence(tm), 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 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. ) and open control systems, brings AspenTech manufacturing customers' businesses closer to their true potential. This press release contains forward-looking statements, particularly the fourth and fifth paragraphs, that involve a number of risks and uncertainties. Important 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 Current Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Securities and Exchange Commission, which factors are incorporated herein by reference. AspenTech, Plantelligence, Aspen Engineering Suite, Aspen SEP and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass. |
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