AspenTech Outlines Strategy for Delivering Solutions to the Enterprise Operations Management Market.Business Editors/High-Tech Writers CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec. 9, 2003 Company to Provide Modular Software See modular programming. Solutions to Improve Enterprise-Wide Operational Efficiency of Process Manufacturers 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) today outlined its strategy for delivering modular software solutions to the emerging enterprise operations management Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. (EOM (End Of Message) A character that signals the end of the current message. ) market. In a presentation to attendees of its Annual Shareholder Meeting in Boston, Massachusetts “Boston” redirects here. For other uses, see Boston (disambiguation). Boston is the capital and most populous city of Massachusetts.[3] The largest city in New England, Boston is considered the unofficial economic and cultural center of the entire New this afternoon, the company will summarize several key market drivers that are leading process manufacturers to implement EOM solutions to improve their operational performance. The presentation will be webcast live on AspenTech's website beginning at 3:00 p.m. ET. "Over the past two decades, process manufacturers have achieved productivity improvement by standardizing on integrated plant hardware and 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. ) systems," said David McQuillin, President and 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 AspenTech. "With the benefits of these implementations largely realized and with growing pressures on operating profitability, companies are now focusing on improving their operational performance by standardizing on integrated software Separate software components or applications that have been combined into one package. See integrated software package. solutions to manage and optimize their day-to-day operations. These initiatives are fueling the emergence of a new market space called enterprise operations management." The EOM market has developed as the process industries have adopted operational excellence programs designed to continuously improve the research and development, engineering, manufacturing and supply chain processes that underpin their operations. In recent years these initiatives have expanded from individual departments and plants to become strategic programs designed to achieve operating efficiency and flexibility across the entire enterprise. The emergence of the EOM market is being accelerated by several industry trends including the need to improve operational visibility and flexibility in an increasingly complex environment, the transition to demand-driven supply chains, a renewed emphasis on product innovation, and the desire of CIOs to lower the cost of ownership of their IT systems. "AspenTech has developed a range of integrated EOM solutions that enable process manufacturers to simulate and optimize their global operations Global Operations is a first-person shooter computer game developed by Barking Dog Studios and published by both Crave Entertainment and Electronic Arts. It was released in March of 2002, following its public multiplayer beta version which contained only the Quebec map. so they can make more profitable decisions," said McQuillin. "With their unique ability to model and predict the future financial impact of operational decisions, these solutions will allow companies to maximize capital efficiency, increase operating margins Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: and improve operational flexibility. The creation of these new solutions is an important element of our long-term growth strategy, providing our customers with a path to migrate from individual software products to integrated enterprise solutions tailored to their industry." AspenTech's EOM solutions are based on its best-of-breed applications for engineering, manufacturing and supply chain management that are already used by tens of thousands of users to model and optimize specific aspects of the enterprise. These applications will continue to be regularly updated, and are also being complemented by new products such as Aspen RefSYS(TM) for refinery-wide modeling and Aspen Apollo(TM) for production control in polymers. AspenTech's strategy is to develop a suite of modular vertical EOM solutions to address the major challenges of each segment of the process industries. To enable the company's best-of-breed applications to be leveraged as part of these solutions, AspenTech has developed the new Operations Manager See datacenter manager. suite of software. The products in the Operations Manager suite provide a comprehensive range of capabilities required by enterprise-level solutions, including role-based visualization, performance scorecarding, event management, look-forward analytics and integration infrastructure based on the Aspen Enterprise Platform, which is in use at more than 75 plants worldwide. The Operations Manager suite allows customers to build on their investment in AspenTech and third-party applications to implement scalable EOM solutions that are tailored to their industry. These solutions solve a well-defined array of operational problems specific to each industry and provide active visibility into how manufacturing and supply chain assets are performing. About AspenTech Aspen Technology, Inc. provides industry-leading software and implementation services that enable process companies to increase efficiency and profitability. AspenTech's engineering product line is used to design and improve plants and processes, maximizing returns throughout an asset's operating life. Its manufacturing/supply chain product line allows companies to increase margins in their plants and supply chains, by managing customer demand, optimizing production, and streamlining the delivery of finished products. These two offerings are combined to create solutions for enterprise operations management (EOM), integrated enterprise-wide systems that provide process manufacturers with the capability to dramatically improve their operating performance. Over 1,500 leading companies already rely on AspenTech's software, including Aventis, Bayer, BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida , BP, ChevronTexaco, Dow Chemical, DuPont, ExxonMobil, Fluor, Foster Wheeler, GlaxoSmithKline, Shell, and Total. For more information, visit www.aspentech.com. Paragraphs 2 and 5 of 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. for purposes of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 cyclical industries Cyclical Industry A term describing an industry that is sensitive to the business cycle and price changes. Many cyclical industries produce durable goods such as raw materials and heavy equipment. ; adverse global economic conditions; AspenTech's ability to raise additional capital as required; the FTC's investigation of the Hyprotech acquisition; the outcome of AspenTech's restructuring plans; intense competition; AspenTech's need to develop and market products successfully; 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 and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass. |
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