AspenTech Wins 2006 MITX Technology Award for Best Performance Management and Analysis Application.CAMBRIDGE, Mass. -- Aspen PIMS-GO Solution Wins Top Honor at 3rd Annual Awards Ceremony Honoring Innovative Technology Advancements 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) has been selected as a winner in the category of Performance Management and Analytics for the 2006 MITX MITX Massachusetts Innovation & Technology Exchange Technology Awards. The MITX Technology Awards, produced by the Massachusetts Innovation & Technology Exchange, recognize innovative technologies developed in the New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. area, as well as the individuals and organizations responsible for driving these advancements. Honorees for this year's awards were announced June 7th in a ceremony at The Four Season's Hotel in Boston. AspenTech won the award for Aspen PIMS-GO (Process Industry Modeling System - Global Optimization Global optimization is a branch of applied mathematics and numerical analysis that deals with the optimization of a function or a set of functions to some criteria. General The most common form is the minimization of one real-valued function ), the first commercially available global optimization capability designed to determine the global optimum In mathematics, a global optimum is a selection from a given domain which yields either the highest value or lowest value (depending on the objective), when a specific function is applied. for large-scale non-linear planning problems in the Petrochemical and Refining industries. Built on the state-of-the-art Aspen PIMS-XNLP platform, Aspen PIMS-GO technology utilizes the latest algorithmic procedures - developed in collaboration with the world's leading academic researchers -- to solve large-scale global optimization problems in Aspen PIMS PIMS Pacific Institute for the Mathematical Sciences PIMS Penalty Minutes (hockey) PIMS Pakistan Institute of Medical Sciences PIMS Profit Impact of Market Strategy PIMS Project Information Management System (TM), AspenTech's flexible productivity tool for economic planning economic planning, control and direction of economic activity by a central public authority. In its modern usage, economic planning tends to be pitted against the laissez-faire philosophy which developed in the 18th cent. in the process industries. Results can yield gross margins that exceed those determined by the original model by as much as 3% of feedstock costs. For more information on the award, including commentary from AspenTech and MITX executives, please visit http://www.aspentech.com/publication_files/pr-06-13-2006.pdf. About AspenTech Aspen Technology, Inc. provides industry-leading software and professional services that help process companies improve efficiency and profitability by enabling them to model, manage and control their operations. AspenTech's integrated aspenONE(TM) solutions are aligned with the key industry business processes, providing manufacturers the capabilities they need to optimize operational performance, make real-time decisions and synchronize the plant and supply chain. Over 1,500 leading companies already rely on AspenTech's software, including 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, Chevron Corporation, DuPont, ExxonMobil, Fluor, GlaxoSmithKline, Sanofi-Aventis, Shell, and Total. For more information, visit www.aspentech.com. About MITX Established in 1996, MITX--the Massachusetts Innovation & Technology Exchange (MITX: "my-techs") is a community--a constantly expanding business network--where technology, marketing and digital media intersect. Reaching more than 6,000 professionals in New England, MITX offers targeted benefits and growth opportunities designed to meet the unique requirements of its member audiences. MITX is the region's premier association for thought leadership, technology trends, building business relationships and professional training and development. Members of the MITX community take advantage of events, sponsorships, speaking opportunities and networking to make profitable business connections, obtain competitive intelligence, and exchange innovative leadership, management and technical concepts. MITX is headquartered in Cambridge. For more information please go to www.mitx.org |
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