Chiyoda Expands Use of AspenTech's Process Engineering Solutions.Leading Japanese engineering and construction company extends commitment to AspenTech applications with new multi-year agreement CAMBRIDGE, Mass. -- 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), today announced that Chiyoda Corporation, Japan's leading engineering and construction firm, has signed a new multi-year license agreement for AspenTech's process engineering solutions. The agreement provides Chiyoda with increased access to a broad range of applications, including Aspen HYSYS[R], Aspen Plus[R], Aspen Icarus[TM] and Aspen Zyqad[TM]. The applications will help Chiyoda deliver superior, cost-effective solutions to its customers in the gas processing, chemical and refining industries. "The strong demand for Chiyoda's engineering and construction services, particularly in the gas processing sector, means that our engineers require tools that will help them work efficiently and collaborate effectively across the organization," said Mr. Takashi Kubota, Managing Director, Technology & Engineering , Chiyoda Corporation. "AspenTech's range of integrated process engineering applications provides our teams with a standard toolset which will enable them to improve their productivity and consistency, and further enhance the quality and value of the services we provide." The new agreement builds on the existing relationship between the two companies by providing Chiyoda with access to an expanded range of AspenTech's process engineering technologies. The applications enable workflow-based solutions that are designed to increase engineering efficiency, and are used for key functions like designing and optimizing new processes, estimating, and the detailed engineering of process units. The agreement includes the Aspen Zyqad collaborative engineering platform which will help Chiyoda to streamline its engineering work processes and improve collaboration between both internal and external teams. "Chiyoda is recognized as a leading supplier of engineering and construction services to the process industries," said Blair Wheeler, Senior Vice President, AspenTech. "The decision to expand their usage of AspenTech's engineering solutions reflects the value that these technologies deliver to engineering service providers and their clients, and will enable Chiyoda to maximize their engineering efficiency." License revenue from this project was recognized in the fiscal quarter ended June 30, 2006. About Chiyoda Chiyoda Corporation, headquartered in Yokohama, Japan, provides services on a global basis in the field of engineering, procurement and construction  The introduction to this article is vague. To comply with Wikipedia's guidelines, it should be improved. for gas processing, refineries and other hydrocarbon and industrial plant projects, particularly for LNG LNG (liquefied natural gas): see under natural gas. , GTL GTL - Gunning Transceiver Logic and DME (Distributed Management Environment) A network monitoring and control protocol defined by the Open Software Foundation (now The Open Group). DME was not widely used. DME - Distributed Management Environment . For more information, visit www.chiyoda-corp.com. About AspenTech Aspen Technology, Inc. provides industry-leading software and professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. that help process companies improve efficiency and profitability by enabling them to model, manage and control their operations. The new generation of integrated aspenONE[TM] solutions is 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 “CVX” redirects here. For the United States Navy future aircraft carrier program, see United States Navy CVN-21 program. Chevron Corporation (NYSE: CVX) is one of the world's largest global energy companies. , DuPont, ExxonMobil, Fluor, GlaxoSmithKline, Sanofi-Aventis, Shell and Total. For more information, visit www.aspentech.com. This press release may contain forward-looking statements 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. Actual results may vary significantly from AspenTech's expectations based on a number of risks and uncertainties, including, without limitation: AspenTech's plan to improve operational performance may not be implemented effectively; AspenTech has identified material weaknesses in its internal controls with respect to software license revenue recognition and other matters, that, if not remedied effectively, could result in material misstatements; risks around securities litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and investigations; AspenTech's lengthy sales cycle 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; the possibility of new accounting standards or the interpretation of existing accounting standards affecting our financial results; AspenTech's ability to raise additional capital as required; intense competition; AspenTech's need to develop and market products successfully; reliance on relationships with strategic partners; challenges associated with international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. ; and other risk factors described from time to time in AspenTech's periodic reports filed with the Securities and Exchange Commission. AspenTech cannot guarantee any future results, levels of activity, performance, or achievements. AspenTech expressly disclaims any current intention to update forward-looking statements after the date of this press release. AspenTech, aspenONE, Aspen HYSYS, Aspen Plus, Aspen Icarus, Aspen Zyqad and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass. |
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