Gensym Announces Major Purchase By ABB For Intelligent Petroleum Production Automation Application.CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 6, 1997--Gensym Corp. (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 :GNSM), a leading provider of software for intelligent systems, today announced that ABB n. 1. Among weavers, yarn for the warp. Hence, Noun 1. ABB - an urban hit squad and guerrilla group of the Communist Party in the Philippines; formed in the 1980s Simcon has purchased 10 G2 licenses for use in a major petroleum production automation project. ABB uses Gensym's G2 in their iGES (intelligent Graphical Engineering System) Application Server. Scheduled for delivery by ABB in 1998, the system being installed includes applications for planning, scheduling, monitoring, control, optimization and blending of crude oil and gas for Lagoven S.A., one of the world's largest oil and gas producers. "The iGES Applications Server is a graphical model-based system that provides a flexible framework for advanced applications in petroleum, chemical and other process industries," said Steven Sussman, vice-president of ABB Simcon. "The iGES system includes object models for processes and intelligent applications for fault detection, diagnostics, abnormal situation management The Abnormal Situation Management (ASM) Consortium is a long-running and active Honeywell-led research and development consortium of 13 companies and universities that are concerned about the negative effects of industrial accidents. , performance analysis, oil movements & storage, scheduling, and production optimization. The use of Gensym's G2 has enabled the efficient development and implementation of these intelligent applications." The intelligent automation system being provided to Lagoven will eventually include over 5000 wells and seven tank farms and terminals in both the Eastern and Western Regions of Venezuela Venezuela's states, capital district, and federal dependencies have been grouped into administrative regions since a 1969 decree on regionalization that institutionalized a process of region development. . The overall project, including local engineering services, is being managed by ABB Lummus Global, a major provider of engineering services for the chemical, oil and gas industry. Burgess Brier brier or briar, name sometimes given any thorny plant, more specifically the sweetbrier, and the greenbrier. French brier, or brierroot, is a name for the root of the European white heath so widely used in the manufacture of smoking pipes. , Lummus Global project manager, indicated that this is the largest project of its type integrating intelligent model-based applications with a modern distributed SCADA (Supervisory Control And Data Acquisition) A process control application that collects data from sensors and machines on the shop floor or in remote locations and sends them to a central computer for management and control. System. "We are proud to be selected by ABB for this major oil and gas production application," said Robert Moore Robert Moore may refer to
Founded in 1986, Gensym Corp. is a leading supplier of software and services for intelligent systems that help organizations manage and optimize complex dynamic processes. Common applications include quality management, process optimization Process optimization is the practice of making changes or adjustments to a process, to get results. Optimization is the use of specific techniques to determine the most cost effective and efficient solution to a problem or design for a process. , dynamic scheduling, network fault management, energy and environmental management, and abnormal situation management. Gensym has sold more than 7,000 product licenses to organizations in manufacturing, communications, aerospace, transportation, finance and other industries. Based in Cambridge, Mass., Gensym has offices in North America, Europe, Africa and the Pacific Rim. Visit Gensym on line at http://www.gensym.com . This document contains certain forward-looking statements as that term is defined in 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 statements contained herein that are not statements of historical fact may be deemed to be forward looking statements. Without limitation, the words "scheduled for" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, but are not limited to, fluctuations in customer demand, intensity of competition from other solution vendors, and general economic and industry conditions, as well as other risks included in the Company's Form 10-Q Form 10-Q See 10-Q. for the quarter ended June 30, 1997, as filed with the Securities and Exchange Commission. Gensym Corp. assumes no obligation to update the information contained in this press release. CONTACT: Gensym Corp. Betsy Gartner, 617/588-9241 eag@gensym.com |
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