Gensym signs a worldwide corporate agreement with Saudi Aramco.CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dec. 19, 1996--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 creating intelligent systems, today announced that it has signed a worldwide corporate agreement with the Saudi Arabian Oil Company (Saudi Aramco Saudi Aramco, the state-owned national oil company of Saudi Arabia, is the largest oil corporation in the world and the world's largest in terms of proven crude oil reserves and production. ). Saudi Aramco is planning to use Gensym's G2 family of software in a variety of intelligent process management applications across its many operations. "We are quite pleased to be working closely with a world-leading organization such as Saudi Aramco," said Lowell Hawkinson, Gensym chairman 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. . "They have embraced our intelligent software as part of their overall solution for plant automation, and we are glad to have formed a strong relationship with them." Saudi Aramco has purchased Gensym's G2 software for use in a number of applications. At its Ras Tanura Ras Tanura (more accurately Ra's Tannūrah, Arabic: رأس تنورة meaning "top/head of the barbecue spit") is a city in the Eastern Province of Saudi Arabia located on a peninsula extending into the Persian Gulf. Refinery and Abqaiq Plants, Aramco is integrating G2 with an existing refinery data model, Oil Systems PI, and other information management applications. They intend to use G2 to diagnose diagnose /di·ag·nose/ (di´ag-nos) to identify or recognize a disease. di·ag·nose v. 1. To distinguish or identify a disease by diagnosis. 2. process upsets and provide operators relief from alarm flooding during crisis situations. As part of an enterprise-wide plant upgrade, Saudi Aramco gas plant engineers in Uthmanyah and Shedgum plan to develop G2 applications that will help operators meet production objectives while optimizing fuel consumption. "We have standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. on a number of products for plant automation, and G2 is the expert system component of our solutions," said Sam Warren, lead project engineer with Saudi Aramco's project management team. "G2 allows plant engineers to implement intelligent systems based on their process expertise. Without knowing traditional programming, they can create applications that can distribute their knowledge and help process operators run the plant more effectively." Based in Cambridge, Mass., Gensym Corp. is a leading supplier of software products and services for developing and deploying intelligent systems. Solutions built with Gensym software address the complex, dynamic application problems found in industrial, scientific, commercial, and government organizations. Gensym has sold more than 7,000 product licenses to organizations in more than 40 countries worldwide. Founded in 1986, Gensym has 26 offices around the world. Visit Gensym on line at http://www.gensym.com . -0- This document contains certain 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. 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 1965. Such forward-looking statements are subject to risks and uncertainties, which could cause actuals 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 solutions vendors, timing and acceptance of new products, and general economic and industry conditions, as well as other risks detailed in the Company's Registration Statement on Form S-1 and periodic filings with the SEC. Gensym Corporation (company) Gensym Corporation - A company that supplies software and services for intelligent operations management. Common applications include quality management, process optimisation, dynamic scheduling, network management, energy and environmental management, and process assumes no obligation to update the information contained in this press release. CONTACT: Betsy Gartner Gensym Corp. 617-547-2500 eag@gensym.com |
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