Safety Report Supports AspenTech's Strategy for Polymer Advanced Control Solutions.Business Editors/High-Tech Writers CAMBRIDGE, Mass.--(BUSINESS WIRE)--April 22, 2004 Leading European task force report on safety critical systems highlights risks of applying neural networks in process control 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 its strategy for polymer advanced control solutions has been supported by the conclusions of a recent safety report. The report was published by a leading European task force, and highlights the risks of applying neural network software Neural network software is used to simulate, research, develop and apply artificial neural networks, biological neural networks and in some cases a wider array of adaptive systems. in manufacturing process control systems. The report identifies significant safety risks associated with using neural network process models to directly influence valve movements on chemical processes, and recommends that more appropriate technologies should be used. The task force was set up by EUNITE EUNITE European Network of Excellence on Intelligent Technologies for Smart Adaptive Systems (European Network of Excellence on Intelligent Technologies for Smart Adaptive Systems), a body created by the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community to share knowledge and promote best practices in the application of "intelligent" software technologies. The task force, which was made up of recognized European specialists in the field, had the objective of making recommendations about the use of "intelligent" systems in safety-critical applications. "In other safety-critical industries, such as automotive and medical, it has been possible to identify and address some of the risks associated with neural networks in control," said Professor Paulo Lisboa, Liverpool John Moores University Originally founded as a small mechanics institution (Liverpool Mechanics' School of Arts) in 1825, the institution grew over the centuries by converging and amalgamating with different colleges and eventually became the Liverpool Polytechnic. , who was Chair of the task force. "The task force report concludes that the similar safety risks associated with manufacturing process control systems need to be directly addressed with alternative technological approaches." The conclusions of the report support AspenTech's strategy for non-linear process control, which has been based on developing a different set of technologies rather than applying neural network-based systems. Non-linear controllers are required to address the complex process behavior found in the polymers industry, particularly during product transitions. "The conclusions of the report issued by EUNITE clearly support the decision made by AspenTech four years ago not to pursue a non-linear advanced control strategy based on neural networks," said Steve Pringle, Senior Vice President of AspenTech's Manufacturing/Supply Chain business unit. "The result of our decision was the development of the innovative technologies used in our polymer production control solution, which avoid the safety risks associated with neural networks in process control." 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 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. ), 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, GlaxoSmithKline, Shell, and Total. For more information, visit www.aspentech.com. Certain paragraphs 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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