Printer Friendly

Petro-Canada Streamlines Fuel Distribution with Aspen Technology's e-Business Supply Chain Solution.

Canadian company first to employ AspenTech's Web-enabled "Multi-Drop"

capability to optimize multiple daily deliveries

CAMBRIDGE, Mass., May 15 /PRNewswire/ --

Aspen Technology, Inc. (Nasdaq: AZPN), today announced that Petro-Canada will deploy the Aspen Retail(TM) e-business supply chain solution to manage the delivery of fuel to its retail and wholesale customers across Canada. The main benefits include better inventory management along the downstream supply chain, lowered distribution costs, and increased customer service.

"Aspen Technology is the only company that offered us a complete solution to unify and optimize our complex distribution network. Aspen Retail will allow us to accurately forecast customer demand, increase utilization of transportation assets, increase motor-fuel profitability, and meet the highest standards of our customers," says Ken Dymock, Manager of Customer Order Fulfillment, for Petro-Canada. "By completely integrating and optimizing our terminal rack to customer supply chain, we anticipate significant improvements in our overall operational performance. We chose AspenTech over several other companies because of their strong understanding of our business and the strength of their solution."

Aspen Retail enables petroleum companies to create an automated, real-time system that optimizes the distribution of fuel from terminal to end-customer. With the Retail solution, Petro-Canada customers will have real-time access to demand forecasts, replenishment plans and delivery schedules, through a web- enabled interface.

As part of the solution, Petro-Canada will utilize the powerful "Multi- drop Optimizer" application. This newest component of the Aspen Retail suite will allow Petro-Canada's diverse commercial agents to perform complex shortest-path scheduling optimization to generate the most efficient delivery routes for multiple daily deliveries of heating oil and other products to homes and businesses across Canada.

"AspenTech's expertise in the process industries and the ease of use of our solutions over the Internet enable us to provide differentiated supply chain solutions that will help Petro-Canada to streamline its downstream petroleum supply chain," said Larry Evans, Chairman and CEO of AspenTech. "By leveraging the Internet to drive costs out of the enterprise-wide supply chain and to achieve greater visibility, Petro-Canada will be able to make more effective transportation decisions and drive value to its bottom-line."

The Aspen Retail solution is currently used by six of North America's seven largest oil companies to manage over 38 billion gallons of fuel each year. Aspen Retail is a key component of AspenTech's unique, integrated value chain solution for the petroleum industry.

About Petro-Canada

Petro-Canada is one of Canada's largest oil and gas companies, operating in both the upstream and downstream sectors of the industry. Its common and variable voting shares trade on the Toronto Stock Exchange under the symbol PCA, and its variable voting shares trade on the New York Stock Exchange under the symbol PCZ.

About AspenTech

Aspen Technology, Inc. is the leading supplier of integrated software and solutions that enable process manufacturers to automate and optimize their plants and extended supply chains, while enabling e-business. With deep process knowledge, best-in-class technology, and strategic alliances with leading business and technology partners, AspenTech offers the industry's broadest family of scaleable solutions, allowing our customers to be successful in the Internet economy. AspenTech's Plantelligence(TM) solutions automate and optimize critical business processes at the plant level. AspenTech's Enterprise Optimization(TM) solutions extend the scope of optimization across the enterprise and extended supply chain. AspenTech eSupply Chain solutions enable manufacturers to link seamlessly to customers, suppliers and on-line trading exchanges, creating a collaborative, flexible extended enterprise. AspenTech employs more than 1,800 people worldwide. For more information, visit

Certain paragraphs of this press release contain forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act 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 the cyclical chemicals, petrochemicals and petroleum industries; AspenTech's need to hire additional qualified personnel and its dependence on key current employees; intense competition; AspenTech's dependence on systems integrators and other strategic partners; 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, Aspen Retail, Plantelligence, Enterprise Optimization, Aspen eSupply Chain Suite, and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.


For Media:

Peter Watt Carin Warner

Aspen Technology, Inc. Warner Communications

011 44 1223 819752 (978) 526-1960

For Investors:

Joshua Young

Aspen Technology, Inc.

(617) 949-1274

COPYRIGHT 2001 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Geographic Code:1CANA
Date:May 15, 2001
Previous Article:Bayer AG Accepts Additional High-Throughput Assays From Paradigm Genetics.
Next Article:Activision Beams Reinforcements Into Retail With the Release Of Star Trek: Voyager(R) Elite Force(TM) Expansion Pack.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters