Chemical Engineering Application » Product News http://www.chemapp.com Chemical Industry and Software News Wed, 17 Mar 2010 10:35:40 +0000 en hourly 1 What’s next for Reliance? http://www.chemapp.com/whats-next-for-reliance.html http://www.chemapp.com/whats-next-for-reliance.html#comments Wed, 10 Mar 2010 14:06:20 +0000 admin http://www.chemapp.com/?p=32

By Malini Hariharan

Reliance Industries appears to have hit the end of the road in its quest for LyondellBasell which has filed its own restructuring plan, rejecting a $14.5bn Reliance offer.

LyondellBasell has said the Reliance offer was not “sufficiently valuable to abandon” its amended reorganisation plan.

“The proposal…did not assure a higher overall value for LyondellBasell than that upon which the [reorganisation] plan is based; it continued to provide Reliance with effective control over LyondellBasell, even if it owned only minority position and did not pay a premium,” LyondellBasell said in its court filing.

“It [Reliance] did not put any Reliance assets at risk should a transaction be pursued and fail,” LyondellBasell added.

It is not surprising to read that Reliance has distanced its Indian assets. The Basell and Lyondell merger has clearly revealed the risks of failing to do so.

LyondellBasell is now waiting for the court to approve its plan and hopes to emerge from bankruptcy by the end of the year.

Media reports say that Reliance will not be increasing its offer although the company has yet to confirm this.

But analysts, who think anything over $14.5bn would be too expensive, have already started suggesting that it is time for Reliance to look at other acquisitions.

One analyst suggests that Dow Chemical’s commodity chemical assets would be a better fit. Dow had attempted to spin off into a joint venture with Kuwait’s Petrochemical Industries Co (PIC) but the deal was called off at the last minute.

The analyst suggests that Reliance could look at a similar joint venture or even an outright purchase and this would be cheaper than LyondellBasell as Dow has indicated that it is looking for $8-12bn while LyondellBasell is unlikely to come to the negotiating table for anything less than $16bn.

But Reliance had tried for Dow’s assets and lost out to PIC. Dow recently confirmed that it is in talks with three companies for a divestment. And industry sources say that a deal with PIC could still be possible.

http://www.icis.com/blogs/asian-chemical-connections/2010/03/whats-next-for-reliance.html

]]> http://www.chemapp.com/whats-next-for-reliance.html/feed 0 Technology can help bridge the skills shortage in the chemical and process industries http://www.chemapp.com/technology-can-help-bridge-the-skills-shortage-in-the-chemical-and-process-industries.html http://www.chemapp.com/technology-can-help-bridge-the-skills-shortage-in-the-chemical-and-process-industries.html#comments Wed, 10 Mar 2010 12:51:51 +0000 admin http://www.chemapp.com/12.html

03 February 2010 00:00 [Source: ICB]

In finding a solution to the skills shortage problem, see how technology can help companies in the chemical and other process industries

Consultant’s corner
John Taylor/AspenTech

REX FEATURES

ACROSS THE Western world in particular, process engineering companies have typically benefited from being able to access experienced talent in the form of operators, control/process engineers and general IT staff. Today, we are seeing the effects of a demographic time bomb. Thousands of engineers are on the verge of retirement and there is a shortage of staff with sufficient skills to replace these employees.

With pressure from the market and companies looking at rationalizing assets, this situation is likely to worsen – at least in the short term. Heightening the problem further is the fact that a prolonged recession is likely to accelerate the current trend among engineers to take early retirement.

The problem is particularly acute across the oil, gas and chemical sectors. According to international trade body the Society of Petroleum Engineers, the average age of a petroleum worker is 51. Nearly 60% are 45 or older. This represents a peak in the profile of existing workers and suggests that approximately 40% of the workforce will be lost over the next decade.

In many cases, pioneering veterans of the oil and gas industry with 20 years’ experience and extensive knowledge of industry strategies and tricks of the trade are now facing retirement. These skills are often not being replaced. And these engineers are often substituted by lower-cost people with less experience.

It is not unusual today across the process industries for organizations to have up to one-third of their workforce with less than three years’ experience. And many of these workers will not have the same technical grounding as their predecessors.

According to UK-based technology and consulting services firm Shell Global Solutions, US colleges produced fewer than 200,000 technically based graduates to replace the 2m experienced professionals who retired between 1998 and 2008.

And similar problems exist across the EMEA (Europe, Middle East and Asia) region, where students are increasingly choosing to pursue business-focused, rather than technology-focused, degrees and careers.

HOW TECH CAN DRIVE A SOLUTION
Companies across the sector are already suffering from the effects of these problems. The prospect of such a far-reaching loss of industry knowledge requires urgent action.

Organizations need to wrestle with the problem of how to capture and retain organizational knowledge and pass it on effectively to the incoming generation with its completely different approach to absorbing information.

The business model will need to change if process engineering is to fulfill its potential to drive cost efficiencies in the oil and gas and chemical sectors. After all, the days where a veteran travels the world and takes total end-to-end ownership of a project can no longer deliver the requisite fast return on investment.

Technology needs to play catch-up and veteran expertise needs to be complemented with easier-to-use tools and processes, better integration of product sets, globalization of solutions and, most importantly, effective knowledge capture and transfer.

Organizations need solutions that can capture all of the salient points about a facility in one place and at the same time, and by doing so, help to drive their workflow efficiencies, improve their productivity levels and enhance their predictive capabilities.

The challenge for software vendors in the space is to work with customers to find ways that technology can be used to build efficiencies in the processes undertaken by engineers and make the programs intuitive so that less skilled operators can use them.

Simplicity is the key. Although there are many technical challenges ahead across sectors and new processes are demanding greater capabilities, there is a push to make software simpler to use, implement and support.

Continuity is equally important. When carrying out a new study of an existing process, engineers often ask: “Do we have a previous model for this?” They are above all looking for software tools that will enable them to quickly and easily optimize the efficient operation of the process in question.

A NEW MODEL
If inexperienced engineers have to sift through a vast quantity of documentation from a broad range of unconnected sources, they will inevitably find the whole process frustrating. It will also be almost impossible to verify the accuracy and the reliability of the source and avoid interpretation errors.

Instead, they need to seek out process optimization solutions that enable them to obtain a much more structured information set. In this way, they can be reassured to know that a process of sorting and classifying has already taken place, making it much easier to find information and giving the user confidence that his understanding of the data is consistent with that of the person who originally put it into the system.

The great benefit of such an approach is that the only prior knowledge users require is an understanding of how to use the software itself. In other words, it represents an effective means of optimizing knowledge transfer from one generation of engineers to the next.

The fact that the current so-called YouTube generation is more attuned to absorbing information electronically than their predecessors makes it a particularly relevant approach.

TRAINING, CONSULTANCY, SUPPORT
That said, engineering companies will obviously need to tap into some training and consultancy support from their chosen solutions vendor, especially if they have a particularly young and inexperienced workforce.

For AspenTech, this has been one of the key drivers behind the development of our simplified “expert-in-a-box” training sessions and 90-minute “lunch and learn” sessions.

Typically, of course, technical solutions, training and consultancy will also need to be supplemented by internal initiatives such as mentoring, succession planning and communication sessions to ensure that the hand-over process runs as smoothly as possible.

LOOKING TO THE FUTURE
Today’s process engineering landscape is changing rapidly, particularly across the oil, gas and petrochemical sectors.

With many organizations no longer able to draw on the skills and expertise of highly experienced operators, automated knowledge transfer solutions that effectively close the skills gap and deliver a powerful combination of rich functionality and ease of use are likely to become ever more popular.

And the ability of vendors to support this approach with high-quality training and consultancy makes this kind of integrated solutions package even more compelling to hard-pressed engineering companies as they battle with the ongoing skills shortage problem.

Quote: Veterans with extensive knowledge and tricks of the trade are now facing retirement

John Taylor is vice president, EMEA, business consulting and sales operations at AspenTech. Previously, he spent 10 years at i2 Technologies, in a variety of senior management roles.

Author: John Taylor

]]> http://www.chemapp.com/technology-can-help-bridge-the-skills-shortage-in-the-chemical-and-process-industries.html/feed 0 AspenTech to Sponsor and Speak at CERAWeek 2010 Executive Summit and Conference http://www.chemapp.com/aspentech-to-sponsor-and-speak-at-ceraweek-2010-executive-summit-and-conference.html http://www.chemapp.com/aspentech-to-sponsor-and-speak-at-ceraweek-2010-executive-summit-and-conference.html#comments Wed, 10 Mar 2010 12:24:08 +0000 admin http://www.chemapp.com/?p=5

BURLINGTON, Mass — March 08, 2010— Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to the process industries, today announced it will sponsor and participate in CERAWeek 2010 – the premier global energy industry conference – March 8-12 in Houston. AspenTech is sponsoring the CERAWeek Global Oil Summit, and AspenTech Executive Vice President Antonio Pietri is one of the industry experts speaking at CERAWeek.

  • For the third consecutive year, AspenTech will be one of three exclusive sponsors of the CERAWeek Global Oil Summit, along with IBM and PriceWaterhouseCoopers. The invitation-only senior executive event will be held on Monday, March 8.
  • On Tuesday, March 9, the kickoff “Oil Day” of CERAWeek, AspenTech’s Pietri will participate with executives from ConocoPhillips, Chevron and IHS CERA on a panel examining “Implications of Green House Gas Reporting for the Oil Industry.”
  • Nearly 2,200 energy and power executives, policymakers and financial and technology leaders from more than 55 countries will meet at CERAWeek to discuss topics such as energy demand, climate change policies, energy markets and strategies, as well as the impact of new technologies in the economic recovery.
  • Speakers during the CERAWeek Executive Summit and Conference include senior executives from the largest energy companies in the world, as well as industry and government leaders from the Brookings Institution; the International Energy Agency, the US Department of Economic, Energy, and Agricultural Affairs, and the MIT Sloan School of Management.
  • AspenTech’s aspenONE process optimization software is used by the world’s largest energy companies. From implementing leading energy management practices to addressing the impact of carbon emissions, AspenTech customers are better-equipped to improve decision making and drive down costs across process manufacturing operations.

Supporting Quote:
Antonio Pietri, Executive Vice President, Field Operations, AspenTech “As energy companies continue to operate in uncertain times, those that have optimized their operations are best prepared to capture opportunity in the days ahead. AspenTech’s customers are industry leaders who employ these best practices and many of them come to CERAWeek to share their insights. We are proud to continue our support of the CERAWeek Executive Summit and Conference, and look forward to helping drive discussion about how the industry can create new opportunities to drive economic growth.”

Supporting Resources:
Links to more information:

About AspenTech
AspenTech is a leading supplier of software that optimizes process manufacturing – for energy, chemicals, pharmaceuticals, engineering and construction, and other industries that manufacture and produce products from a chemical process. With integrated aspenONE solutions, process manufacturers can implement best practices for optimizing their engineering,manufacturing and supply chain operations. As a result, AspenTech customers are better able to increase capacity, improve margins, reduce costs and become more energy efficient. To see how the world’s leading process manufacturers relyon AspenTech to achieve their operational excellence goals, visit www.aspentech.com.

]]> http://www.chemapp.com/aspentech-to-sponsor-and-speak-at-ceraweek-2010-executive-summit-and-conference.html/feed 0 Invensys Operations Management Expands Partner Ecosystem http://www.chemapp.com/invensys-operations-management-expands-partner-ecosystem.html http://www.chemapp.com/invensys-operations-management-expands-partner-ecosystem.html#comments Thu, 04 Mar 2010 13:07:53 +0000 admin http://www.chemapp.com/16.html

Newly endorsed system integrators recognized for commitment

MARCH 04, 2010/PLANO, TEXAS - Invensys Operations Management, a global provider of technology systems, software solutions and consulting services to the process and manufacturing industries, today announced the addition of two endorsed Wonderware systems integrators (SIs) to its Partner Ecosystem Program. The SIs were selected based on their demonstrated commitment to superior solutions and service for Wonderware customers, as well as for building a strong business practice around delivering solutions built on Wonderware® software.
 
The new endorsed partners are Avanceon LP, located in Exton, Penn., and Tegron LLC, an operating unit of Glenmount Global Solutions, located in Irving, Texas.
 
“The Invensys Operations Management partner ecosystem is an active, collaborative community focused on developing innovative, real-time production, automation and information solutions for the process and discrete manufacturing, transportation, energy and facility management industries,” said Matt Bauer, vice president, ecosystem for Invensys Operations Management. “Endorsed partners can leverage the history, knowledge and expertise of the entire Invensys community, including technology sharing, sales support, marketing and business development. They play a key role in our long-term growth strategy.”
 
The selected SIs have undergone a detailed business process assessment and have been certified for several years on their proven expertise in implementing Wonderware technology at customer facilities. Evaluations include a validated track record of customer satisfaction with solutions demonstrated to increase customer efficiency, reduce costs and/or maximize customer profits.
 
“We are proud to be selected as one of Invensys Operations Management’s endorsed systems integrators, which follows our certification and adoption of the Wonderware Operations software for MES and ArchestrA® technology for our customers,” said Steve Voelzke, president, Glenmount Global Solutions, Inc. “Our culture of customer success, technological innovation and standardization across the industries we serve closely mirrors Invensys Operations Management’s open approach. We will continue to help Invensys deliver innovative solutions to the market, and the recognition of our award-winning Power Management Intelligence Dashboard at the company’s recent OpsManage’09 client event demonstrates that commitment.”
]]> http://www.chemapp.com/invensys-operations-management-expands-partner-ecosystem.html/feed 0 AspenTech Signs New Commercial Agents in Kuwait and Abu Dhabi http://www.chemapp.com/aspentech-signs-new-commercial-agents-in-kuwait-and-abu-dhabi.html http://www.chemapp.com/aspentech-signs-new-commercial-agents-in-kuwait-and-abu-dhabi.html#comments Wed, 03 Mar 2010 13:53:17 +0000 admin http://www.chemapp.com/?p=27 Arabesque Group and Independent Technical Services (ITS) Further Expand AspenTech Presence in the Middle East

BURLINGTON, Mass — March 03, 2010— Aspen Technology, Inc. (NASDAQ: AZPN), a leading provider of software and services to the process industries, today announced the signing of new commercial agents in the Middle East – Arabesque Group, in Kuwait, and Independent Technical Services (ITS), in Abu Dhabi. The new agents further expand AspenTech’s Middle East presence, following the recent opening of a regional direct sales office in Manama, Bahrain.

  • Led by Ahmed Al-Atheri, Arabesque Group has 17 years of experience serving the process industries in Kuwait, including selling aspenONE process optimization tools.
  • Led by Saad Bunni, ITS has 15 years of experience serving the oil, gas and utility industries in the United Arab Emirates, including owner-operators and engineering and construction companies.
  • AspenTech’s expanded presence in the Middle East builds on a long history of working with the world’s biggest energy and chemical producers. AspenTech customers in the region include Saudi Aramco, SABIC, Abu Dhabi National Oil Company (Adnoc), Abu Dhabi Gas Industries (GASCO), Qatar Gas, and Kuwait National Petroleum Company (KNPC).

Supporting Quote:
Antonio Pietri, Executive Vice President, Field Operations, AspenTech
“For more than a decade, AspenTech solutions have been used by Middle East customers representing some of the largest energy producers in the world. We are growing our Middle East presence as investment continues to be made by process manufacturers across our core industries in energy, chemicals and petrochemicals. We will continue to build up our supporting infrastructure to make it easier for more companies in the region to use the industry’s leading solutions for process optimization.”

]]> http://www.chemapp.com/aspentech-signs-new-commercial-agents-in-kuwait-and-abu-dhabi.html/feed 0 Wonderware Mobile Solution from Invensys Awarded Motorola Enterprise Mobility Validation http://www.chemapp.com/wonderware-mobile-solution-from-invensys-awarded-motorola-enterprise-mobility-validation.html http://www.chemapp.com/wonderware-mobile-solution-from-invensys-awarded-motorola-enterprise-mobility-validation.html#comments Tue, 02 Mar 2010 13:15:59 +0000 admin http://www.chemapp.com/19.html


MARCH 02, 2010/PLANO, TX –  Invensys Operations Management, a global provider of technology systems and software solutions to process and manufacturing industries, today announced that its Wonderware IntelaTrac™ mobile solution has achieved Enterprise Mobility validation through Motorola’s Enterprise Mobility Validated Solution Program. The IntelaTrac solution is a mobile workforce and decision support system. Featuring configurable software and ruggedized mobile hardware, it enables better workflow, procedural and general task management focused on plant operations, maintenance management, production tracking and compliance applications.
 
The mobile component of the IntelaTrac application can operate with a wide variety of hardware from Motorola, which is available through the Wonderware brand as a part of a customer’s purchase of the system. These products include the MC55 and MC70 Enterprise Digital Assistants (EDA) and MC9090 family of mobile computers.
 
“Being awarded the Motorola Enterprise Mobility Validation is a significant achievement because it assures Invensys customers and partners of system interoperability between Motorola devices and our IntelaTrac applications,” said Jim Frider, mobile solutions marketing manager, Invensys Operations Management. “This will lead to faster solution deployment, lower cost of ownership and higher end-user satisfaction. There’s no doubt that our success has been greatly accelerated due to our relationship with Motorola, which has helped us deliver the mobility solutions our customers are demanding.”
 
Motorola’s Enterprise Mobility Validated Solutions Program enables partners to test and validate their mobility solutions on Motorola products to help ensure interoperability and meet the application-specific needs of customers, as well as reduce risk and time to deployment. Invensys Operations Management successfully achieved Enterprise Mobility validation by completing Motorola’s Enterprise Mobility Validated Solution Program, including joint testing at the Motorola Solution Center located in Holtsville, New York. The IntelaTrac solution is now permitted to use the Motorola Enterprise Mobility Validated™ Software logo, designation which will help assure customers and partners of system interoperability between Motorola devices and IntelaTrac applications.
]]> http://www.chemapp.com/wonderware-mobile-solution-from-invensys-awarded-motorola-enterprise-mobility-validation.html/feed 0 Invensys to Implement IntelaTrac Mobile Solutions for Chevron Upstream Operations http://www.chemapp.com/invensys-to-implement-intelatrac-mobile-solutions-for-chevron-upstream-operations.html http://www.chemapp.com/invensys-to-implement-intelatrac-mobile-solutions-for-chevron-upstream-operations.html#comments Thu, 25 Feb 2010 13:17:11 +0000 admin http://www.chemapp.com/21.html

IntelaTrac Solution to provide mobile workers with enhanced decision-making capabilities


FEBRUARY 25, 2010/PLANO, TEXAS – Invensys Operations Management, a global provider of technology systems, software solutions and consulting services to the process and manufacturing industries, today announced that it has contracted  with Chevron to provide the Wonderware IntelaTrac™ mobile workforce and decision-support system. The mobile solution will support Chevron’s upstream operations with  configurable software and ruggedized mobile hardware solutions that enable workers to better manage workflow, procedural and general management tasks which focus on plant, production and field operations, maintenance management, production, inventory and logistics tracking and compliance applications.
 
Invensys will provide the IntelaTrac solution to assist operators, field engineers, technicians and supervisors in creating inspection and regulatory procedures. It also will assign, schedule and execute rounds and report findings that are prioritized based on the level of severity of the issue. IntelaTrac provides the capabilities for an organization to create and define procedures based on best practices, as well as regulatory compliance rules and regulations. Procedures are re-usable across many operator and technician rounds to ensure that inspections are performed on a routine basis as mandated by overall corporate policies, as well as regulatory agencies.
 
“Chevron wants a mobile platform capable of supporting many business work processes and an ‘out of the box’ solution,” said Eric Moorehead, Invensys Operations Management North America Client Care executive program leader. “Our IntelaTrac solution has been used by Chevron in its downstream business process for several years. By extending the availability of IntelaTrac, Chevron anticipates being able to support many new business processes using a single mobile platform for operations, maintenance, reliability tracking, production data collection and safety inspections across the enterprise.”
 
Chevron has been using Invensys solutions since the early 1990s for its downstream operations to standardize refinery process steps and deliver decision support to field workers. Invensys solutions currently deployed at Chevron include Triconex® safety systems, Wonderware IntelaTrac, Wonderware InTouch® human-machine interface, Wonderware® System Platform, Wonderware Historian and Wonderware ActiveFactory™, a trending, analysis and reporting application.
]]> http://www.chemapp.com/invensys-to-implement-intelatrac-mobile-solutions-for-chevron-upstream-operations.html/feed 0 Aspen Technology Announces Financial Results for the Second Quarter Fiscal Year 2010 http://www.chemapp.com/aspen-technology-announces-financial-results-for-the-second-quarter-fiscal-year-2010.html http://www.chemapp.com/aspen-technology-announces-financial-results-for-the-second-quarter-fiscal-year-2010.html#comments Tue, 09 Feb 2010 13:53:57 +0000 admin http://www.chemapp.com/?p=29 Company Approved to Relist on NASDAQ Stock Market

BURLINGTON, Mass — February 09, 2010— Aspen Technology, Inc. (NASDAQ: AZPN, as of February 10, 2010) a leading provider of software and services to the process industries, today announced its financial results for its second quarter of fiscal 2010, ended December 31, 2009.

Mark Fusco, Chief Executive Officer of AspenTech, said, “We are pleased with the company’s performance in the second quarter, as solid transaction flow drove product-related bookings of approximately $95 million. Within product related bookings, the license portion was consistent with the year ago period. Early customer response to our new aspenONE licensing model has been very favorable, which is driving both renewal activity and expanded usage with customers across each of our target markets. As we look to the second half of our fiscal year, customer interest levels remain high and we are encouraged by the positive impact of our new aspenONE licensing model on both our competitive position and long-term market opportunity.”

Fusco added, “After bringing our financial statements current with the filing of our first quarter results and subsequently filing our second quarter results in a timely manner, we have been approved to relist the company‘s common stock on the NASDAQ stock market effective tomorrow morning under the ticker ‘AZPN’. We are excited to complete this process so that investors can focus exclusively on AspenTech’s business performance, strong competitive position and market opportunity.”

AspenTech’s total revenue of $42.7 million decreased from $82.6 million in the second quarter of the prior year, due primarily to the ratable revenue recognition associated with the company’s new aspenONE licensing model.

  • Subscription revenue includes all revenue associated with the company’s new aspenONE licensing model. Subscription revenue was approximately $1.2 million in the second quarter of fiscal 2010. No subscription revenue was recorded in the year ago period as the company’s new aspenONE licensing model was launched during the first quarter of fiscal 2010. Subscription revenue is recognized over the course of the multiyear agreement, and recognition begins when the first payment is due, which is typically 30 days after the contract is signed.
  • Software revenue includes all non-subscription-based license revenue, including term-based contracts for point products as well as perpetual licenses. Software revenue was $9.0 million in the second quarter of fiscal 2010, compared to $47.3 million in the year ago period. In fiscal year 2010, software revenue related to term contracts is recognized over the contract term, generally as payments become due. In prior fiscal year periods, the company predominantly recognized term license revenue on an up-front basis, and what was previously categorized as license revenue typically equaled license bookings. However, in the second quarter of fiscal year 2009, license revenue was approximately $17 million lower than license bookings as a result of certain license bookings not meeting the criteria for up-front revenue recognition.
  • Services & other revenue, which includes professional services, maintenance and other revenue, was $32.5 million in the second quarter of fiscal 2010, a decrease compared to $35.4 million in the year ago period. The year-over-year decline was primarily a result of the more challenging economic environment compared to the year ago period. Services and other revenue was up sequentially compared to $28.7 million in the first quarter of fiscal 2010.

For the quarter ended December 31, 2009, AspenTech reported a loss from operations of $29.3 million due primarily to the ratable revenue recognition associated with the company’s new aspenONE licensing model. For the quarter ended December 31, 2008, the company reported income from operations of $18.8 million. Net loss was $30.7 million in the second quarter of fiscal 2010, leading to net loss per basic and diluted share of $0.34 compared to net income per diluted share of $0.25 in the same period last year.

AspenTech had a cash balance of $109.4 million at December 31, 2009, compared to $109.0 million at the end of the first quarter of fiscal 2010. The company did not sell any installments receivable to raise cash during the second quarter of fiscal 2010 and it continued to reduce its secured borrowings balance, which was $96.5 million at the end of the quarter, down $12.3 million compared to $108.8 million at the end of the first quarter of fiscal 2010.

Other Second Quarter Business Metrics

- The company closed 18 product-related bookings of over $1 million during the second quarter, and 57 product related bookings between $250,000 and $1 million.

- Average deal size for product-related bookings over $100,000 was $778,000 in the second quarter.

Conference Call and Webcast

AspenTech will host a conference call and webcast today, February 9, at 5:00 p.m. (Eastern Time), to discuss the company’s financial results for the first quarter of fiscal 2010. The live dial-in number is (877) 245-0126, conference ID code 53424224. Interested parties may also listen to a live webcast of the call by logging on to the Investor Relations section of AspenTech’s website, http://www.aspentech.com/corporate/investor.cfm, and clicking on the “webcast” link. A replay of the call will be archived on AspenTech’s website and will also be available via telephone at (800) 642-1687 or (706) 645-9291, conference ID code 53424224 through February 16, 2010.

]]> http://www.chemapp.com/aspen-technology-announces-financial-results-for-the-second-quarter-fiscal-year-2010.html/feed 0 Chemstations Named to Inc. 5000 Fastest-Growing Private Companies List for the Second Consecutive Year http://www.chemapp.com/chemstations-named-to-inc-5000-fastest-growing-private-companies-list-for-the-second-consecutive-year.html http://www.chemapp.com/chemstations-named-to-inc-5000-fastest-growing-private-companies-list-for-the-second-consecutive-year.html#comments Thu, 13 Aug 2009 13:22:52 +0000 admin http://www.chemapp.com/?p=24 Worldwide process simulation software leader jumps 1,322 places ahead from prior year

HOUSTON, Texas, August 13, 2009 – Chemstations Inc., a worldwide leader in process simulation software supplying the process industries and associated fields with its CHEMCAD suite of integrated technologies, has been named by Inc. magazine as one of America’s fastest-growing private companies for the second consecutive year.

From a 2008 ranking of 4,268, Chemstations moved up 1,322 places to 2,946 this year with three-year sales growth of 94.6 percent.

“Chemstations is honored to again be named to the Inc. 5000 list. We’ve continued to grow even in the current economy by offering exemplary support and product development to meet the unique simulation software needs of our process engineering customers,” said Chemstations President and CEO Nathan Massey.

“Being ranked on the Inc. 5000 for the second year in a row is the direct result of our employees’ hard work, dedication and innovation on behalf of our clients,” added Chemstations Executive Vice President and COO Steve Brown.

The 2009 Inc. 5000 list measures revenue growth from 2005 through 2008. To qualify, companies have to be U.S.-based and privately held, independent – not subsidiaries or division of other companies – as of December 31, 2008, and have had at least $200,000 in revenue in 2005, and $2 million in 2008. Chemstations reported 2005 revenue of $3.1 million and 2008 revenue of $6.1 million. The 2009 Inc. 5000 reported this year’s list of entrepreneurial-minded companies had combined revenue of $214 billion and three-year growth of 126 percent and together generated 1 million jobs since startup.

]]> http://www.chemapp.com/chemstations-named-to-inc-5000-fastest-growing-private-companies-list-for-the-second-consecutive-year.html/feed 0