Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

ASPEN TECHNOLOGY

(AZPN)
  Report
Delayed Nasdaq  -  04:00 2022-09-23 pm EDT
222.15 USD   -0.52%
09/23AspenTech Named a Leader in Asset Performance Management by Independent Analyst Firm
AQ
09/19Piper Sandler Adjusts Price Target on Aspen Technology to $240 From $189, Maintains Neutral Rating
MT
09/09INSIDER SELL : Aspen Technology
MT
SummaryQuotesChartsNewsCompanyFinancialsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

JG Summit Olefins Corporation Selects Aspen Technology to Advance Operational Excellence

08/16/2022 | 11:28am EDT

Largest Publicly Held Petrochemicals Company in the Philippines Unlocks Untapped Value in Production Optimization with AspenTech Solutions

BEDFORD, Mass. - - Aspen Technology, Inc. (NASDAQ: AZPN), a global leader in industrial software, today announced that the largest petrochemicals company in the Philippines, JG Summit Olefins Corporation (JGSOC), is advancing its journey toward operational excellence by unlocking untapped value in production optimization. This planned deployment with Aspen Unified PIMS(TM) supports the company's innovation-driven vision and is projected to boost operating margin by optimizing feedstock selection at the crackers. The JGSOC expansion project is a step toward further diversification of the local petrochemical and chemical industries and is envisioned to strengthen the industrial value chain linkages for the manufacturing sector.

Samuel Co Chan, Vice-President for Supply Trading and Product Optimization, JG Summit Olefins Group, said: "AspenTech's distinct and transparent solutions align with JGSOC's pursuit of operational excellence by deploying the best and most efficient technologies. As the leading, value-driven, and highly innovative software, Aspen Unified PIMS can enable production optimization with greater intuition, accuracy, and accessibility. JGSOC is deriving current benefits in plant efficiency and productivity with Aspen Plus® and Aspen DMCplus® solutions."

Lawrence Ng, Vice President of Sales, Asia Pacific & Japan, Aspen Technology, added: "AspenTech is pleased to deepen our partnership with JG Summit Olefins Group through the company's latest adoption of Aspen Unified PIMS software. In advancing toward the Self-Optimizing Plant, this planned deployment empowers JGSOC with a scalable technology solution amidst industry skills shortage."

About JG Summit Petrochemicals Group

JG Summit Olefins Corporation (JGSOC) is the country's largest petrochemical company in the Philippines. Since its establishment in 1998, it has been a pioneer in the local petrochemical industry through its wholly owned and fully integrated petrochemical complex located in Batangas City, south of Metro Manila. Its products include polyethylene and polypropylene resins, olefins, butadiene and aromatics products, used both by domestic and international manufacturers. Since January 1, 2022, the two subsidiaries under the JG Summit Petrochemicals Group - JG Summit Petrochemical Corporation and JG Summit Olefins Corporation - have merged, with the latter as the surviving entity, and with all business operations now under JGSOC. JGSOC is 100% owned by JG Summit Holdings, Inc. Visit https://jgspetrochem.com/ to find out more.

About Aspen Technology

Aspen Technology, Inc. (NASDAQ: AZPN) is a global software leader helping industries at the forefront of the world's dual challenge meet the increasing demand for resources from a rapidly growing population in a profitable and sustainable manner. AspenTech solutions address complex environments where it is critical to optimize the asset design, operation and maintenance lifecycle. Through our unique combination of deep domain expertise and innovation, customers in capital-intensive industries can run their assets safer, greener, longer and faster to improve their operational excellence. To learn more, visit AspenTech.com.

###

© 2022 Aspen Technology, Inc. AspenTech, aspenONE, the Aspen leaf logo, Aspen, Aspen Unified PIMS, Aspen Plus and Aspen DMCplus are trademarks of Aspen Technology, Inc. All rights reserved.

.

(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
ASPEN TECHNOLOGY -0.52% 222.15 Delayed Quote.45.96%
JG SUMMIT HOLDINGS, INC. -2.47% 47.3 End-of-day quote.-10.75%
All news about ASPEN TECHNOLOGY
09/23AspenTech Named a Leader in Asset Performance Management by Independent Analyst Firm
AQ
09/19Piper Sandler Adjusts Price Target on Aspen Technology to $240 From $189, Maintains Neu..
MT
09/09INSIDER SELL : Aspen Technology
MT
09/06INSIDER SELL : Aspen Technology
MT
09/01ACME Group Selects Aspen Technology to Drive Operational Excellence at its First Green ..
AQ
08/31ASPEN TECHNOLOGY, INC. : Change in Directors or Principal Officers, Financial Statements a..
AQ
08/31Aspen Technology to Provide Performance Engineering Software for ACME Group's India Pil..
MT
08/25ASPEN TECHNOLOGY, INC. - 10-KT - Management's Discussion and Analysis of Financial Cond..
AQ
08/22Emerson's Majority Owned Subsidiary, AspenTech, Announces Agreement to Acquire Metals a..
AQ
08/17Wolfe Research Initiates Coverage on Aspen Technology With Peer Perform Rating
MT
More news
Analyst Recommendations on ASPEN TECHNOLOGY
More recommendations
Financials ()
Sales 2021 709 M - -
Net income 2021 320 M - -
Net cash 2021 50,2 M - -
P/E ratio 2021 29,5x
Yield 2021 -
Capitalization 11 077 M 11 077 M -
EV / Sales 2020 12,0x
EV / Sales 2021 13,1x
Nbr of Employees 1 897
Free-Float -
Chart ASPEN TECHNOLOGY
Duration : Period :
Aspen Technology Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ASPEN TECHNOLOGY
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Managers and Directors
Antonio Jose Pietri President & Chief Executive Officer
Chantelle Yvette Breithaupt Chief Financial Officer, Director & Senior VP
Willie K. Chan Chief Technology Officer
Frederic George Hammond Director, Secretary, Senior VP & General Counsel
Christopher Stagno Director, Chief Accounting Officer & Senior VP