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AspenTech Acquires Software Solutions from Refining Advantage Inc.

Burlington, Mass.Feb. 28, 2013Aspen Technology Inc., a provider of software and services to the process industries, acquired Pipeline Scheduling System (PSS) and Dock Scheduling System (DSS) software from Refining Advantage Inc.

“aspenONE Petroleum Supply Chain software maximizes profitability and drives improvements across the entire petroleum supply chain,” said Mark Fusco, President and Chief Executive Officer, AspenTech.

“PSS and DSS will provide additional capabilities to enable our customers to manage and schedule entire facilities, including docks and pipelines. This will result in more effective optimization of the petroleum supply chain.”

PSS is a pipeline scheduling tool that enables pipeline companies, refineries and terminals with pipelines to optimize their pipeline schedules and improve profitability and safety. DSS is used by refineries and terminals to schedule their docks, enabling them to save on demurrage costs that are incurred due to delays in on-loading or off-loading cargo.

AspenTech’s existing Petroleum Supply Chain products include Aspen PIMS, a petroleum and petrochemical planning system and Aspen Petroleum Scheduler, which enables fast, accurate and collaborative creation of refinery schedules. Adding PSS & DSS, which are already used by some leading refineries, will enable AspenTech customers to further optimize their petroleum supply chains.

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