Re Contract
October 25 2007 - 3:01AM
UK Regulatory
RNS Number:3231G
KBC Advanced Technologies plc
25 October 2007
Embargoed until 7.00am 25 October 2007
KBC Advanced Technologies plc
("KBC")
Contract Award
KBC, a leading independent consultant to the oil industry, is pleased to
announce a significant new US$2.77 million software contract with Valero Energy
Corporation ("Valero") for an enterprise-wide licence for the KBC SIM(TM) Suite
software at all sixteen of its North American refining sites and the corporate
headquarters.
Valero has been a licensee of FCC-SIM, KBC's kinetic catalytic cracking reactor
model, for over ten years. This new agreement builds on the prior success of
KBC's software at Valero with the follow-on licensing of other rigorous KBC SIM
models - HCR-SIM for hydrocracking, multiple HTR-SIM models for hydrotreating,
REF-SIM for reforming, and DC-SIM for delayed coking. In addition, the agreement
includes Petro-SIM and Petro-SIM Express process simulation software. The
agreement gives Valero access to the KBC process optimisation tools throughout
its refineries. The long-term agreement also provides for annual software
upgrades and technical support.
George Bright, Chief Executive of KBC, commented: "We very much look forward to
working with Valero to install and fully leverage its investment in simulation
technology. At the same time, we will continue to develop this technology and
look forward to further success in the future."
- Ends -
For further information please contact:
KBC Advanced Technologies plc 01932 236314
George Bright, Chief Executive
Nicholas Stone, Operations and Finance Director
Weber Shandwick Financial 020 7067 0700
Richard Hews / Rachel Martin / Hannah Marwood
Notes to Editors:
KBC Advanced Technologies plc, a leading independent consulting, process
engineering and software group, delivers improved operating performance to the
oil refining, petrochemical, and other process industries worldwide. We provide
process consulting, strategic planning advice, energy price forecasting and
market analysis, economic studies, capital project services, and training to
help clients achieve their business objectives and improve their competitive
position. The KBC human performance improvement division provides organisational
effectiveness services, training programmes, operations manuals, and personnel
development services. Our consultants recommend changes for material and
measurable improvements in profitability. To assist clients in realising such
improvements, KBC provides implementation services and software solutions,
including the KBC SIM models and Petro-SIM for process optimisation, and energy
optimisation software packages. Formed in 1979, KBC has offices in the UK, USA,
Canada, Singapore, the Netherlands, Russia, China, and Japan. For more
information, visit www.kbcat.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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