23rd May 2007 10:24
AVEVA Group PLC23 May 2007 AVEVA - The Company of Choice for Engineering Portal Solutions AVEVA (LSE:AVV), a leading provider of plant lifecycle information managementsolutions, is pleased to announce that, following a recent US$2.5 million (£1.3 million) contract win, the third of the world's four super oil majors joins BP and Shell in adopting AVEVA's engineering portal solution (VNET). VNET is an open and highly configurable solution that can quickly be deployedand tailored to complement an organisation's existing work processes andsystems. It is the only true low risk Information Management solution, havingbeen proven in 24/7 operations on some of the world's largest and most complexplants. Richard Longdon, CEO of AVEVA comments: "The Oil and Gas sector is the traditional strength for AVEVA, with a largenumber of customers active in this area. By adopting a solution that drivesinformation management strategy by linking business processes with the bestinformation management tools, owner operators are able to significantly reducethe risk associated with data handover, and this is why more and more customersare selecting the VNET solution." For further information, please contact:Alison PateyAVEVATel: +44 (0)1223 [email protected] About AVEVA Group plc AVEVA Group plc is one of the world's foremost and fastest-growing lifecycleengineering IT solutions and services providers to the oil and gas, paper andpulp, power, chemical, pharmaceutical and shipbuilding industries. Listed on the London Stock Exchange (LSE:AVV), the Group reported pre-tax profits for the year ended March 2007 of GBP 24.7 million on revenues of GBP 94.9 million. The Group has grown consistently since 1967 on the strength of pioneering engineering technology that protects the information assets of its customers from the volatile nature of the IT industry. The Group's history of innovation spans five decades and has produced most oftoday's major engineering IT technologies. Serving over 1600 clients, AVEVA hasa dominant position in many market sectors both on and offshore. In May 2004,the Group acquired Tribon Solutions AB, the market-leading shipbuilding solution company and now serves 85% of the world's top 20 shipbuilders. The Group's clients include leading plant owner operators, shipbuilders andengineering contractors such as Aker Kvaerner, ALSTOM Power, AMEC, Areva NP,BASF, BP, China Huanqiu Contracting & Engineering Corporation, Daewoo HeavyIndustries, Daewoo Shipbuilding & Marine Engineering (DSME), Dalian NewShipbuilding, Du Pont, Electricite de France, ExxonMobil, Halliburton, HanjinHeavy Industries, Hitachi, Hudong Zhonghua Shipyard, Hyundai Heavy Industries,Kawasaki Heavy Industries, Kawasaki Shipbuilding Corporation, Merck, MitsubishiHeavy Industries, Mitsui Engineering & Shipbuilding, North-West Electric PowerDesign Institute, Petronas Carigali, Samsung Engineering, Shanghai WaigaoqiaoShipbuilding, Shell, Sinopec Engineering Incorporation, STX Shipbuilding andUhde. Headquartered in Cambridge, England, AVEVA Group plc and its operatingsubsidiaries currently employ more than 600 staff worldwide with offices inEngland, Australia, Canada, China, France, Germany, Hong Kong, India, Italy,Japan, Malaysia, Norway, Russia, Saudi Arabia, Singapore, Sweden, South Koreaand the USA. About VNET AVEVA VNET is an application-independent, web-enabled platform for theintegration and collaboration of asset information. Schematics, 3D models,real-time operational data, documents and data from any application across theentire asset life-cycle can be accessed and navigated in context. By making theinformation contained within asset data work harder, VNET Portal delivers themost comprehensive digital profile of our client's physical asset. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AVV.L