Sasol's innovative use of simulation models declared Edelman finalist
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20 January 2010
A groundbreaking Sasol Technology innovation, which has led to over $230 million added value to Sasol over the past 10 years, has been nominated as a finalist in the prestigious annual Edelman Awards for the practice of Operations Research.
Sasol's use of stochastic simulation models will be pitted against five other international Edelman finalists for the 2010 award. The simulation models are
the innovation of Sasol Technology's value chain optimisation team and have been an integral component of the company's strategic decision support process since
2000.
The simulation models are able to reflect production variability over time, better than the standard average-based techniques, which are currently
available. The models are used to build business cases for gas and liquid production facility changes, to highlight risks and to assist strategic decision making.
The Sasol simulation models and the work of the other finalists in the Edelman competition all use analytical tools employed in Operations Research to make a major impact on an organisation and the people that it serves.
"We believe that these simulation models can be applied in wider fuels and chemical industries and represent an innovative step forward for operations
research in the chemical engineering discipline. It is difficult to believe we were able to build business cases before we had these exceptional models and the
quality data they are able to provide," explains Sasol Technology managing director Willem Louw.
Sponsored by the Institute for Operations Research and the Management Sciences (INFORMS®), the purpose of the Edelman competition is to showcase, recognise and reward outstanding examples of Management Science and Operations
Research practice in the world.
Sasol has also been nominated for the INFORMS® prize which is awarded annually to the company that makes the most effective use of Operations Research across their business.
The winners of both awards will be announced at a Gala event on 19 April in Orlando, Florida.
ENDS.
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Sasol may, in this document, make statements that are not historical facts and relate to analyses and other information based on forecasts of future results and estimates of amounts not yet determinable. These are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "believe", "anticipate", "expect", "intend", "seek", "will", "plan", "could", "may", "endeavor" and "project" and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that predictions, forecasts, projections and other forward-looking statements will not be achieved. If one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results may be very different from those anticipated. The factors that could cause our actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements are discussed more fully in our registration statement under the Securities Exchange Act of 1934 on Form 20-F filed on October 9, 2009 and in other filings with the United States Securities and Exchange Commission. Forward-looking statements apply only as of the date on which they are made, and we do not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
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