Elkridge, MD. April 20, 2010 – Global performance improvement solutions provider General Physics Corporation (GP), a subsidiary of GP Strategies Corporation (NYSE: GPX), has recently won international contracts to provide EtaPRO™ Performance and Condition Monitoring Systems for 104 electric generating units owned and operated by Eskom Holdings Ltd.; Gas Natural SDG, S.A.; Électricité de France (EDF); and International Power plc. The EtaPRO System provides real-time monitoring and integrated thermodynamic modeling of power plants to improve efficiency and profitability while reducing carbon emissions. These multi-year contract awards, which exceed U.S. $7.9 million, will add to the more than 700 generating units in the existing EtaPRO installation base.
GP will provide EtaPRO Systems for Eskom’s fleet of 86 coal-fired electric power generating units, representing over 37,600 MWe of installed capacity in South Africa. Gas Natural has ordered EtaPRO Systems for an additional 11 combined cycle units in Spain and Mexico, which will raise the number of generating units monitored by EtaPRO for Gas Natural to 31. The additional EtaPRO contracts for EDF (France and UK) and International Power (Australia) apply to combined cycle power plants in their respective locations.
Joe Nasal, GP Senior Vice President, stated, “GP is pleased that these major power companies have selected our technologies. We look forward to our new working relationships with Eskom and EDF, as well as expanding our existing relationships with Gas Natural and International Power. With these awards, our EtaPRO System will now be deployed in 30 countries, improving power plant availability, capacity and efficiency worldwide. We are confident that these companies will benefit financially while also reducing greenhouse gas emissions through the use of our products and associated engineering services.”
About GP
GP is the principal operating subsidiary of GP Strategies Corporation (NYSE: GPX). GP is a global performance improvement solutions provider of sales and technical training, e-Learning solutions, management consulting and engineering services. GP’s solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting and business improvement services, customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers. Additional information may be found at www.gpworldwide.com.
We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as “expect,” “intend,” “believe,” “may,” “will,” “should,” “could,” “anticipates,” and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties, and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contacts:
Scott N. Greenberg
Chief Executive Officer
(410) 379-3640
Sharon Esposito-Mayer
Chief Financial Officer
(410) 379-3636
Jamie Coffey
Director, Communications
(443) 255-3400
