Elkridge, MD. December 14, 2007. Global performance improvement solutions provider General Physics Corporation (GP), the operating subsidiary of GP Strategies Corporation (NYSE: GPX), recently crossed the 20,000 “seat” threshold with power plant customers using the GPiLearn™ web-based training portal serving both domestic and international power industry clients. GPiLearn™ is now used by more than 170 power generation industry companies.
GP’s Energy Services business unit, which provides world-class power plant products and services, also has recently been awarded over $2 million in competitive bid contracts with two major Midwest electric utilities to support engineering documentation and workforce training on several large projects intended to enable coal-fired power plants in the U.S. (which generate over half of all electricity consumed) to generate power in a more efficient and “greener” manner.
The Energy Services group recently completed the installation of 12 EtaPRO™ performance monitoring systems in Spain and Mexico (over 6,000,000 kilowatts of electric generating capacity) with four more EtaPRO™ systems scheduled to be installed in power plants expected to be completed in 2008, examples of significant international projects where customers use GP’s proprietary software as a tool to help them reduce greenhouse gas emissions as well as increase profitability through improved power plant operating efficiency. GP presently has an installed base of EtaPRO™ systems on over 490 generating units worldwide.
GP Strategies, whose principal operating subsidiary is General Physics Corporation, is a NYSE-listed company (GPX). GP is a global provider of training, e-learning solutions, management consulting, and engineering services. Through its Sandy Corporation and Via Training divisions, GP provides custom sales training 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 about GP Strategies may be found at www.gpstrategies.com and about General Physics Corporation 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.
Scott N. Greenberg
Chief Executive Officer
Chief Financial Officer