Elkridge, MD. January 4, 2007. Global performance improvement solutions provider General Physics Corporation (“GP”), the operating subsidiary of GP Strategies Corporation (NYSE: GPX), announced today that it has established a subsidiary in India, GP Consulting (India) Private Limited (“GP India”), to support existing clients within India and its growing presence in the Asia-Pacific region.
GP’s new office in Chennai, India, opened with fifteen employees, including an in-country manager, providing technical services in the semi-conductor manufacturing industry. GP recently hired Mr. Sanjay Mandal as GP’s Country Manager for India. Mr. Mandal will report to Senior Vice President Dan Miller, who leads GP’s Asia-Pacific Operations.
Mr. Mandal brings nearly 20 years of training and consulting experience to GP India. His past work has included the oversight of management development (training and consulting), marketing and strategic planning for an India-based marketing firm along with product management in the manufacturing sector, working with multinational companies.
In addition to the expansion of operations into India, GP’s Asia-Pacific operations include offices in Malaysia (Kuala Lumpur) and Singapore.
GP is the principal operating subsidiary of GP Strategies Corporation (NYSE: GPX). GP is a global performance improvement solutions provider of training and 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.
This report contains 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, as amended. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward looking statements. Forward–looking statements are not statements of historical facts, but rather reflect our current expectations concerning future events and results. We use words such as “expects”, “intends”, “believes”, “may”, “will” and “anticipates” to indicate forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including, but not limited to, those factors set forth under Item 1A , Risk Factors , in our Annual Report on Form 10-K and those other risks and uncertainties detailed in the Company’s periodic reports and registration statements filed with the Securities and Exchange Commission. We caution that these risk factors may not be exhaustive. We operate in a continually changing business environment, and new risk factors emerge from time to time. We cannot predict these new risk factors, nor can we assess the effect, if any, of the new risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ from those expressed or implied by these forward-looking statements.
If any one or more of these expectations and assumptions proves incorrect, actual results will likely differ materially from those contemplated by the forward-looking statements. Even if all of the foregoing assumptions and expectations prove correct, actual results may still differ materially from those expressed in the forward‑looking statements as a result of factors we may not anticipate or that may be beyond our control. While we cannot assess the future impact that any of these differences could have on our business, financial condition, results of operations and cash flows or the market price of shares of our common stock, the differences could be significant. We do not undertake to update any forward-looking statements made by us, whether as a result of new information, future events or otherwise. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this report.
Scott N. Greenberg
Chief Executive Officer
Chief Financial Officer