Elkridge, MD. September 29, 2008. Global performance improvement solutions provider General Physics Corporation (GP), a subsidiary of GP Strategies Corporation (NYSE: GPX), has been awarded a contract by the City of Los Angeles Department of General Services Fuel Services and Environmental Compliance Division Alternative Fuels Group for the design and construction of a Liquefied Natural Gas (LNG) and Liquefied to Compressed Natural Gas (LCNG) fueling station. When the project is completed it will be one of the largest LNG/LCNG fueling stations in the United States and will support California’s alternative fuels plan to increase the state's renewable fuel sources. The contract also includes state-of-the-art upgrades to an existing vehicle maintenance facility to enable indoor maintenance and repair of LNG and CNG vehicles.
GP was awarded the fixed-priced contract through a competitive bidding process. The fueling station portion of the project includes the design and construction of an LNG/LCNG fueling station that will include: four (4) 15,000-gallon LNG storage vessels; LNG offload and dispenser pumps; LNG vaporizers; six (6) LNG dispensers; high pressure LCNG pumps and vaporizers; two (2) CNG dispensers, backup generator, and safety and control systems. The vehicle maintenance facility portion of the contract includes replacement of existing overhead doors, installation of a new ventilation system and upgrade of existing electrical systems to allow indoor repair of CNG and LNG vehicles, and a backup generator.
“GP is pleased to be part of the growing initiative to integrate alternative fuels into the US economy and lessen our dependence on imported oil while reducing greenhouse gas emissions and improving air quality. This project is a clear example of the progress that can be made,” said Scott Greenberg, CEO of 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, engineering services, and the design and construction of fuel stations for CNG, LNG and hydrogen-fueled vehicles. GP’s solutions improve the effectiveness of organizations by delivering customized solutions to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, fleet operators, 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.
Scott N. Greenberg
Chief Executive Officer
Chief Financial Officer