Elkridge, MD. February 28, 2008. -- Global performance improvement solutions provider General Physics Corporation (GP), a subsidiary of GP Strategies Corporation (NYSE: GPX), has again been chosen by United Technologies Corp. (NYSE:UTX) to provide training management services to support UTC’s educational assistance, and learning and development programs.
As part of its training business process solution, GP provides UTC with a set of services that includes training administration, course material logistics, and vendor payments for corporate headquarter-sponsored domestic U.S. training. GP also provides administration of UTC’s Employee Scholar Program (ESP) for all domestic U.S. employees including university payments and global processing of ESP awards. GP supports UTC’s programs, utilizing a custom-developed education management application and centralized call and processing center. GP has provided training services to UTC since 2003.
Among the UTC initiatives supported by GP services is UTC’s Employee Scholar Program, which pays 100 percent of the academic costs for any UTC employee studying at an accredited institution and grants them a stock award upon completion of a degree. Since the program was established in 1996, UTC has spent more than $689 million on tuition, books, fees and stock grants for those who completed degrees.
GP has provided training business process outsourcing services for over 20 years, and its training administration and logistics processes are ISO 9002 registered. Adherence to these processes ensures that every service, product, and process meets the highest industry standards.
United Technologies Corp., based in Hartford, Connecticut, is a diversified company that provides high-technology products and support services to the commercial building and the aerospace industries through its Otis, Carrier, UTC Fire & Security, UTC Power, Pratt & Whitney, Hamilton Sundstrand, and Sikorsky business units. Additional information may be found at www.utc.com.
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. Through its PMC, Sandy Corporation and Via Training divisions, GP provides custom sales training solutions. 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.
Scott N. Greenberg
Chief Executive Officer
Chief Financial Officer