Elkridge, MD. January 16, 2007. Global performance improvement solutions provider General Physics Corporation (GP), a subsidiary of GP Strategies Corporation (NYSE: GPX), has been awarded a contract to expand and upgrade the City of Phoenix Liquefied Natural Gas (LNG) and Liquefied to Compressed Natural Gas (LCNG) fueling station located at the Public Transit Department’s South Transit facility.
GP was awarded the fixed-priced construction contract through a competitive bidding process. The project includes the installation of a new 30,000 gallon LNG storage vessel and emergency generator, as well as replacing three LNG dispensers and associated pumps, safety, and control systems. When completed, the station will be one of the largest LNG and LCNG fuel stations in the US.
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.
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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