Elkridge, MD. March 11, 2009 – Global performance improvement solutions provider General Physics Corporation (GP), a subsidiary of GP Strategies Corporation (NYSE: GPX), was recently awarded a contract by Progress Energy to provide the EtaPRO™ Performance and Condition Monitoring System for Progress Energy’s fossil power generation plants. This application provides real-time monitoring of power plant systems, providing information to plant operators that enables them to improve fleet performance and profitability, while reducing carbon emissions.
GP will provide an Enterprise EtaPRO License for Progress Energy’s 17,200 MW fossil steam and gas turbine driven power plants located in Florida and the Carolinas. The EtaPRO technology will be developed for Progress Energy through joint engineering projects. The first of the projects will start at the Anclote Steam Plant located near Holiday, FL, and continue with in-depth operator training at GP’s state-of-the-art Training Center located at Amherst, NY.
“Progress Energy is committed to operational excellence and continually seeks ways to improve fleet performance while reducing our impact on the environment,” said Progress Energy’s Director of Continuous Improvement Bernie Cook. “EtaPRO will enable us to track real-time data and trends on critical plant equipment from our utility-based monitoring and diagnostic centers. This information will allow us to develop more comprehensive maintenance plans and improve plant performance.”
Joe Nasal, GP Senior Vice President, added, “GP is pleased that Progress Energy chose the EtaPRO System to roll-out across their fleet. We look forward to working closely with them to improve their fleet availability, capacity and efficiency.”
The EtaPRO System is now, or in the process of being, installed in over 180,000 MW of power generation units worldwide. Through GP’s work with leading domestic and international companies, GP has gained substantial experience with fleet-wide monitoring and diagnostic centers, including its own Performance Monitoring and Diagnostic Center located at Amherst, NY.
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 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.
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