General Physics Corporation Receives 100% Award Fee from Arnold Engineering Development Center, Arnold Air Force Base, Tennessee
Elkridge, MD. May 21, 2007. Global performance improvement solutions provider General Physics Corporation (GP), a subsidiary of GP Strategies Corporation (NYSE: GPX), announced that it received its 17th consecutive 100% award fee from the U.S. Air Force, Arnold Engineering Development Center (AEDC), Arnold Air Force Base, Tennessee. The award is a result of the sustained excellent performance during the award fee period, October 1, 2006 through March 31, 2007, and represents the maximum award possible.
In announcing the award, AEDC stated that GP received the 100% award fee because it met all program goals set at the beginning of the period while continuing to deliver services in an effective and cost-efficient manner. The announcement letter from AEDC also noted GP’s on-time delivery, ahead of schedule reporting, commitment to excellence through teamwork, technical expertise, flexibility and diligence as reasons for the period award fee. In support of AEDC, GP provides engineering, inspection and configuration management services to ensure that the facility infrastructure can safely meet mission requirements. GP has been a contractor at AEDC since 1989.
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 Sandy Corporation division, 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