Elkridge, MD. June 24, 2008. Global performance improvement solutions provider General Physics Corporation (GP), the operating subsidiary of GP Strategies Corporation (NYSE: GPX), reported today that twenty-three commercial nuclear power plants have purchased Revision 4 of GP’s Generic Fundamentals (GF) training materials since its release in January 2008. GP’s Generic Fundamentals training materials prepare nuclear plant operators to take the Nuclear Regulatory Commission (NRC)-administered Generic Fundamentals exam as part of its initial licensing process for United States (US) nuclear power plant operators. Revision 4 incorporates topics that were not included in previous versions of the GP GF training materials.
Revision 4’s rapid acceptance by the nuclear power industry has also led to conversations with reactor vendors about using GP materials as a starting point to economically and rapidly train the operators of the next generation of nuclear power plants. Thirty-four new reactors are currently on the drawing board with additional projects expected as interest in nuclear power grows. Four primary designs are being marketed, each requiring design-specific training curricula. GP’s 40 years of industry experience and library of existing material uniquely positions the company to respond to the emergent need.
“It is an exciting time in our business with a lot of work to be done. A single new plant will typically require the hiring and training of several hundred employees, and there are thirty-four such sites already planned by the industry. Companies that can quickly bring training solutions to the table and implement them will prosper,” says Jeff Klein, Vice President of GP Nuclear Services.
About 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 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.
Contacts:
Scott N. Greenberg
Chief Executive Officer
(410) 379-3640
Sharon Esposito-Mayer
Chief Financial Officer
(410) 379-3636
Jamie Coffey
Director, Communications
(443) 255-3400