Elkridge, MD. June 12, 2007. Global performance improvement solutions provider General Physics Corporation (GP), a subsidiary of GP Strategies Corporation (NYSE: GPX), announced that on June 1, 2007 it acquired, through its fully owned subsidiary, General Physics (UK) Ltd (GPUK), the business of Smallpeice Enterprises Ltd, a provider of business improvement technical and management training services. The annualized revenue exceeded $5 million in their latest fiscal year.
Smallpeice Enterprises Ltd (www.smallpeice.com) has over 40 years experience and an exceptional reputation in designing, leading and supporting business improvement programs for an international blue chip client base within engineering, manufacturing and service sectors. Project-based programs in Lean Enterprise, Six Sigma, and New Product Development are complemented by an extensive range of core skills training in Leadership, Culture Change, Process Improvement, Project Management and Team Development. In addition to public courses which take place at Smallpeice’s prestigious training facilities in central UK, the company specializes in providing customized programs, working at all levels from Executive Coaching through to Operational team training.
GP expects to be able to leverage Smallpeice’s portfolio of services and materials to its worldwide customer base.
Scott Greenberg, Chief Executive Officer of GP stated, “The acquisition of Smallpeice Enterprises Ltd. expands GPUK’s European service offering, client base and market sector reach. This is consistent with the company’s growth strategy of providing global solutions to its customers through local GP operations teams”.
About GP
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.gpemea.com and 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