Elkridge, MD. February 18, 2009 – GP Strategies Corporation (NYSE: GPX) announced today that its subsidiary, global performance improvement solutions provider General Physics Corporation (GP), has been awarded contracts to design and construct multiple liquefied natural gas (LNG), liquefied to compressed natural gas (LCNG) and Hydrogen fueling stations totaling more than $16 million during the past six months, including the previously announced award by the City of Los Angeles valued at approximately $10 million. Alternative fuels work is a major emphasis for GP to support US initiatives to reduce greenhouse gas emissions, improve air quality, and reduce dependence on imported oil. The City of Los Angeles project also includes significant non-fueling station work, leveraging GP’s ability to handle more traditional construction.
Scott Greenberg, GP Strategies’ Chief Executive Officer said, “Despite the downturn in some parts of the economy, we continue to see an increase in demand for alternative fuel-related projects. These new projects are supported by both public and private funds, and driven by environmental as well as long-term economic factors, making them less susceptible to short-term changes in the price of oil. We believe that our leading position in designing and building LNG, LCNG and Hydrogen fueling stations will give GP another growth area during this difficult economy and a strong competitive advantage as demand for these stations continues to grow.”
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.
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