Elkridge, MD. October 6, 2009 – Global performance improvement solutions provider General Physics Corporation (GP), the operating subsidiary of GP Strategies Corporation (NYSE: GPX), announced today that it has won the re-compete for a multi-year contract to provide personnel to manage and operate multiple Interactive Video Teletraining (IVT) studios providing training to a major federal agency.
GP has been providing these services for the last seven years. Positions include studio manager, production specialist, graphic specialist, video-on-demand specialist and content provider. Under the new contract which began October 1, 2009 the number of personnel required for this work has increased. The new contract has one base year and four option years as its period of performance and has been fully funded for the first year.
“This contract was won in a full and open competition where demonstrated understandings of the performance based work requirements and recent and relevant past performance were key evaluation factors in determining the selected company. We are pleased that the agency selected GP for these important services,” said Alan P. Tattersall, Senior Vice President of GP. “The selection of GP demonstrates that the comprehensive training services offered by GP are favorably received by the US government.”
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 http://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