GP Strategies’ Operating Subsidiary Awarded Contract with Colorado Springs Utilities to Provide Customized Training Services
Elkridge, MD. October 29, 2009 – Global performance improvement solutions provider General Physics Corporation (GP), the operating subsidiary of GP Strategies Corporation (NYSE: GPX), announced today that it has been awarded a contract to provide customized business support and development and content development to Colorado Springs Utilities (CSU), a leading power company headquartered in Colorado Springs, Colorado.
Under this contract, customized resources will be provided for Springs Utilities employees at four locations; the Martin Drake, Ray D. Nixon, Birdsall, and Front Range Power generating stations. GP is working with Springs Utilities to develop site-specific training materials for all classifications of plant operators and maintenance technicians across the fleet. This development project is designed to significantly enhance their existing Skill Acquisition and Maintenance Program (SAMP) that is used to qualify and progress employees in their respective careers. The scope will supplement the internal University of Springs Utilities’ capability.
According to Jerry Forte, CEO of CSU, “Our partnership with GP and this latest contract award emphasizes our commitment to improving the continuous education of our employees. We firmly believe highly competent employees are critical to achieving our aggressive plant performance goals of safety, reliability, efficiency, and cost, while meeting and exceeding all applicable regulations.”
The project is already underway at all four locations. Mr. Joe Nasal, Senior Vice President for GP Energy Services stated, “GP has supported Colorado Springs Utilities for almost 20 years, and we are very proud of our strong relationship. We are especially pleased that this important project involves specific performance incentives related to quality, schedule compliance, and worker safety.”
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