HOUSTON, Aug. 22, 2011 (GLOBE NEWSWIRE) -- ENGlobal (Nasdaq:ENG), a leading provider of energy-related project delivery solutions, announced today that it has been awarded a contract from Mississippi Power to provide fully fabricated analytical equipment for the Kemper County Integrated Gasification Combined Cycle (IGCC) Generating Facility.
Under the contract, ENGlobal is expected to engineer, design, fabricate, and test analyzer buildings and field racks as well as support field commissioning and provide verification testing. The process analytical equipment will be used to monitor levels of various process stream components such as ammonia, carbon monoxide, carbon dioxide (CO2), and oxygen to optimize process controls for the facility. ENGlobal will begin work immediately and expects to complete fabrication by the third quarter of 2012, with project completion anticipated in the second quarter of 2014.
Edward L. Pagano, President and Chief Executive Officer of ENGlobal, said: "This award exemplifies one of the many types of alternative energy project opportunities that ENGlobal identified in early 2011. We are pleased that Mississippi Power has selected ENGlobal to assist with this high-tech electric power plant, and to have a significant role in providing environmentally-friendly gasification benefits."
Mr. Pagano continued: "Our Automation segment is comprised of senior level professionals who specialize in engineering and programming of analytical and control systems across the energy industry. Our support of Mississippi's economic development project demonstrates ENGlobal's strong client partnerships in the state. We are pleased to join Mississippi Power in its commitment to find solutions that make technological, environmental and economic sense."
About ENGlobal
ENGlobal (Nasdaq:ENG), founded in 1985, is a provider of engineering and related project services principally to the energy sector throughout the United States and internationally. ENGlobal operates through three business segments: Engineering & Construction, Field Solutions and Automation. The Engineering & Construction segment provides consulting services relating to the development, management and execution of projects requiring professional engineering as well as inspection, construction management, mechanical integrity, field support, quality assurance and plant asset management. ENGlobal's Field Solutions segment provides project management and staffing for right-of-way and site acquisition, permitting, regulatory services, and legislative outreach. The Automation segment provides services related to the design, fabrication and implementation of process distributed control and analyzer systems, advanced automation, information technology, cybersecurity and heat tracing projects. ENGlobal has approximately 2,100 employees in 12 offices located in 9 cities. Further information about the Company and its businesses is available at www.ENGlobal.com.
Safe Harbor for Forward-Looking Statements
The statements above regarding the Company's expectations regarding its new contract and certain other matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws and are subject to risks and uncertainties including, but not limited to: (1) our successful execution of this project award and our receipt of prompt payment for the services we render to our client; (2) our ability to accurately estimate costs and fees on this and other fixed-price contracts; (3) our ability to attract and retain qualified personnel; (4) our ability to achieve our business strategy while effectively managing costs and expenses; (5) our ability to collect accounts receivable in a timely manner; (6) our ability win new projects that we can perform on a profitable basis; (7) our ability to respond appropriately to the current worldwide economic situation, including, among other things, political instability and the effect of changes in the price of oil; (8) the effect of changes in laws and regulations with which the Company must comply and the associated costs of compliance with such laws and regulations, either currently or in the future, as applicable; (9) the effect of changes in accounting policies and practices as may be adopted by regulatory agencies, as well as by the FASB; and (10) the effect of changes in our competitive position within our market in view of, among other things, the resulting changes in demand for our services and competitive pricing pressure. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in ENGlobal's filings with the Securities and Exchange Commission. In addition, reference is hereby made to cautionary statements set forth in the Company's most recent reports on Form 10-K and 10-Q, and other SEC filings.
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