ENGLOBAL ANNOUNCES NEW ALLIANCE TASK FORCE
June 06 2018 - 6:00AM
ENGlobal (NASDAQ: “ENG”) announced today its recently formed
alliance task force that when fully staffed is expected to result
in incremental revenue in excess of $6 million per year for the
Company. This newly dedicated group has been organized to perform
engineering and project related services on a planned, multiyear
series of projects on behalf of a major independent exploration and
production company.
Initially, ENGlobal’s efforts will be directed
to oil and gas well site and centralized production facilities that
are based on a standardized, modular design methodology.
Based on the currently planned scopes of work, the Company believes
this task force could grow to over 30 full-time employees over the
course of this year. The task force is currently staffed at just
over half this level, with a majority being new hires having
related experience. The Company also sees excellent potential in
extending the standardized, modular design methodology to
additional facility types for its clientele.
Michael M. Patton, P.E., Senior V.P. stated:
“ENGlobal is honored to be selected to support our valued client in
this important multi-year program. We fully expect that our client
will realize significant value through our association - in terms
of design efficiencies, lower installed cost, expedited schedule,
and a safer work environment that is provided through
modularization. ENGlobal is very well positioned for assignments
such as this one, given our exceptional, full-service capabilities
for engineering, designing, fabricating and automating modular
engineered systems.”
About ENGlobal
ENGlobal (Nasdaq: ENG) is a provider of
engineering and automation services primarily to the energy sector
throughout the United States and internationally. ENGlobal
operates through two business segments: Automation and Engineering.
ENGlobal's Automation segment provides services related to the
design, fabrication and implementation of distributed control,
instrumentation and process analytical systems. Within the
Automation segment, ENGlobal’s Government Services group provides
engineering, design, installation, operations, and maintenance of
various government, public sector, and international facilities,
specializing in turnkey automation and instrumentation systems for
the U.S. Defense industry worldwide. The Engineering segment
provides consulting and fabrication services for the development,
management and execution of projects requiring professional
engineering, construction management, fabrication and related
support services. 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 operations 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 the size of the
internal task force, the scope of work to be performed by the
internal task force and the timing of the receipt of and the amount
of projected incremental annual revenue to be provided by the
internal tax force. For a discussion of additional risks and
uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements, see ENGlobal’s
filings with the Securities and Exchange Commission, including the
Company’s most recent reports on Form 10-K and 10-Q, and other SEC
filings.
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CONTACT:
Mark A. Hess
Phone: (281) 878-1000
E-mail: mark.hess@ENGlobal.com
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