HOUSTON, March 14, 2011 (GLOBE NEWSWIRE) -- ENGlobal (Nasdaq:ENG), a leading provider of engineering and related project services, announced today that it has been awarded a three-year alliance contract to provide multidisciplinary engineering, procurement, and construction management (EPCm) services for a global manufacturer of petrochemicals, specialty chemicals, and plastics. The preferred provider alliance is worth up to $15.0 million in services revenue over the life of the contract.
Under the terms of the agreement, ENGlobal's scope consists of small capital and expense projects or assignments that typically have less than a $1.0 million total installed cost (TIC) and are provided on a time and materials basis. Services provided under the new alliance, which begins immediately, will primarily consist of engineering analysis, drawings, specifications, procurement for construction, and operation and maintenance projects. The Company expects to provide multidisciplinary engineering support, including mechanical, process, civil, structural, electrical, instrumentation, and controls.
The alliance will also include a special focus on the development and implementation of proven processes that drive operational efficiencies in several of the client's chemical locations. ENGlobal and its client will build on the existing utilities and infrastructure to meet current and future demands within the client's downstream operations.Edward L. Pagano, Chief Executive Officer of ENGlobal, said: "This multi-year alliance is an important win for us and we're delighted to have been appointed by our client following a competitive bid process. The chemical processing industry has undergone a challenging time and we're pleased to have been chosen by this client to provide in-plant personnel for all of its Texas facilities just as industry conditions begin to improve." Mr. Pagano continued: "One of ENGlobal's many strengths is that we are seen as an integral partner to help our clients achieve efficient, compliant and cost-effective solutions. We consistently leverage our capabilities and expertise by working closely with customers to provide personnel and resources that allow us to complete our clients' projects successfully."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV