This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

ENGlobal Awarded Alliance Agreement

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."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs