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Global Power Equipment Group Awarded $20 Million Of Orders

Stocks in this article: GLPW

  • Energy Services segment integrates capabilities and expands opportunities
  • Nuclear Services segment extends geographic reach and diversifies customer base

IRVING, Texas, May 27, 2014 (GLOBE NEWSWIRE) -- Global Power Equipment Group Inc. (Nasdaq:GLPW) ("Global Power") announced today that it was awarded approximately $20 million of orders for two projects to be completed in 2014.

The first project required the integration of the Company's historic industrial services business and the specialty fabrication and welding expertise gained with its April 2013 acquisition of Hetsco. The project has two phases. The first phase is the preparation and installation of several skid support pads along a transportation pipeline running from the Canadian tar sands into Indiana. The second phase of the project, on the same pipeline system, is for the modification of a pumping station. This requires specific welding capabilities for the extraction of existing equipment and installation of piping and valves. Also included in the scope of work are required site grading and restoration activities. 

The second project is to replace the condenser tubes in the two main condensers at Entergy's James A. Fitzpatrick Nuclear Power Station located near Oswego, NY. It involves the removal and reinstallation of brass and titanium tubes and will be performed during the upcoming 2014 outage. The project will address condenser reliability and long-term equipment condition. 

Luis Manuel Ramírez, President and Chief Executive Officer of Global Power, commented, "The pipeline project reflects the success of our newly realigned, solutions-oriented organization. We won it through our proactive and collaborative commercial strategy. This is an important oil and gas project for our historic industrial services business and proof of the headway we are making with our strategy to participate in North America's natural gas infrastructure development." 

He added, "The second project represents a major milestone for our Nuclear Services business. The project expands our geographic reach and further diversifies our customer base."

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