Houston, Texas, Feb. 27, 2013 (GLOBE NEWSWIRE) -- ENGlobal Corporation (NASDAQ:ENG), a leading provider of energy-related engineering andautomation services, today provided an operational update on arange of project scopes that were recently awarded to itsAutomation Segment. · An automated pipehandling equipment company has awarded ENGlobal projects toengineer, integrate, and test a number of automated driller'scabins, which include consolidating drilling controls, automatedpipe handling controls, computer hardware and data processingsystems. · ENGlobal willprovide design and integration services for several analyzershelters and remote instrument enclosure (RIE) buildings for alarge engineering and construction firm, to be shipped to a varietyof end users. The Company's scope also includes engineering,procurement, and testing of the analyzer shelters and RIEs. · A midstreamenergy master limited partnership (MLP) has selected ENGlobal asits automation systems integration contractor. Specifically,the Company expects to provide procurement, fabrication, andtesting of industrial shelters, programmable logical controller(PLC) systems, railcar and truck loading / unloading facilities,and satellite transmitting and receiving stations. "We are pleased to receive these project awardsfrom both new and existing clients," said William A. Coskey, P.E.,ENGlobal's President and Chief Executive Officer. "ENGlobal iscommitted to being totally responsive to our valued clients - bothby providing quality services as well as supporting them in a rangeof new business opportunities, as illustrated by these recentawards." About ENGlobal ENGlobal (NASDAQ: ENG), founded in 1985, is a provider ofengineering and related project services principally to the energysector throughout the United States and internationally. ENGlobaloperates through two business segments: Automation and Engineering& Construction. ENGlobal's Automation segment provides servicesrelated to the design, fabrication & implementation of processdistributed control and analyzer systems, advanced automation, andrelated information technology. The Engineering &Construction segment provides consulting services relating to thedevelopment, management and execution of projects requiringprofessional engineering as well as inspection, constructionmanagement, mechanical integrity, field support, quality assuranceand plant asset management. ENGlobal has approximately1,500 employees in 12 offices and 9 cities. Furtherinformation about the Company and its businesses is available at www.ENGlobal.com. Safe Harbor for Forward-Looking Statements The statements above regarding the Company'sexpectations regarding its operations and certain other mattersdiscussed in this press release may constitute forward-lookingstatements within the meaning of the federal securities laws andare subject to risks and uncertainties including, but not limitedto: (1) our successful execution of these project awards andour receipt of prompt payment for the services we render to ourclients; (2) whether the exploration and consideration ofstrategic alternatives will result in any transaction and suchtransaction's effects on the Company and its stockholders;(3) our ability to comply with the terms of the forbearanceagreement with respect to the Company's Revolving Credit andSecurity Agreement, including our ability to develop a plan torestore compliance with the terms of such credit facility;(4) our ability to obtain the cure or waiver of defaults underthe Company's Revolving Credit and Security Agreement and ourexisting letter of credit facility with Export-Import Bank of theUnited States; (5) our ability to achieve profitability andpositive cash flow from operations; (6) our ability to collectaccounts receivable and process accounts payable in a timelymanner; (7) our ability to respond appropriately to thecurrent worldwide economic situation and the resulting decrease indemand for our services and competitive pricing pressure;(8) our ability to achieve our business strategy whileeffectively managing costs and expenses; (9) our ability toaccurately estimate costs and fees on fixed-price contracts;(10) the effect of changes in the price of oil;(11) delays related to the award of domestic and internationalcontracts; (12) our ability to execute to our internalperformance plans such as our productivity improvement and costreduction initiatives; (13) the effect of changes in laws andregulations with which the Company must comply and the associatedcosts of compliance with such laws and regulations, eithercurrently or in the future, as applicable; (14) the effect ofchanges in accounting policies and practices as may be adopted byregulatory agencies, as well as by the FASB; (15) the effecton our competitive position within our market area in view of,among other things, increasing consolidation currently taking placeamong our competitors; (16) our ability to win new businessand convert those orders to sales within the fiscal year inaccordance with our annual business plan; (17) achievement ofour acquisition and related integration plans; and (18) theuncertainties of the outcome of litigation. Actual results and thetiming of certain events could differ materially from thoseprojected in or contemplated by the forward-looking statements dueto a number of factors detailed from time to time in ENGlobal'sfilings with the Securities and Exchange Commission. In addition,reference is hereby made to cautionary statements set forth in theCompany's most recent reports on Form 10-K and 10-Q, and other SECfilings. Click here to join our email list: http://www.b2i.us/irpass.asp?BzID=702&to=ea&s=0.
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