Elkridge, MD. November 23, 2009 – Global performance improvement solutions provider General Physics Corporation (GP), the operating subsidiary of GP Strategies Corporation (NYSE: GPX), announced today that its multi-year contract with a leading global software corporation has been expanded to allow GP to provide delivery, learning infrastructure, and learning operations and logistics services in addition to their existing contract for content development and vendor management.
“This addendum to the contract allows us to provide additional services to our client, covering the entire spectrum of learning and development activities to the enterprise that is beyond our original engagement. Since the initial rollout of this engagement, this Company has become a top 10 customer in terms of revenue to GP. GP’s team has done an exceptional job in meeting or exceeding its service-level agreements in the first six months of this engagement. This expansion of learning services is a testament to the performance, hard work and dedication of our team,” said Don Duquette, Executive Vice President of GP.
GP is the principal operating subsidiary of GP Strategies Corporation (NYSE: GPX). GP is a global performance improvement solutions provider of sales and technical training, e-Learning solutions, management consulting and engineering services. GP’s solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting and business improvement services, customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers. Additional information may be found at http://www.gpworldwide.com.
Scott N. Greenberg
Chief Executive Officer
Chief Financial Officer
We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as “expect,” “intend,” “believe,” “may,” “will,” “should,” “could,” “anticipates,” and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties, and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.