Quantcast
 
New book by Larry Connors Click here Improve your trading - See how


 

ENGlobal Announces Formation of Government and Infrastructure Group; New Organizational Appointments

Thu. October 15, 2009; Posted: 06:55 AM
Stocks RSS
HOUSTON, Oct 15, 2009 (BUSINESS WIRE) -- ENG | Quote | Chart | News | PowerRating -- ENGlobal (NASDAQ:ENG), a leading provider of engineering and related project services, today announced the formation of a Government and Infrastructure business unit. This initiative will target markets that the Company believes have significant potential for ENGlobal's services, such as providing design, installation and maintenance of various government, public sector, and international facilities. The Government and Infrastructure group will include the Company's technical services division that provides automated fuel handling systems and instrumentation and control services to branches of the U.S. military.

In support of this strategy, the following senior level appointments have been announced:

Michael M. Patton, currently Senior Vice President--Business Development, has been appointed President of the Government and Infrastructure group. In his new role, Mike will oversee the newly formed business which will be responsible for ENGlobal's domestic and international activities on behalf of government and infrastructure clients. Mr. Patton has over 29 years of experience in all aspects of multi-discipline engineering and construction projects for the oil and gas, electrical power, military and municipal utility industries.

J. Michael Harrison, has assumed the role of Senior Vice President--Business Development. Mr. Harrison will oversee company-wide sales and marketing activities. Mr. Harrison has over twenty years engineering and construction experience in the refining, petrochemical, pipeline and midstream oil/gas processing industries, with such firms as Aker Kvaerner and Jacobs Engineering. His past successes include selling capital project engineering services from $5 million to $500 million in total installed cost, developing and implementing sales strategies, global account management, and international sales.

"I believe our new Government and Infrastructure business has tremendous potential and I fully expect it to contribute to the future growth for the Company. We have a great leader in Mike Patton, a person who is uniquely qualified to make this new venture a success," said William A. Coskey, P.E., Chairman and CEO of ENGlobal Corporation. "In addition, we are very happy to welcome Mike Harrison to the ENGlobal senior management team. His enthusiasm and vast experience should serve us -- and our clients -- well. I have great respect for Mike Patton and Mike Harrison and believe they will both excel in their important new roles."

About ENGlobal

ENGlobal provides engineering, construction, automation, land and governmental services principally to the energy sector throughout the United States and internationally. The Company has over 2,200 employees in 19 offices and occupies about 500,000 square feet of office and fabrication space. ENGlobal has been named one of the fastest growing engineering firms in the United States and Canada by ZweigWhite in each of the last six years. Further information about the Company and its businesses is available at www.ENGlobal.com.

Safe Harbor for Forward-Looking Statements

Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws and are subject to risks and uncertainties including, but not limited to: (1) our ability to respond appropriately to the current worldwide economic situation and the resulting decrease in demand for our services and competitive pricing pressure; (2); our ability to achieve our business strategy while effectively managing costs and expenses; (3) our ability to successfully sell our services to the government and to infrastructure clients; (4) our ability to collect accounts receivable in a timely manner; (5) our ability to accurately estimate costs and fees on fixed-price contracts; (6) the effect of changes in laws and regulations with which the Company must comply and the associated costs of compliance with such laws and regulations, either currently or in the future, as applicable; (7) the effect of changes in the price of oil; (8) the effect of changes in accounting policies and practices as may be adopted by regulatory agencies, as well as by the FASB; (9) the effect on our competitive position within our market area in view of, among other things, increasing consolidation currently taking place among our competitors; and (10) our ability to increase or replace our line of credit. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in ENGlobal's filings with the Securities and Exchange Commission. In addition, reference is hereby made to cautionary statements set forth in the Company's most recent reports on Form 10-K and 10-Q, and other SEC filings. Also, the information contained in this press release is subject to the risk factors identified in the Company's most recent Form 10-K.

Click here to join our email list: http://www.b2i.us/irpass.asp?BzID=702&to=ea&s=0.

SOURCE: ENGlobal

ENGlobal 
Natalie S. Hairston, 281-878-1000 
ir@ENGlobal.com
For full details for ENG click here.

    


More News:   Market Updates | Stock Alerts | All Trading News | Stock Index

Email
Print
Archives
Feedback
Email Article Link
Close X
Recipients email address
Your name
Your email
Add a note (optional)




Stocks RSS





Related News [ENG]
  UPCOMING EVENTS
Learn new strategies, how to trade in this market, and the stocks you should be focusing on each day. Join us for our free 20 minute tele-seminars during the week.
* Attendance is strictly limited and are filled on a first-come, first-served basis.
PREMIER SPONSORED LINKS
TRADE CENTER
 
The TradingMarkets Directory
RELATED SITES
Nothing but forex
Please call 1-213-955-5858 ext. 1

About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

© Copyright 2009 The Connors Group, Inc.


All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.

© 2009 The Connors Group, Inc.