ENGlobal Seeks to Increase Shareholder Value

    

ENGlobal Engages B. Riley FBR for Review of Strategic Alternatives to Increase Shareholder Value

Houston, TX, April 18, 2018 (GLOBE NEWSWIRE) -- ENGlobal Corporation, a leading provider of engineering and automation services, announced today that its Board of Directors has initiated a review of strategic alternatives. These alternatives could include strategic mergers, reverse mergers, the issuance or buyback of public shares, or the purchase or sale of specific assets, in addition to other potential actions aimed at increasing shareholder value.

For this purpose, the Company has engaged B. Riley FBR, Inc., a subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY) as its exclusive financial advisor to help identify, analyze, negotiate, and close any potential transaction or series of transactions.

"We are undertaking this important review of alternative strategies in order to increase value for our shareholders while continuing to enhance our extensive range of project execution services," said William A. Coskey, P.E., CEO and Chairman of ENGlobal. "The B. Riley FBR team has demonstrated their extensive knowledge of our industry and also showcased their deep understanding of the opportunities available to ENGlobal as a public platform. We're pleased to have chosen them as our partner for this process and are confident we will find a solution that achieves the Company's overall objectives."

The Company does not intend to disclose or comment on developments related to its review unless and until the Board has approved a specific transaction or otherwise determined that further disclosure is appropriate.  There can be no assurance that the Board's strategic review will result in any transaction, or any assurance as to its outcome or timing.