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06 June 2018
New Englobal Alliance
ENGLOBAL ANNOUNCES NEW ALLIANCE TASK FORCE
HOUSTON, TX, June 06, 2018 (GLOBE NEWSWIRE) -- ENGlobal (NASDAQ: "ENG") announced today its recently formed alliance task force that when fully staffed is expected to result in incremental revenue in excess of $6 million per year for the Company. This newly dedicated group has been organized to perform engineering and project related services on a planned, multiyear series of projects on behalf of a major independent exploration and production company.
Initially, ENGlobal's efforts will be directed to oil and gas well site and centralized production facilities that are based on a standardized, modular design methodology. Based on the currently planned scopes of work, the Company believes this task force could grow to over 30 full-time employees over the course of this year. The task force is currently staffed at just over half this level, with a majority being new hires having related experience. The Company also sees excellent potential in extending the standardized, modular design methodology to additional facility types for its clientele.
Michael M. Patton, P.E., Senior V.P. stated: "ENGlobal is honored to be selected to support our valued client in this important multi-year program. We fully expect that our client will realize significant value through our association - in terms of design efficiencies, lower installed cost, expedited schedule, and a safer work environment that is provided through modularization. ENGlobal is very well positioned for assignments such as this one, given our exceptional, full-service capabilities for engineering, designing, fabricating and automating modular engineered systems."
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