ENGLOBAL ANNOUNCES RECENT PROJECT AWARDS
April 09 2019 - 9:15AM
ENGlobal Corporation (NASDAQ: ENG) (“ENGlobal”) is pleased to
announce first quarter 2019 project awards totaling approximately
$14 million. The highlighted scopes of work awarded during this
period are summarized below:
- ENGlobal has been awarded multiple engineering, procurement and
on-site service contracts to assist an idled oil refinery and
terminal operator with refurbishing its regulatory and process
analytical systems. This ongoing effort is planned to expedite
startup of these facilities while supporting plant safety,
environmental compliance, and product quality. The total value of
new work awarded during the first quarter of 2019 was approximately
$4.2 million.
- ENGlobal has been commissioned by a large petrochemical company
to design, fabricate and integrate two modular remote instrument
buildings valued at approximately $1.2 million.
- A major E&C firm has engaged ENGlobal to perform detailed
engineering and design services for the revamp of a fluid catalytic
cracking (FCC) unit at a mid-continent refinery. This award is
valued at approximately $1 million.
"We are realizing significant benefits from our
new estimating and proposal team which was assembled late last
year," stated William A. Coskey, P.E., Chairman and CEO of
ENGlobal. "I’m proud to report that ENGlobal’s proposal win rate is
approximately forty percent over the last six months, a significant
improvement primarily due to the consistency and increased volume
of our proposal efforts.”
Mr. Coskey continued: “We currently have
approximately $35 million of proposals pending together with
approximately $30 million of current contracted backlog as of March
30, 2019. We thank each of our clients for their confidence in our
abilities and greatly look forward to working closely with each of
them toward successfully executed projects."
About ENGlobal:
ENGlobal (Nasdaq: “ENG”) is a leading provider
of engineered modular solutions to the energy sector throughout the
United States and internationally. ENGlobal operates through two
business segments: Automation and Engineering. ENGlobal’s
Automation segment provides services related to the design,
integration and implementation of process distributed control and
analyzer systems, advanced automated data gathering systems and
information technology. Within the Automation segment, ENGlobal’s
Government Services group provides engineering, design,
installation and operation and maintenance of various government,
public sector and international facilities, and specializes in the
turnkey installation and maintenance of automation and
instrumentation systems for the U.S. Defense industry worldwide.
The Engineering segment provides multi-disciplined engineering
services relating to the development, management and execution of
projects requiring professional engineering and related project
management services. Further information about the Company and its
businesses is available at www.ENGlobal.com.
Safe Harbor for Forward Looking Statements:
The statements above regarding the Company's
expectations regarding its operations and certain other 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 the timing,
amount and scope of any award and the amount of pending proposals
and backlog. 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.
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CONTACT:
Mark A. HessPhone: (281)
878-1000E-mail:
mark.hess@ENGlobal.com
E-mail: ir@ENGlobal.com
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