Global Power Equipment Group Announces New Headquarters and Manufacturing Location for Hetsco
IRVING, Texas, Oct. 1, 2014 (GLOBE NEWSWIRE) -- Global Power Equipment Group Inc. (NYSE:GLPW) ("Global Power" or "Company") today reported that Hetsco, Inc., a business unit of its Energy Services Division, will be relocating from its current location in Greenwood, Indiana to a newly constructed headquarters and manufacturing facility in Franklin, Indiana in the first quarter of 2015.
Hetsco's move is consistent with Global Power's strategy of investing for continued growth of its specialized services in the industrial gas and oil & gas markets. Hetsco provides mission critical brazed aluminum heat exchanger ("BAHX") repair, maintenance, fabrication, construction and safety services to the industrial gas, liquefied natural gas ("LNG") and petrochemical industries. Hetsco has performed work in more than 40 states across the U.S. and in over 30 countries worldwide.
Sam Willard, President and COO of Hetsco, Inc. commented "The new 51,360-square-foot facility can be expanded to 150,000 square feet and provides a new platform for day-to-day operations. The new facility not only satisfies near-term growth requirements, but will also keep pace with our aggressive global development plans and enable us to better facilitate our customers' growing needs."
Tedd Sellers, President of Energy Services, added "These are very exciting times for both our customers and Hetsco business. Continued investments in domestic mid-stream oil and gas and air processing have presented us with a strategic opportunity to update our facility and capabilities and ensure we have a scalable solution to meet future demands. We expect a robust pipeline of opportunities in our fabrication business and believe this new facility provides us with a stronger platform to win business in these growing markets."
About Global Power
Texas-based Global Power Equipment Group Inc. is a design, engineering and manufacturing firm providing a broad array of equipment and services to the global power infrastructure, energy and process industries. It is comprised of three segments. Product Solutions includes two primary product categories: Auxiliary Products designs, engineers and manufactures a comprehensive portfolio of equipment for utility-scale natural gas turbines while Electrical Solutions provides custom configured electrical houses and generator enclosures for the midstream oil & gas industry, the power generation market to include distributed and backup power as well as other industrial and commercial operations. Energy Services provides lifecycle maintenance, repair, construction and fabrication services for the industrial, chemical/petrochemical process, oil and gas and power generation industries. Nuclear Services provides on-site specialty support, outage management and maintenance services to domestic utilities' nuclear power facilities. The Company routinely provides information at its website: www.globalpower.com.
CONTACT: Investor Relations Contact: Shawn Severson The Blueshirt Group (415) 489-2198 email@example.comSource: Global Power Equipment Group Inc.
Released October 1, 2014