ENGlobal Completes Strategic Acquisition; Control System Capabilities Expanded.Energy Editors/Business Editors HOUSTON--(BUSINESS WIRE)--Nov. 3, 2003 ENGlobal Corporation (AMEX AMEX See: American Stock Exchange :ENG ENG electronystagmography. ENG abbr. electronystagmography ENG enzootic nasal granuloma. ) announced today that its subsidiary, ENGlobal Technologies, Inc., has purchased all of the ownership interest of Senftleber & Associates, L.P. ("Senftleber"), a Houston-based provider of technical personnel with expertise in SCADA (Supervisory Control And Data Acquisition) A process control application that collects data from sensors and machines on the shop floor or in remote locations and sends them to a central computer for management and control. systems ("Supervisory Control And Data Acquisition (application) Supervisory Control and Data Acquisition - (SCADA) Systems are used in industry to monitor and control plant status and provide logging facilities. SCADA systems are highly configurable, and usually interface to the plant via PLCs. "). Terms of the agreement were not disclosed. Operating companies, such as pipelines and utilities, utilize SCADA systems extensively to monitor the status of and to control remote facilities from a centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. master station. Senftleber's activities are specifically focused on master station installations, which are the hub of these communication systems. This strategic acquisition allows ENGlobal to expand its capabilities with respect to the specification, programming and maintenance of SCADA master stations. To date, ENGlobal's SCADA work has been primarily focused on the design and automation of remote facilities that communicate with the SCADA master station. Senftleber was originally founded in 1988 by the late Mr. Al Senftleber, a well-respected pioneer in the SCADA industry. The company produced over $2 million in revenues during each of the last three calendar years. It is expected that the company will adopt the ENGlobal Technologies name after a short transition period. "The acquisition of Senftleber adds valuable technical capabilities to ENGlobal Technologies, which can be utilized by many of our existing clients," stated Michael L. Burrow, P.E., Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ENGlobal. "While this acquisition is relatively small, we are continuing negotiations with several larger potential acquisition candidates as we continue our efforts to execute on our acquisition strategy." About ENGlobal Corporation ("ENGlobal") ENGlobal Corporation, a product of the merger between Industrial Data Systems Corporation and Petrocon Engineering, Inc., provides engineering services and engineered systems principally to the petroleum refining, petrochemical, and pipeline and process industries throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and across the globe. ENGlobal's multi-discipline engineering and design staff develops projects from the initial planning state through detailed design, procurement, and construction management. The Systems Group specializes in control and instrumentation systems utilized in various energy and processing related industries while its Technologies Division provides services and products that support the advanced automation and environmental technology fields. The Constant Power Division fabricates industrial grade uninterruptible electrical power systems and battery chargers. Further information about the Company and its subsidiaries is available at www.englobal.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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, the Company's ability to achieve its business strategy while effectively managing costs and expenses. 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. Reference is hereby made to cautionary statements set forth in the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2002, Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, June 30, and September 30, 2003, current Forms 8-K, and other SEC filings. |
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