ENGlobal Corporation Provides Corporate Update.HOUSTON -- ENGlobal Corporation (AMEX AMEX See: American Stock Exchange :ENG ENG electronystagmography. ENG abbr. electronystagmography ENG enzootic nasal granuloma. ), a leading provider of engineering services, announced today that its 2005 Annual Meeting of Stockholders will be held at 10:00 a.m. CDT CDT abbr. Central Daylight Time CDT Central Daylight Time CDT n abbr (US) (= Central Daylight Time) → hora de verano del centro; (BRIT on Thursday, June 16, 2005, in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the at The Greenspoint Club, located at 16925 Northchase Drive, Suite 500, Houston, TX 77060. Stockholders of record at the close of business on April 18, 2005 shall be entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to vote at the 2005 Annual Meeting. The Company will mail a notice of the meeting and related proxy materials Proxy Materials Documents regulated by the Securities & Exchange Commission in which a public company outlines its methods and procedures. These documents are used to inform shareholders and solicit votes for corporate decisions, such as the election of directors and other to stockholders of record on or about April 29, 2005. In March 2005, ENGlobal Systems, Inc., a subsidiary of ENGlobal Corporation ("ESI (Edge Side Includes) A markup language for Web pages that enables elements of a Web page to be dynamically assembled in servers distributed throughout the Internet. "), announced the development of a unique, patent-pending design system called "Integrated Rack(TM)." ENGlobal anticipates that this patent-pending Integrated Rack will allow it to install and maintain control, communication, and analytical equipment, either alone or in combination, in a more efficient manner than existing design systems permit. ENGlobal's new design system provides coordinated, cohesive and efficient support to both communication systems and power and environmental conditioning systems that otherwise would require a distributed signal. As a result of the launch of the patent-pending Integrated Rack, ENGlobal believes that it can provide its clients with an improved process for equipment installation and decrease required maintenance time and expense. ENGlobal expects that its clients' use of the patent-pending Integrated Rack will also result in lower energy consumption, reduction in the need for computer flooring, and better safety conditions. Myron C. Glidewell, P.E., President of ESI, said, "The patent-pending Integrated Rack design system provides an advantageous design that we expect will give ENGlobal recognition in the marketplace and provide a clear differentiator to the fabrication fabrication (fab´rikā´sh n the construction or making of a restoration. techniques used by our competitors." ENGlobal also announced plans to relocate its corporate headquarters and the Houston office of ENGlobal Engineering, Inc. to expanded facilities. The Company has leased the entire fourth floor, 33,759 square feet, in the Bridgewood I building located at 654 North Sam Houston Parkway East, a location near its current north Houston office. This move, expected to occur around July 1, 2005, will provide upgraded facilities and sufficient space to significantly increase ENGlobal's Houston engineering staff. The Company has signed a six-year lease, with options to acquire additional space. Commenting on the office move, William A. Coskey, P.E., President of ENGlobal Corporation, said, "This relocation, which has been planned for some time, is a significant milestone for both our Houston corporate office and our engineering operation. We will benefit by continuing to have a location near Houston's Intercontinental in·ter·con·ti·nen·tal adj. 1. Extending or taking place between or among continents: intercontinental exploration; intercontinental cooperation. 2. Airport, and look forward to an upgraded facility with space available to grow our business." About ENGlobal Corporation ENGlobal Corporation provides engineering services and systems principally to the petroleum refining, petrochemical, pipeline, production, 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 internationally. ENGlobal's multi-disciplinary engineering services group develops projects from the initial planning stage through detailed design, procurement, and construction management. The systems group develops, manufactures, installs, and services control and instrumentation systems utilized in various energy and process-related industries, and provides services and products that support the advanced automation and environmental technology fields. The Company, with its subsidiaries, now employs over 1,400 employees in 12 offices and occupies over 300,000 square feet of office and manufacturing space. In 2004, the Company was named the fastest growing engineering firm in the United States by ZweigWhite. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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, 2004, Form 10-Q's for the quarters ended September 30, 2004, June 30, 2004, and March 31, 2004, current Forms 8-K, and other SEC filings. In addition, the information contained in this press release is also subject to the risk factors identified in the Company's Annual Report on Form 10-K for the year ended December 31, 2004. |
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