Global Power Announces Joint Venture with Bechtel

10/29/17

IRVING, Texas--(BUSINESS WIRE)--Global Power Equipment Group Inc. (OTC:GLPW)  announced that its wholly-owned subsidiary, Williams Industrial Services Group, LLC through its subsidiary Williams Plant Services, LLC (“Williams”), has formed a joint venture with Bechtel to establish Richmond County Constructors LLC (RCC”). RCC will operate as construction subcontractor to Bechtel, who has been selected as the prime construction contractor for the Plant Vogtle Units 3 & 4 nuclear expansion project in Georgia. RCC will provide construction craft labor and supervision for the project. Williams is a 25% member in the joint venture.

Loren Monty, President of Global Power’s Services segment, commented, “This joint venture has expanded Williams’ scope of work at Vogtle 3 & 4. This also positions us to win potential additional work at Vogtle 3 & 4 outside of the joint venture. Overall, we expect that this project will improve Williams’ financial performance and strengthen our ability to pursue more opportunities in energy and industrial markets.”

Craig Holmes and Tracy Pagliara, Co-Presidents and Co-CEOs of the Company further commented, “We are excited that Williams will be participating in the significant construction projects at Vogtle 3 & 4. This will help the Company as we continue to work through operating performance and liquidity challenges in our businesses.”

About Global Power

Global Power is a design, engineering and manufacturing firm providing a broad array of equipment and services to the global energy and industrial markets. The Company reports in two operating segments. The Services segment provides lifecycle maintenance, repair, on-site specialty support, outage management, construction and fabrication services for the power generation, industrial, chemical/petrochemical processing and oil and gas industries. The Electrical Solutions segment provides custom-configured electrical houses and generator enclosures for a variety of industries.

The Company provides information at its website: www.globalpower.com.

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