COLUMBIA, Md., April 23 /PRNewswire/ -- GSE Systems, Inc. (Amex: GVP), a
leading global provider of real-time simulation and process control solutions
to the energy, process and manufacturing industries, today announced that GSE
has completed the acquisition of BatchCAD Limited, a United Kingdom based
supplier of batch process development and design consulting services and
simulation software tools. Specific terms of the agreement have not been
disclosed.
BatchCAD provides simulation-based solutions that enable chemical, food,
and pharmaceutical companies to not only achieve faster times to market, but
also enable more product ideas to reach the full manufacturing stage. The
BatchCAD software tools and services will become a part of an open yet
integrated suite targeted at streamlining a customer's entire product
life-cycle using high fidelity, dynamic simulation as a core business support
tool.
"The BatchCAD team has already been successful in achieving significant
product life-cycle improvements for customers," said Christopher M. Carnavos,
President GSE Systems Inc. "The integration of BatchCAD's capabilities with
GSE's suite of dynamic simulation and real-time control is a natural outcome
of our commitment to continually better serve the batch process market.
BatchCAD is the first of a series of planned acquisitions to strengthen our
core business."
GSE Systems, Inc. develops and delivers business and technology solutions
by applying process control, data acquisition and simulation software, systems
and services to the energy, process and manufacturing industries worldwide.
The Company's products are used in the following industries: specialty
chemical, food and beverage, petroleum refining, pharmaceutical, fossil and
nuclear power generation, metals and water treatment. GSE Systems is
headquartered in Columbia, Maryland with offices in Georgia, Louisiana,
Maryland, North and South Carolina, Pennsylvania, and Texas, and its global
locations include offices in Belgium, Japan, Korea, Singapore, Sweden, Taiwan,
and United Kingdom. Information about GSE Systems is available via the
Internet's World Wide Web at http://www.gses.com. Information about BatchCAD
Limited is available via GSE Systems Web site or via the Internet's World Wide
Web at http://www.gses.com.
This news release contains forward-looking statements that involve risks
and uncertainties. The actual future results of GSE Systems may differ
materially due to a number of factors, including but not limited to delays in
introduction of products or enhancements, size and timing of individual
orders, rapid technological changes, market acceptance of new products and
competition. These and other factors are more fully discussed in the
Company's annual report on Form 10-K for the year ended December 31, 1998 as
filed with the Securities and Exchange Commission.
To receive additional information on GSE Systems, Inc., via fax at no
charge, dial 1-800-PRO-INFO and enter ticker symbol GVP.
SOURCE GSE Systems, Inc.
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Related links:
http://www.gses.com
CONTACT:
Brian K. Southern, Senior Vice President of
GSE Systems, 443-436-7500; or general info, Doug DeLieto, media
info, Marty Gitlin, or analyst info, Elisa Mailman, of the
Financial Relations Board, 212-661-8030
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