COLUMBIA, Md., Aug. 20 /PRNewswire-FirstCall/ -- GSE Systems, Inc. (GSE)
(Amex: GVP), a leading global provider of real-time simulation and process
control solutions for the energy and process industries, today announced the
award of a major contract from Bethlehem Steel to replace the process
automation system for its Burns Harbor, Indiana plant. The multi-million
dollar contract is part of Bethlehem Steel's effort to modernize its facility
and improve its competitive posture. GSE completed a similar modernization
project for Bethlehem Steel's Sparrows Point plant between 1999 and 2000.
GSE will replace the existing D/3 version 1.7 system originally delivered
over 15 years ago and install the recently released D/3 version 11 software.
The project will involve the replacement of existing process control hardware
with GSE's new PCM 4, a modern PCI based controller.
"Our decision to go with the recently released version 11 software and the
new PCM 4 was based on GSE's ability to deliver significant performance
improvement with greatly reduced life cycle support costs," said Bob Johns,
Burns Harbor's Superintendent of Information Technology.
One of the major benefits to Bethlehem Steel will be the ability to
continue to use a majority of the application software it has generated over
the years.
"The Burns Harbor plant selected our latest technology, D/3 Version 11,
for its robust features such as dynamic, intelligent alarm handling that
allows their plant operators to be substantially more efficient.
Additionally, GSE's pledge not to dead-end our customers as we advance our
technology is allowing Bethlehem Steel to make use of the applications
software already written for the plant over the years and install the upgrade
without affecting production," said Dion Freedman, Vice President of GSE
Process Solutions.
GSE Systems, Inc. is a real-time simulation, process control, and
automation company with three decades of experience, over 500 applications,
and 200 customers in more than 30 countries. Our software, hardware and
integrated solutions leverage proven technologies to deliver real-world
business advantages to the process and power industries worldwide including
specialty chemical, food and beverage, petroleum refining, pharmaceutical, and
fossil and nuclear power generation. GSE Systems is headquartered in Columbia,
Maryland with offices throughout the United States. Our global locations
include offices in Japan and Sweden. Information about GSE Systems is
available via the Internet at http://www.gses.com . Contact Gill Grady at
410-772-3500.
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, 2001 as
filed with the Securities and Exchange Commission.
SOURCE GSE Systems, Inc.
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Related links:
http://www.gses.com
CONTACT:
Gill R. Grady, Senior Vice President of GSE
Systems, Inc., +1-410-772-3500, or general info, Marilynn Meek,
+1-212-445-8451, analyst info, Susan Garland, +1-212-445-8458,
both of FRB Weber Shandwick
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