COLUMBIA, Md., Sept. 14 /PRNewswire/ -- 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 that
it recently received a $6.7 million multi-year contract from Westinghouse
Savannah River Company for its D/3 systems and services.
Under the terms of the contract, over a fiscal three year period, WSRC
will purchase from GSE the latest D/3 hardware, licenses and services
associated with WSRC's Tritium Extraction processes. These systems will
control a new "grass-roots" processing facility at the Savannah River site.
The first phase of the project will be delivered over the next few months, and
later phases will continue throughout 2002 and 2003. GSE has over 45 D/3
systems installed at the Savannah River site.
Mr. Dion Freedman, Vice President of GSE's Process Controls Business Unit,
said: "We continue to be very pleased with the acceptance of D/3 Version 10.2
by the process industries. We believe this contract, along with others
recently received from Miller Brewing, Eastman Chemical, and Cargill, is
indicative of what many of our customers have expressed as continued
satisfaction with the D/3 product and our technical direction."
GSE Systems, Inc. develops and delivers business and technology solutions
by applying process control, 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, and fossil and nuclear power
generation. GSE Systems is headquartered in Columbia, Maryland with offices
in Alabama, Georgia, Louisiana, Maryland, North and South Carolina,
Pennsylvania, and Texas, and its global locations include offices in Japan and
Sweden. Information about GSE Systems is available 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, 2000 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, Marilynn Meek,
+1-212-445-8451, or Analysts, Susan Garland, +1-212-445-8458,
both of The Financial Relations Board BSMG Worldwide
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