COLUMBIA, Md., Oct. 16 /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 announced today that
Bayernoil Raffineriegesellschaft mbH has contracted GSE to simulate the
Fluidized Catalytic Cracking (FCC) Process at their refinery in Vohburg,
Germany.
This project will upgrade the software and hardware technology used in the
original GSE provided simulator, which has been in continuous operation since
its procurement in mid 1992. The new simulator will use GSE's SimSuite Pro, a
complete process simulation software tool. The FCC process is one of the most
critical and profitable processes in the oil refinery. Having proficient
operators for this process has always been a key objective of Bayernoil. The
simulator will be housed at Bayernoil's Vohburg Site Training Facility.
Jerry Jen, President and Chief Operating Offer of GSE Systems, said, "We
are very happy that Bayernoil has decided to use SimSuite Pro to upgrade their
simulator. We believe their choice of GSE signifies the company's
satisfaction with the previous simulator we built for them. It is also a
recognition of GSE's additional investment for improving technology which
provides numerous enhancements to make for a more effective training
simulator."
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 info, Marilynn Meek,
+1-212-445-8451, or analyst info, Susan Garland, +1-212-445-8458,
both of The Financial Relations Board Weber Shandwick
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