COLUMBIA, Md., Oct. 22 /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 a major
contract award from Archer Daniels Midland (ADM) to purchase upgrades for all
of ADM's 24 D/3 systems worldwide. The contract includes worldwide FACETS
support and maintenance services and software licenses to upgrade all of ADM's
D/3 systems. ADM is also purchasing GSE's newly developed and cost effective
server and console hardware, process controller upgrade hardware and
engineering support services to upgrade each of their D/3 installations over
the next 6 - 9 months. The value of the orders received to date exceeds
$2.8 million, with additional orders anticipated over the next 12 months.
Bob Wetter, ADM's Director of Information Systems stated: "From a process
manufacturing perspective, ADM has become much more globally minded as we now
apply technologies that will allow us to achieve our business goals, not just
production goals. The new and improved version 10.2 D/3 System with features
like OPC and VPTV will help us to make this happen."
GSE's Vice President for the Process Business Unit, Dion Freedman said:
"In the past, ADM has typically been very self-sufficient in the process
automation area. We see the change as part of ADM's commitment to become a
more inter-networked organization, taking advantage of the features of Version
10.2 to integrate plants and improve their business operations on a global
basis."
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, analyst info, Susan Garland, +1-212-445-8458,
both of FRB Weber Shandwick
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