Global Power Equipment Group Inc. Awarded Contract With Siemens
Global Power Equipment Group Inc. (Nasdaq: GLPW) ("Global Power") today announced that its Braden operating division has been awarded a contract to provide gas turbine exhaust systems to Siemens Energy for the Khormala Phase I Combined Cycle Power Plant located in the Northern Kurdistan area of Iraq.
Under the contract Braden will provide four complete gas turbine exhaust systems including diverter dampers. The contract value is estimated at approximately 8 million Euros and will be executed and delivered by Braden's European division which is located in Heerlen, The Netherlands. Product components are expected to ship in late 2012 and early 2013.
"We are looking forward to working with Siemens on providing exhaust equipment for this new gas-fired power plant," said Dean Glover, President of Global Power's Products division. "We are excited to add these four new systems to our already large installed base of equipment in Iraq. Our truly global supply chain allows us to be the supplier of choice for projects in diverse locations around the world."
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