Global Power Equipment Group Awarded $4M Order by Dongfang Electric
Global Power Equipment Group Inc. (Nasdaq: GLPW) ("Global Power") announced today that it was awarded an order for intake systems for the two unit Gaoantun Powerplant located near Beijing, China. The approximately $4 million order (25 million renminbi) was awarded by Dongfang Electric Corporation, headquartered in Chengdu, China, a licensed manufacturer of the Mitsubshi 701F turbine for the Chinese market. Global Power will design and manufacture intake systems, including filter elements, for two 'F' class turbines.
Dean Glover, President of the Products Division of Global Power, commented, "This order further solidifies our global leadership position in emerging markets, and represents the broadening of our customer base beyond our core OEM customers, a key tenet in our organic growth strategy. We believe that as the Chinese market continues to invest in its gas powered infrastructure, Global Power is well positioned to support that growth. Demonstrating the strength of our global operations, our associates in Europe and the U.S. will be collaborating to fulfill this project." Deliveries are scheduled for late 2013 and early 2014.