Market Overview

Global Power Equipment Group Announces Management Appointments

  • Tara Garcia Appointed Vice President, Marketing & Sales Force Effectiveness
  • Gary R. McCloskey Appointed Vice President, Manufacturing/Supply Chain and Procurement

IRVING, Texas, Nov. 8, 2013 (GLOBE NEWSWIRE) -- Global Power Equipment Group Inc. (Nasdaq: GLPW) ("Global Power") announced today that Tara Garcia has been appointed Vice President, Marketing & Sales Force Effectiveness and that Gary R. McCloskey has joined the organization as Vice President, Manufacturing/Supply Chain and Procurement.

Luis Manuel Ramírez, President and Chief Executive Officer of Global Power, commented, "We have created a leadership team both in our operations and in our corporate offices that is focused on our goal to grow revenue and profits. Tara has established herself as an effective leader within the Company. She is now responsible for driving transparency across all of our businesses while maximizing the effectiveness of our brands. Gary's significant experience complements our culture of innovation and change. He is well qualified to lead our process improvement initiatives and identify margin expansion opportunities within our realigned organization through a more sophisticated supply chain management process."

Ms. Garcia joined Global Power in February 2013 as Global Commercial Excellence Director. Tara has over 15 years of experience in engineering design and sales & marketing excellence supporting the chemical and housing industries. She was most recently with NCH Corporation, LSP Products since 2008 where she held a variety of positions with increasing leadership responsibility, including Director of Marketing & Sales Planning. Prior to that, she was with Celanese Chemical since 1997 in a variety of positions including Order Management Leader and Business Analysis Manager.

Mr. McCloskey brings over 28 years of experience in a broad array of functional areas to the Global Power executive team. His experience includes sourcing, supply chain, project management, product management, sales, marketing, commercial operations and engineering. He was with GE's industrial business since 1985, serving in a variety of capacities with progressively increasing leadership responsibility, most recently as GM – North America P&L Industrial Solutions.

About Global Power

Texas-based Global Power Equipment Group Inc. is a design, engineering and manufacturing firm providing a broad array of equipment and services to the global power infrastructure, energy and process industries. Through its Services Division, Nuclear Services provides on-site specialty support, outage management and maintenance services to domestic utilities' nuclear power facilities; and Energy Services provides lifecycle maintenance and repair support services for the industrial, oil & gas and utilities markets. With over 40 years of power generation industry experience the Products Division designs, engineers and manufactures a comprehensive portfolio of equipment for utility scale natural gas turbines and electrical solutions for the oil & gas industry and other industrial operations. The Company routinely provides information at its website:

Forward-looking Statement Disclaimer

This press release contains "forward-looking statements" within the meaning of that term set forth in the Private Securities Litigation Reform Act of 1995. These statements reflect our current views of future events and financial performance and are subject to a number of risks and uncertainties. Our actual results, performance or achievements may differ materially from those expressed or implied in the forward-looking statements. Risks and uncertainties that could cause or contribute to such material differences include, but are not limited to, decreased demand for new gas turbine power plants, reduced demand for, or increased regulation of, nuclear power, loss of any of our major customers, cost increases and project cost overruns, unforeseen schedule delays, poor performance by our subcontractors, cancellation of projects, competition for the sale of our products and services, shortages in, or increases in prices for, energy and materials such as steel that we use to manufacture our products, damage to our reputation, warranty or product liability claims, increased exposure to environmental or other liabilities, failure to comply with various laws and regulations, failure to attract and retain highly-qualified personnel, loss of customer relationships with critical personnel, effective integration of acquisitions, modification of preliminary 2014 outlook, volatility of our stock price, deterioration or uncertainty of credit markets, and changes in the economic, social and political conditions in the United States and other countries in which we operate, including fluctuations in foreign currency exchange rates, the banking environment or monetary policy. Other important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in our filings with the Securities and Exchange Commission, including the section of our Annual Report on Form 10-K filed with the SEC on March 7, 2013 titled "Risk Factors." Except as may be required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, and we caution you not to rely upon them unduly.

CONTACT: Investor Relations Contact: Deborah K. Pawlowski Kei Advisors LLC (716) 843-3908

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