ENGlobal recently announced that it has been awarded a
contract for the engineering and design of a hydrodesulfurization unit to be
installed for a major midcontinent refiner. ENGlobal attributed the award of
the contract to its ability to deliver key scheduling benefits and efficient
cost management services. Work on the project began immediately, and the
company expects to complete the project later this year.
Hydrodesulfurization units are essential to reducing the
environmental impact of the use of fuels in automobiles, aircraft, locomotives,
ships, power plants and other forms of fuel combustion. By removing sulfur from
natural gas and refined petroleum products, sulfur dioxide emissions are
minimized and noble metal catalysts used to upgrade octane ratings are better
preserved.
This new contract, as well as the recent announcement of
ENGlobal’s five-year extension agreement with Xcel Energy, continues to
demonstrate the scope and diversity of work performed by the company. This
expertise, along with the company’s history of providing quality engineering
work, has led to ENGlobal’s inclusion among the Top 500 engineering design
firms of Engineering News Record for more than a decade.
The company’s reputation for excellence has led to
significant financial growth in recent years. In 2014, the company recorded
revenue of $107.9 million, marking an increase of 21.1 percent from the
previous year. Similarly, ENGlobal achieved a net income of $6 million in 2014,
outpacing 2013 by $8.3 million and positioning the company for significant
growth opportunities as new energy regulations continue to appear on the
horizon.
“[We] are currently encouraged by the continued level of
spending by our largely midstream and downstream clientele,” stated William
Coskey, Chairman and Chief Executive Officer of ENGlobal. “Having regained our
footing once again, we now expect to explore acquisition opportunities for
external growth.”
With three decades of experience in the automation and
engineering, procurement and construction management (EPCM) industries,
ENGlobal maintains an established presence in the energy industry in markets
all over the world. Look for the company to continue building on the financial
successes of 2014 moving forward, closing in on its vision of becoming the
preferred provider of innovative automation integration services and select
EPCM projects to clients around the globe.
For more information, visit www.englobal.com
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