U.S. markets closed

Featured Company News - ENGlobal Announces an Agreement with Coggins International; Views Fuel Supply Chain Advancement

LONDON, UK / ACCESSWIRE / June 28, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for ENGlobal Corp. (NASDAQ: ENG), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=ENG. ENGlobal Government Services, Inc., a wholly-owned subsidiary of ENGlobal Corp., announced on June 26, 2017, that it has entered into a Strategic Alliance Agreement with Coggins International Corporation, a market leading firm, in automation, training, IT and cyber security services. This agreement enhances a complete set of skills for both Companies in the areas of fuel supply chain automation, along with IT systems for global US defense applications. For immediate access to our complimentary reports, including today's coverage, register for free now at: http://protraderdaily.com/register/

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ENG. Go directly to your stock of interest and access today's free coverage at: http://protraderdaily.com/optin/?symbol=ENG.

The Announcement

The combined expertise from ENGlobal, which excels in design, installation, and maintenance of Automated Fuel Handling Equipment, Automated Tank Gauges, and CyberSecurity, will complement Coggins' complete systems engineering and integration services for enterprise-based Supervisory Control and Data Acquisition Systems and Cyber security. Each Company holds in its own right a long and respected history in supporting the US Army with fuel supply chain related services. William A. Coskey, P.E., CEO of ENGlobal, stated that:

"We greatly look forward to working with our new alliance partner on our important mission in supporting the US Military fueling systems."

The Complementary Ventures

Both Coggins and ENGlobal, owing to their extensive history, will grow into a successful alliance, according to ENGLobal, where it views working opportunities through the new alliance partner to support the US military fueling systems. Coggins International expects the new alliance to broaden its Turnkey Automation and Technology Solutions capabilities for advanced solutions delivery. The existing synergies between the two organizations are highly advantageous for Defense SCADA and Automation applications, developed on a rich history of a long collaboration.


ENGlobal currently operates through two business segments: Engineering and Automation services primarily to the energy sector throughout the United States and internationally. While the Automation segment provides services related to design, fabrication, and implementation of distributed control, instrumentation, and process analytical systems. The Engineering segment delivers consulting services for the development, management, and execution of projects, which requires professional engineering, construction management, and related support services.

The ENGlobal Government Services, Inc., operates under the Company's Engineering segment, hence delivering engineering, design, installation, operations, and maintenance of various government, public sector, and international facilities, specializing in turnkey automation and instrumentation systems, specifically for the US Defense industry, across the world.

The Biomass Power Project

On March 02, 2016, ENGlobal announced that it is being awarded the Basic Engineering and Design for a world-class biomass power plant located in Europe. The planned installation, post completion, will be among the ten largest biomass facilities across the world. According to the initial scope of work, the agreement was valued at about $2 million and would be led by the Company's Denver, Colorado engineering office.

The plant will have a power generation capacity of 300MW and will incorporate multiple gasification boiler systems to produce steam for use in turbine generators. The eco-friendly design also met all the applicable environmental standards and featured extensive use of waste thermal energy through efficient recycling processes, and eventually will help assist with EU carbon reduction objectives.

Last Close Stock Review

On Tuesday, June 27, 2017, ENGlobal's stock closed the trading session at $1.29, jumping 11.21% from its previous closing price of $1.16. A total volume of 98.92 thousand shares were exchanged during the session, which was above the 3-month average volume of 45.62 thousand shares. The Company's share advanced 9.32% in the previous twelve months. The stock currently has a market cap of $34.68 million.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.


The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst, for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.


PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.


This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.


For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily