GSE Systems sells process solutions division to NovaTech

Columbia, MD—GSE Systems Inc. (GSE) recently agreed to sell its Process Solutions business to NovaTech LLC (Lenexa,.KS), a provider of SCADA systems, remote monitoring and automation systems for the electric utility and oil and gas industries.

10/03/2003


 

Columbia, MD— GSE Systems Inc. (GSE) recently agreed to sell its Process Solutions business to NovaTech LLC (Lenexa,.KS), a provider of SCADA systems, remote monitoring and automation systems for the electric utility and oil and gas industries. GSE provides real-time simulation and engineering services for the energy, process and military industries.

 

GSE plans to ocus on expanding its simulation technologies in the energy, military and homeland defense markets, as well as continue its nuclear and chemical plant security and process simulation businesses.

 

'The divestiture of the process automation business will enable us to strengthen our financial position. We will eliminate our debt, improve profitability and focus on expanding our core simulation technology,' says Jerry Jen, GSE’s president and COO. 'GSE and NovaTech will continue to work together to bring simulation and security solutions to the process industries.'

 

Aubrey 'Buz' Zey, NovaTech's president adds that, 'We believe the unique combination of communication and automation technologies will bring innovative solutions to the existing customers of both companies and address a larger market space. In addition, the geographic reach of the two businesses allows us to provide increased customer support to our target markets.”

 

Control Engineering Daily News Desk
Jim Montague, news editor
jmontague@reedbusiness.com

 



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