Global Power Announces Several Initiatives to Reduce Indebtedness and Structure for Profitable Growth

Global Power Equipment Group Inc. ("Global Power") announced that it has undertaken several initiatives to restructure its operations, lower its operating costs and reduce indebtedness.

On July 29, 2016, the Company sold the stock of TOG Holdings, Inc., a wholly-owned subsidiary, for $6 million in cash to Doncasters Group. Part of the Mechanical Solutions Products segment, TOG manufactures fastener and valve-related repair and replacement products for steam and natural gas turbines.  Proceeds from the sale of TOG will go towards reducing indebtedness.

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.