GSE Systems Establishes Joint Venture with Electrobalt Holding; Shares Edge Up From Near Yr Lows

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GSE Systems, Inc. ( GVP ) has entered into an agreement with Electrobalt Holding of St. Petersburg, Russia to establish a jointly-owned company, General Simulation Engineering RUS LLC. Electrobalt is a manufacturer of electrical distribution and switching equipment in Russia.

The JV will leverage Electrobalt's industry position to introduce and jointly develop GVP's simulation-based engineering, training and education solutions to the broad spectrum of the Russian energy industry, including non-nuclear power generation, oil & gas, chemical, and electrical transmission and distribution.

Shares are up 1 cent at $1.60, but still near the 52-week low of $1.55.



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This article appears in: Investing , Commodities

Referenced Stocks: GVP

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