ENGlobal (NASDAQ:ENG), on whom this column focuses much attention (and will continue to do so), came out with tidings this week which should make small-cap investors sit up and take notice.
The Houston-based company, which prides itself on being a leading provider of engineered modular solutions, announced Tuesday it has received licenses allowing it to provide important certifications covering the design, fabrication and integration of its internally produced modular equipment buildings.
These licenses, now required for such buildings under a recent regulatory mandate by the Texas Department of Licensing and Regulation, permit ENGlobal to continue to perform in-house production and integration of these buildings and other components, versus having to outsource such work to other licensed suppliers.
This ability, in turn, is expected to help the company perform its projects in a more seamless and efficient manner, and improve scheduling.
Said CEO William Coskey, "We are thrilled to receive these mandated state licenses after a lengthy and in-depth approval process.”
ENG shares ditched 6.4 cents, or 5.3%, to $1.14, Wednesday, on volume of 278,000.
