8-K 121806 Westinghouse AP1000 announcement
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of
report (Date of earliest event reported) December 18, 2006
GSE
SYSTEMS, INC.
----------------------
(Exact
name of registrant as specified in its charter)
Delaware 0-26494 52-1868008
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(State
or other
jurisdiction (Commission
File Number) (I.R.S.
Employer
of
incorporation) Identification
No.)
7133
Rutherford Rd., Suite 200, Baltimore, MD 21244
--------------------------------------------------------
(Address
of principal executive office and zip code)
(410)
277-3740
--------------------
Registrant's
telephone number, including area code
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation or the registrant under any of the following
provisions (see General Instructions A.2 below):
[
] Written communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
[
] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[
] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d - 2(b))
[
] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e - 4 (c))
Item
8.01 Other
Events
According
to published reports, Westinghouse Electric Company, LLC (“Westinghouse”) has
been selected to build four new nuclear power plants in the People’s Republic of
China. China’s State Nuclear Power Technology Company (SNPTC) selected
Westinghouse’s AP1000 passive Generation III technology as the basis for the
plants to be built for Sanmen in Zhejiang province and Yangjian in Guangdong
province. Westinghouse is now in the process of negotiating the final contract
details and expects to start implementing the project in 2007.
In
April
2005, GSE Systems, Inc. (“the Company”) announced the details of its agreement
with Westinghouse to cooperate in the development of simulators for the AP1000
design and assist Westinghouse in the verification and validation of the AP1000
Human Machine Interface. The Company’s simulation models have been used to help
Westinghouse successfully complete several phases of Human Machine Interface
testing with US regulators. The agreement further identifies the Company as
Westinghouse’s preferred vendor for future AP1000 plant simulators both
internationally and domestically.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
GSE
SYSTEMS, INC.
Date:
December 18, 2006 /s/
Jeffery G. Hough
-----------------------
Jeffery
G. Hough
Senior
Vice President and Chief Financial Officer