MISTRAS Group, Inc. (MG: NYSE) has provided an update on Project Phoenix, a strategic program aimed at increasing income from operations through reductions in corporate administrative overhead and enhancements to pricing. The company has completed the validation of a majority of the initial Project Phoenix opportunities, including the transformation of the company's Products and Systems' segment. The company expects to yield annualized projected 2024 cost savings of approximately $24 million, of which approximately $9 million is expected to be realized in fiscal 2023. The company also plans to implement strategic price increases which will improve revenue in 2023 by approximately $1 million and are expected to provide an additional $6 million revenue benefit in 2024.