FORT WORTH, Texas, June 30, 2017 /PRNewswire/ -- AZZ
Inc. (NYSE: AZZ), a global provider of galvanizing services,
welding solutions, specialty electrical equipment and highly
engineered services to the power generation, transmission,
distribution and industrial markets, announced today that it has
acquired the assets of Enhanced Powder Coating Ltd., ("EPC"), a
privately held, high specification, NADCAP certified provider of
powder coating, plating and anodizing services based in
Gainesville, Texas. EPC, founded
in 2003, offers a full spectrum of finish technology including
powder coating, abrasive blasting and plating for heavy industrial,
transportation, aerospace and light commercial industries. Terms of
the transaction were not disclosed. AZZ anticipates the acquisition
of EPC will be accretive to earnings within the first year of
operation.
Tim Pendley, Senior Vice
President and Chief Operating Officer of AZZ Metal Coatings,
commented, "The acquisition of EPC is a great addition to AZZ and
enhances our position as a metal coatings solutions leader. This
acquisition is consistent with our strategic initiative to grow our
Metal Coatings segment with products and services that complement
our industry-leading galvanizing business. We are pleased to
welcome EPC's employees to AZZ, and look forward to providing our
customers with high quality service, and expanded coatings
technology."
About AZZ Inc.
AZZ Inc. is a global provider of
hot dip galvanizing, welding solutions, specialty electrical
equipment and highly engineered services to the markets of power
generation, transmission, distribution and industrial in protecting
metal and electrical systems used to build and enhance the world's
infrastructure.
AZZ's Metal Coatings segment is a leading provider of metal
finishing solutions for corrosion protection, including hot dip
galvanizing to the North American steel fabrication industry. AZZ's
Energy Segment is dedicated to delivering safe and reliable
transmission of power from generation sources to end customers, and
automated weld overlay solutions for corrosion and erosion
mitigation to critical infrastructure in the energy markets
worldwide.
Safe Harbor Statement
Certain statements herein about our expectations of future
events or results constitute forward-looking statements for
purposes of the safe harbor provisions of The Private Securities
Litigation Reform Act of 1995. You can identify forward-looking
statements by terminology such as, "may," "should," "expects,"
"plans," "anticipates," "believes," "estimates," "predicts,"
"potential," "continue," or the negative of these terms or other
comparable terminology. Such forward-looking statements are based
on currently available competitive, financial and economic data and
management's views and assumptions regarding future events. Such
forward-looking statements are inherently uncertain, and investors
must recognize that actual results may differ from those expressed
or implied in the forward-looking statements. This release may
contain forward-looking statements that involve risks and
uncertainties including, but not limited to, changes in customer
demand and response to products and services offered by AZZ,
including demand by the power generation markets, electrical
transmission and distribution markets, the industrial markets, and
the hot dip galvanizing markets; prices and raw material cost,
including zinc and natural gas which are used in the hot dip
galvanizing process; changes in the political stability and
economic conditions of the various markets that AZZ serves, foreign
and domestic, customer requested delays of shipments, acquisition
opportunities, currency exchange rates, adequacy of financing, and
availability of experienced management and employees to implement
AZZ's growth strategy. AZZ has provided additional
information regarding risks associated with the business in AZZ's
Annual Report on Form 10-K for the fiscal year ended February 28, 2017 and other filings with the SEC,
available for viewing on AZZ's website at www.azz.com and on the
SEC's website at www.sec.gov. You are urged to consider these
factors carefully in evaluating the forward-looking statements
herein and are cautioned not to place undue reliance on such
forward-looking statements, which are qualified in their entirety
by this cautionary statement. These statements are based on
information as of the date hereof and AZZ assumes no obligation to
update any forward-looking statements, whether as a result of new
information, future events, or otherwise.
Contact:
Paul Fehlman, Senior Vice President
–Finance and CFO
AZZ Inc. 817-810-0095
Internet:
www.azz.com
Lytham Partners
602-889-9700
Joe Dorame, Robert Blum or Joe
Diaz
Internet:
www.lythampartners.com
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SOURCE AZZ Inc.