FORT WORTH, Texas,
June 29, 2018 /PRNewswire/ -- AZZ
Inc. (NYSE:AZZ), a global provider of metal coating services,
welding solutions, specialty electrical equipment and highly
engineered services, today announced that it was awarded contracts
from SDEE Hitachi High Voltage Switchgear and Pinggao Group Company
Limited to produce approximately 7,431 meters of Ultra High Voltage
1100KV Gas Insulated Line for the Cross Yangtze River Sutong
Underground Tunnel Project. This project has the highest
voltage level, and largest transmission capacity in the
world.
Under the terms of the contracts, AZZ will provide
7,431 meters of GIL to be installed in a
tunnel running under the Yangtze River, at the greatest depth and
highest water pressure for a tunnel in China. The total value
of both contract awards is estimated to be valued at greater than
$40 million USD and delivery is
scheduled to begin late 2018.
Ken Lavelle, President of
AZZ Electrical Systems, commented, "We are extremely proud to have
been chosen as a partner to deliver the ultra-high voltage bus
system for this critical power application in the
Yangtze River Delta Region, a large economic hub of
the People's Republic of
China. AZZ has a proven and successful track record in
delivering innovative solutions and services for critical high
voltage bus systems. We believe this application is the first
of its kind in the world and a significant step in the development
of gas insulated line technology."
About Pinggao Group Co.,
Ltd
Pinggao Group Co., Ltd ("PG") is a wholly-owned subsidiary
corporation of China Electric Power Equipment and Technology Co.,
Ltd., located in Pingdingshan City, Henan
Province, China. PG,
firstly named as Pingdingshan High Voltage Switchgear Factory
established in 1970, is the largest base of researching, developing
and manufacturing high voltage, extra-high voltage and ultra-high
voltage switchgears in China, also
is the important technical equipment pillar enterprise in the state
electrical industry. It is the first hi-tech company of high
voltage switchgear industry certificated by Chinese Academy of
Sciences and Ministry of Science; Technology and has been listed
among Chinese top 10 electrical corporations. PG at present employs
a staff of 7,695, among which more than 800 are
engineers.
About SDEE Hitachi High Voltage
Switchgear
SDEE Hitachi High-Voltage Switchgear Co., Ltd. is a
Sino-Japanese joint venture company located in China's Shandong province with major shares held by
SDEE, a subsidiary of State Grid Corporation of China. The company provides Ultra High Voltage
GIS, and many other types of GIS, with capacities ranging from
110KV to 1,100KV.
About AZZ Inc.
AZZ Inc. is a global provider of metal coating services, 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
Metal Coatings is a leading provider of metal finishing solutions
for corrosion protection, including hot dip galvanizing to the
North American steel fabrication industry. AZZ Energy 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 metal coatings 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,
2018 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.