FORT WORTH, Texas, April 16, 2019 /PRNewswire/ -- AZZ Inc.
(NYSE: AZZ), a global provider of metal coating services, welding
solutions, specialty electrical equipment and highly engineered
services, today announced it has completed the purchase of
Tennessee Galvanizing Inc., a privately held company, based in
Jasper, Tennessee. Terms of the
transaction were not disclosed. AZZ expects the facility, which
will operate as AZZ Galvanizing – Chattanooga to be accretive to earnings within
the first year of operation.
About Tennessee Galvanizing Inc.
Founded in 1991 Tennessee Galvanizing Inc., located in
Southeast Tennessee, is a leading
regional provider of galvanizing services. The Company
operates four distinct galvanizing lines in its Jasper, Tennessee location, including
centrifuge, rod, conveyor, and traditional hot-dip galvanizing.
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: azz.com
Lytham Partners
602-889-9700
Joe Dorame, Robert Blum or Joe
Diaz
Internet: lythampartners.com
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SOURCE AZZ Inc.