FORT WORTH, Texas, June 25, 2014 /PRNewswire/ -- AZZ
incorporated (NYSE: AZZ) ("AZZ") today announced that it has
terminated the employment of Ashok
Kolady as Senior Vice President and Chief Operating Officer,
Energy Segment, effective immediately. Mr. Tom Ferguson, President and Chief Executive
Officer of AZZ, will assume responsibility for the management of
the day to day operations of the Energy Segment through the
remainder of AZZ's current fiscal year. AZZ's management team and
the Board of Directors will subsequently evaluate appointing
another individual to serve as Senior Vice President of this
Segment.
Tom Ferguson, President and Chief
Executive Officer of AZZ, said "We are making an executive
leadership change in our Energy Segment. I thank Ashok for
the past 7 years of service to the company, and I believe he has
contributed significantly to what AZZ has become, and wish him well
in his future endeavors."
"My desire is to grow the Energy Segment and its platforms more
aggressively," Mr. Ferguson continued. "Given the relevance
of my past experience to this segment, I am excited about the
opportunity to get more personally involved in our Energy Segment
platforms and to lead, coach and mentor this leadership team.
My intent is to focus on the build-out of a world class sales
organization, accelerating the international expansion programs,
and increasing the emphasis on innovation and development. I
believe strongly we have a great company full of dedicated,
hard-working people that have the potential to take our business to
another level and create even more opportunities for growth and
personal development."
AZZ incorporated is a global provider of specialty electrical
equipment and highly engineered services to the power generation,
transmission, distribution, and industrial markets as well as a
leading provider of hot dip galvanizing services to the North
American steel fabrication market.
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 economic conditions of the
various markets that AZZ serves, foreign and domestic, customer
request delays of shipments, acquisition opportunities, currency
exchange rates, adequacy of financing, and availability of
experienced management 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,
2014 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:
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Paul Fehlman, Senior
Vice President – Finance and CFO
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AZZ incorporated
817-810-0095
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Internet:
www.azz.com
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Lytham Partners
602-889-9700
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Joe Dorame or Robert
Blum
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SOURCE AZZ incorporated