FORT WORTH, Texas, June 30, 2014 /PRNewswire/ -- AZZ
incorporated (NYSE:AZZ), a global provider of electrical products
and highly engineered services and a provider of galvanizing
services in North America, today
announced that it has successfully completed a transaction to
acquire substantially all of the assets of Zalk Steel & Supply
Co., a Minneapolis,
Minnesota-based galvanizing company that has served its
customers in the upper Midwest of the
United States since 1955. The acquisition of Zalk Steel
& Supply, a small-kettle niche provider of galvanizing
services, brings to 36 the number of galvanizing plants in the
Galvanizing Services Segment of AZZ, and further enhances AZZ's
position as the market leader in the North American galvanizing
industry.
Tom Ferguson, president and chief
executive officer of AZZ incorporated, said "We are extremely
pleased to make this strategic acquisition that allows us to expand
our network of galvanizers and broadens our service capabilities in
the Midwestern U.S. with yet another successful operating plant.
Operated with pride and integrity since its founding in 1955, Zalk
Steel & Supply has a rich heritage of providing a superior
level of service and support to their customers. That pride
and integrity is consistent with the philosophy and methodology
that AZZ employs in our current operations and we look forward to
building on this proud tradition of customer service and quality.
We anticipate that the acquisition of Zalk will be accretive within
the first year of operation."
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.
Paul Fehlman, Senior Vice
President – Finance and CFO
AZZ incorporated 817-810-0095
Internet: www.azz.com
Lytham Partners 602-889-9700
Joe Dorame, Joe Diaz or Robert
Blum
Internet: www.lythampartners.com
SOURCE AZZ incorporated