FORT WORTH, Texas, Feb. 17, 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 was
awarded a contract from the China Three Gorges Corporation ("Three
Gorges") to provide six circuits of 550kV 4,000 Amp Gas Insulated
Line ("GIL") for the 10,200MW Wudongde hydroelectric dam project on
the Jinsha River straddling the Yunnan and Sichuan provinces in southwest China.
Under the terms of the contract, AZZ will provide 8,900 meters
of GIL to be installed in two vertical shafts encompassing three
circuits of GIL for each power station on both banks of the Jinsha
River. The contract award is estimated to be valued at greater than
$27 million USD and delivery is
scheduled to begin June 2018.
Bill Estes, Vice President of AZZ
Electrical Systems, commented, "AZZ is very pleased to have been
awarded this contract from Three Gorges to deliver our high voltage
bus system for the Wudongde hydroelectric project. The
decision by Three Gorges to combine the two tender packages into a
single award for both banks of the river is acknowledgement of
AZZ's world leadership in vertical shaft high voltage bus
applications."
About China Three Gorges Corporation
The China Three Gorges Corporation is a Chinese state-owned power
company, established in 1993 to be responsible for construction of
the Three Gorges Dam-project. Three Gorges is now the largest
hydropower developer in the world and has a total controllable
installed capacity base of 64,500MW globally.
About AZZ Inc.
AZZ Inc. is a global provider of galvanizing 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
Galvanizing 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 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 29, 2016 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.