FORT WORTH, Texas, April 25, 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 Beijing Sino-American Yuli Power Technology
Co. Ltd to provide two circuits of 500kV 4,000 Amp Gas Insulated
Line ("GIL") for the Dalian Xinghai Bay Nanyan Loop IV Transmission
Line located under the city of Dalian on the Northeast coast of China.
Under the terms of the contract, AZZ will provide 11,500 meters
of GIL to be installed in a tunnel running under the city center to
minimize disruptions. The contract award is estimated to be
valued at greater than $15 million
USD and delivery is scheduled to begin June 2017. In addition to the 11,500 meters
of GIL, the world's largest urban grid GIL contract calls for AZZ
to provide the following:
- Three vertical shafts to accommodate variances in terrain;
- AZZ technology solution to address thermal expansion inherent
in such a long GIL run;
- Online monitoring of SF6 gas;
- Online partial discharge ("PD"); and
- Installation supervision.
Bill Estes, Vice President of AZZ
Electrical Systems, commented, "We are extremely pleased to have
been awarded this contract from Beijing Sino-American Yuli Power
Technology Company to deliver our proven high voltage bus system
for this critical power project in the city of Dalian. AZZ's innovative solutions and
services are well suited for the challenging engineering and design
parameters of providing an underground GIL run that will be located
under a working city. We believe this application is the
first of its kind in the world and we look forward to similar
opportunities globally."
About Beijing Sino-American Yuli Power Technology Company
Ltd.
The Sino-American Yuli Power Technology Company is a
prominent electrical engineering company with the engineering,
procurement and construction (EPC) responsibility for the Dalian
Xinghai Bay underground GIL project. The company has
constructed a series of successes in northern China and the northeast China region.
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 28, 2017 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.