FORT WORTH, Texas, Jan. 4, 2021 /PRNewswire/ -- AZZ Inc. (NYSE:
AZZ), a global provider of metal coating solutions, welding
solutions, specialty electrical equipment and highly engineered
services, announced today that it has acquired all the assets of
Acme Galvanizing, Inc. ("Acme"), a privately held hot-dip
galvanizing and zinc electroplating company based in Milwaukee, Wisconsin. For more than 100 years,
Acme has been providing quality metal coating services to the
post-fabrication steel market. Terms of the transaction were not
disclosed. AZZ expects the acquisition will be accretive to
earnings within the first year of operation.
Through the acquisition, AZZ adds a well-established successful
metal coatings operation with a diverse customer base, which
operates in an 80,000 square foot facility located in Milwaukee, Wisconsin. Going forward, AZZ
intends to operate the new facility as AZZ Galvanizing and Plating
– Milwaukee, and further extends
AZZ's ability to support customers in the Midwest. The new metal
coatings plant will be integrated into AZZ's existing network of
hot-dip galvanizing plants, increasing its total hot-dip
galvanizing network to 40 sites in North
America.
Bryan L. Stovall, President &
COO of AZZ Metal Coatings, commented, "We are pleased with the
synergistic acquisition of Acme, as we continue to execute our
strategic plan to drive profitable growth and strengthen our
overall Metal Coatings business. With the acquisition of Acme, AZZ
enhances its scope of metal coating services in the Midwest with
the addition of four advanced fully automated zinc plating lines
and a totally enclosed galvanizing kettle. We welcome Acme's
employees and customers to AZZ and look forward to a seamless
integration with uninterrupted customer service."
About Acme Galvanizing, Inc.
Founded in 1919, Acme Galvanizing, Inc., is an industry-leading
provider of state-of-the-art zinc coating processes that include
electroplating and hot dip galvanizing. Acme operates a quality
management system that is ISO 9001-2015 certified.
About AZZ Inc.
AZZ Inc. is a global provider of metal coating solutions,
welding solutions, specialty electrical equipment and highly
engineered services to the markets of power generation,
transmission, distribution and industrial markets. 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 Infrastructure Solutions
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. Certain factors could
affect the outcome of the matters described herein. This press
release may contain forward-looking statements that involve risks
and uncertainties including, but not limited to, changes in
customer demand for our products and services, including demand by
the power generation markets, electrical transmission and
distribution markets, the industrial markets, and the metal
coatings markets. In addition, within each of the markets we
serve, our customers and our operations could potentially be
adversely impacted by the ongoing COVID-19 pandemic. We could
also experience fluctuations in prices and raw material cost,
including zinc and natural gas which are used in the hot dip
galvanizing process; supply-chain vendor delays ; customer
requested delays of our products or services; delays in additional
acquisition opportunities; currency exchange rates; adequacy of
financing; availability of experienced management and employees to
implement AZZ's growth strategy; a downturn in market conditions in
any industry relating to the products we inventory or sell or the
services that we provide; economic volatility or changes in the
political stability in the United
States and other foreign markets in which we operate; acts
of war or terrorism inside the United
States or abroad; and other changes in economic and
financial conditions. 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, 2020 and other filings with the
Securities and Exchange Commission ("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:
David Nark, Senior Vice President of Marketing, Communications, and
Investor Relations
AZZ Inc. 817-810-0095
Internet: 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.