AZZ Inc. Announces Acquisition of NuZinc, LLC to Expand Metal Coating Services
Strategic Acquisition Expands AZZ's Powder Coating and Plating Operations to Six Locations in the Dallas-Fort Worth Area
FORT WORTH, Texas, Aug. 26, 2019 /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 NuZinc, LLC, ("NuZinc"), a privately held plating company in the Dallas-Fort Worth area. NuZinc provides electroplating services to the markets of aerospace, defense, telecommunications, medical, transportation and commercial industries. 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 gains the plating operations and employees of NuZinc, which operates in a 29,000 square foot facility in Garland, Texas. Going forward, AZZ intends to operate the facility as AZZ Powder Coating and Plating – Garland, and will integrate it with existing powder coating and plating operations the company operates in the area.
Michael Doucet, Senior Vice President of AZZ Surface Technologies commented, "We are pleased to welcome NuZinc's employees to AZZ and look forward to a seamless integration while providing customers with expanded services through our growing network of surface technology plants. With the addition of NuZinc, AZZ now operates six powder coating and plating operations in the Dallas-Fort Worth area. This acquisition adds value and expands our scope of services for customers throughout North America."
About NuZinc LLC.
NuZinc, LLC based in Garland, Texas, is a plating company committed to performance excellence and total customer satisfaction. Founded in 1993, the company is a certified women-owned business that provides ISO 9001:2015 certified and RoHS compliant plating processes for customers in aerospace, defense, telecommunications, medical, transportation, and commercial industries.
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 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 metal coatings 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, 2019 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: azz.com
Lytham Partners
602-889-9700
Joe Dorame, Robert Blum or Joe Diaz
Internet:
www.lythampartners.com
SOURCE AZZ Inc.
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