FORT WORTH, Texas, July 12, 2016 /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 second contract from Sanmen Nuclear Power Company ("SNPC") to provide two circuits of 550kV 3,150Amp Gas Insulated Line ("GIL") for the Sanmen Nuclear Power Plant located in the Zhejiang Province of China.
Under the terms of the contract, AZZ will provide 5,130 meters of GIL for phase two of the Sanmen Nuclear Power Plant. The contract award is estimated to be valued at greater than $11 million USD and delivery is scheduled to begin in mid-2018.
Bill Estes, Vice President of AZZ Electrical Systems, commented, "We are extremely pleased to have been awarded a second contract from Sanmen Nuclear Power Company to deliver our high voltage bus system for this critical power infrastructure project. Our collaboration on Phase 1 of this project has been very successful. We look forward to extending our ongoing working relationship with SNPC and its majority stakeholder, China National Nuclear Power Company ("CNNC") in this important market."
About Sanmen Nuclear Power Company, Ltd.
Sanmen Nuclear Power Co., Ltd. is a subsidiary of China National Nuclear Power Co., Ltd. CNNC holds a 51% stake in SMNPC. The Sanmen Nuclear Power Plant is the first AP1000 nuclear power plant in the world with phase one planned capacity of 2,500 MW. An additional 2,500 MW of capacity is planned for phase two.
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.
Paul Fehlman, Senior Vice President –Finance and CFO
AZZ Inc. 817-810-0095
Joe Dorame, Robert Blum or Joe Diaz
SOURCE AZZ Inc.