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"Not only does this acquisition represent two more operations for our network of plants, but opens up another strategic geographic area that has the potential for additional growth and expansion. Their rich heritage of providing a superior level of service and support to their customers complements our existing facilities. Certainly, the pride and integrity with which it has been operated is consistent with the philosophy and methodology that AZZ employs in our current operations. We anticipate that it will be accretive in the first year of operation, and should add in the range of $6 to $8 million in annualized revenues. We appreciate the opportunity to continue the proud tradition of customer service that has been sustained by the current ownership. The senior operating management team has agreed to join AZZ and will report to our regional offices in Cincinnati, Ohio effective August 1, 2009," stated David H. Dingus, president and chief executive officer of AZZ incorporated.
Pilot Galvanizing was originally founded in 1987 in Poca, West Virginia and expanded into the Virginia market with the opening of the Bristol facility in 2001.
AZZ incorporated is a specialty electrical equipment manufacturer serving the global markets of power generation, transmission and distribution and industrial, as well as, a leading provider of hot dip galvanizing services to the steel fabrication market nationwide.
Except for the statements of historical fact, this release may contain forward-looking statements that involve risks and uncertainties some of which are detailed from time to time in documents filed by the Company with the SEC. Those risks and uncertainties include, but are not limited to: changes in customer demand and response to products and services offered by the company, including demand by the electrical power generation markets, electrical transmission and distribution markets, the industrial markets, and the hot dip galvanizing markets; prices and raw material costs, including zinc and natural gas which are used in the hot dip galvanizing process; changes in the economic conditions of the various markets the Company serves, foreign and domestic, customer requested delays of shipments, acquisition opportunities, currency exchange rates, adequacy of financing, and availability of experienced management employees to implement the Company's growth strategy. The Company can give no assurance that such forward-looking statements will prove to be correct. We undertake no obligation to affirm, publicly update or revise any forward-looking statements, whether as a result of information, future events or otherwise.
SOURCE AZZ incorporated
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