FORT WORTH, Texas, Oct. 8, 2015 /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 the Comision Federal de Electricidad (the Federal Electricity Commission "CFE") to refurbish main steam isolation valves (MSIVs) and reactor recirculation cooling system valves at the Laguna Verde 1 and 2 Nuclear Power Plants. The Laguna Verde Nuclear Power facility is located near Veracruz, Mexico.
Under the terms of the contract, AZZ will provide specialty proprietary technology to execute valve repair services beginning with Laguna Unit 1 during scheduled outages in the fall of 2015 and continuing in the spring of 2016. The total contract award is estimated to be valued at greater than $15 million USD.
Gary Hill, Vice President and General Manager of AZZ WSI, commented, "This award is indicative of AZZ's ability to provide specialty repair solutions to our international customer base, thereby allowing them to extend component lifetimes with high quality and safe performance. We are grateful for the trust that CFE has placed in AZZ for this important project."
About the Federal Electricity Commission
CFE is a company created and owned by the Mexican government. It generates, distributes and markets electric power for almost 36.1 million customers. This figure represents almost 100 million people. The infrastructure to generate electric power is made up of 214 generating plants, having an installed capacity of 52,854 megawatts.
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, 2015 and other filings with the SEC, available for viewing on AZZ's website at http://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 or Robert Blum
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SOURCE AZZ Inc.