FORT WORTH, Texas, Oct. 15, 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 Yunnan Huaneng Lancang River Hydropower Co., Ltd. to provide two circuits of 550kV 3150A Gas Insulated Line (GIL) for the Huangdeng Hydro Power Plant located in the Yunnan Province of China.
Under the terms of the contract, AZZ will provide 2,000 meters of GIL, a portion of which will be installed in a 200 meter tall vertical shaft. The total contract award is estimated to be $7.5 million USD and delivery of the GIL is scheduled for mid-2017.
Bill Estes, Vice President of AZZ Electrical Systems, commented, "AZZ continues to support the growing power generation needs within China as demonstrated by this award. Our high voltage bus systems provide our customers with higher carrying capacity, versatile routing options and superior reliability and service life in both horizontal and vertical shaft applications. We thank Yunnan Huaneng Lancang River Hydropower for the contract award and look forward to contributing to the successful completion of this critical power infrastructure project."
About Yunnan Huaneng Lancang River Hydropower Co., Ltd.
Yunnan's parent company Huaneng Lancang River Hydropower Co., Ltd is engaged in the development of hydropower projects in China. It has hydropower projects with an installed capacity of over 20 million kilowatts toward its stated 2020 goal of 25 million kW. The company is based in Kunming, China.
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.
Contact:
Paul Fehlman, Senior Vice President –Finance and CFO
AZZ Inc. 817-810-0095
Internet:
www.azz.com
Lytham Partners
602-889-9700
Joe Dorame or Robert Blum
Internet:
www.lythampartners.com
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SOURCE AZZ Inc.
