Tuesday September 12, 7:31 am Eastern Time
Press Release
SOURCE: AZZ incorporated
AZZ incorporated Awarded Contracts Totaling $6 Million From Major Global Energy Company
AZZ Subsidiary Provides Solutions to Transmit New Electrical Capacity
CROWLEY, Texas, Sept. 12 /PRNewswire/ -- AZZ incorporated, (NYSE: AZZ - news), a leading provider of power generation, transmission and distribution solutions to the global electric utility industry, and a provider of galvanizing services nationwide, announced today that its CGIT Westboro, Inc. subsidiary has received two separate contracts from a major global energy company headquartered in the United States for power transmission solutions totaling $6 million. CGIT Westboro's gas-insulated bus duct solutions will transmit electricity from two new power plants that will be operational in the near future, to the appropriate access points on the power transmission grid in their respective areas.
The rolling brown-outs and power shortages experienced across the United States during the summer of 2000, evidence the need for additional electrical generating capacity to meet growing demand. Construction of new power plants is currently at a very high level; and applications for plant construction approvals from the Federal Energy Regulatory Commission (FERC) continue to increase. As new power plants come on line, transmission of this additional electrical capacity on to the national power grid, for use by industrial and residential customers, in the most timely and cost-efficient manner will be one of the most critical issues to address. CGIT Westboro solutions provide a timely, cost-efficient and environmentally friendly alternative to conventional cable systems and overhead lines for power transmission.
David H. Dingus, president and chief operating officer of AZZ incorporated, commented, ``We are pleased to provide solutions, and to work hand in hand, with one of the' leading global energy companies. The gas-insulated bus duct technology that we will install, will allow our client to provide power to the grid, and to their customers, in the safest and most efficient manner possible; and in one case, a full year before overhead cable lines could have been modified.''
Mr. Dingus continued, ``A critical issue is the timely and efficient transmission of electrical power to the existing transmission grid from the new plants that are currently under construction, and those that will come on-line in the future. AZZ incorporated, through its subsidiary company, CGIT Westboro, provides the technology solutions to address these critical needs. We look forward to the opportunities ahead.''
In the case of both contracts, CGIT Westboro, Inc will provide a complete turnkey installation of the bus duct systems, including other support equipment, field testing and commissioning. While these contracts extend into 2001, they are anticipated to have a favorable financial impact on the current fiscal year.
AZZ incorporated, formerly Aztec Manufacturing Co. is a specialty electrical equipment manufacturer serving the global growth markets of power generation, transmission and distribution, as well as, a leading provider of hot dip galvanizing services to the steel fabrication market nationwide.
SOURCE: AZZ incorporated
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