TULSA, Okla., June 30, 2010 (GLOBE NEWSWIRE) -- North American Galvanizing & Coatings, Inc. ("NGA") (Nasdaq:NGA) today announces its intention to strike the shares of its common stock from listing and registration on the NASDAQ Stock Market ("NASDAQ"). NGA intends to take this action in connection with the anticipated merger of Big Kettle Merger Sub, Inc. ("Merger Sub"), an indirect wholly-owned subsidiary of AZZ incorporated ("AZZ") (NYSE:AZZ), with and into NGA pursuant to the Agreement and Plan of Merger among NGA, Merger Sub and AZZ dated March 31, 2010. Due to the number of shares of NGA common stock owned by Merger Sub, the requisite approval of the merger by NGA's stockholders is assured, and NGA intends to consummate the merger as soon as possible pursuant to applicable law. Upon completion of the merger, NGA will no longer meet the numerical listing requirements of NASDAQ. NGA has not arranged for the listing and/or registration of its shares on another national securities exchange or for quotation of its shares in a quotation medium.
About North American Galvanizing & Coatings, Inc. (Nasdaq:NGA)
North American Galvanizing & Coatings, Inc. is a leading provider of corrosion protection for iron and steel components fabricated by its customers. NGA's galvanizing and coating operations are composed of eleven facilities located in Colorado, Kentucky, Missouri, Ohio, Oklahoma, Tennessee, Texas and West Virginia. These facilities operate galvanizing kettles ranging in length from 16 feet to 62 feet and have lifting capacities ranging from 12,000 pounds to 40,000 pounds. For more information about NGA, visit www.nagalv.com.
About AZZ incorporated (NYSE:AZZ)
AZZ incorporated is a specialty electrical equipment manufacturer serving the global markets of industrial, power generation, transmission and distributions, as well as a leading provider of hot dip galvanizing services to the steel fabrication market.
Safe Harbor Statement
Certain statements contained in this press release about our expectations of future events or results constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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. In addition, certain factors could affect the outcome of the matters described in this press release. These factors include, but are not limited to, (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, (2) the outcome of any legal proceedings that may be instituted against us or others following the announcement of the merger agreement, (3) risks that the proposed transaction disrupts current plans and operations, and (4) the costs, fees and expenses related to the transaction. NGA has provided additional information regarding risks associated with the business in NGA's Annual Report on Form 10-K for 2009 as well as other filings with the SEC, available for viewing on NGA's website at www.nagalv.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 of this press release and NGA assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.