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25.04.2017 12:35
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AZZ Inc. Announces Contract Award from Beijing Sino-American Yuli Power Technology for Underground 500kV Gas Insulated Line in The People's Republic of China
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PR Newswire
FORT WORTH, Texas, April 25, 2017
FORT WORTH, Texas, April 25, 2017 /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 Beijing Sino-American Yuli Power Technology Co. Ltd to provide two circuits of 500kV 4,000 Amp Gas Insulated Line ("GIL") for the Dalian Xinghai Bay Nanyan Loop IV Transmission Line located under the city of Dalian on the Northeast coast of China.
Under the terms of the contract, AZZ will provide 11,500 meters of GIL to be installed in a tunnel running under the city center to minimize disruptions. The contract award is estimated to be valued at greater than $15 million USD and delivery is scheduled to begin June 2017. In addition to the 11,500 meters of GIL, the world's largest urban grid GIL contract calls for AZZ to provide the following:
- Three vertical shafts to accommodate variances in terrain;
- AZZ technology solution to address thermal expansion inherent in such a long GIL run;
- Online monitoring of SF6 gas;
- Online partial discharge ("PD"); and
- Installation supervision.
Bill Estes, Vice President of AZZ Electrical Systems, commented, "We are extremely pleased to have been awarded this contract from Beijing Sino-American Yuli Power Technology Company to deliver our proven high voltage bus system for this critical power project in the city of Dalian. AZZ's innovative solutions and services are well suited for the challenging engineering and design parameters of providing an underground GIL run that will be located under a working city. We believe this application is the first of its kind in the world and we look forward to similar opportunities globally."
About Beijing Sino-American Yuli Power Technology Company Ltd.
The Sino-American Yuli Power Technology Company is a prominent electrical engineering company with the engineering, procurement and construction (EPC) responsibility for the Dalian Xinghai Bay underground GIL project. The company has constructed a series of successes in northern China and the northeast China region.
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, 2017 and other filings with the SEC, available for viewing on AZZ's website at 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, Robert Blum or Joe Diaz
Internet:
www.lythampartners.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/azz-inc-announces-contract-award-from-beijing-sino-american-yuli-power-technology-for-underground-500kv-gas-insulated-line-in-the-peoples-republic-of-china-300444936.html
SOURCE AZZ Inc.
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