Strategic Acquisition Expands AZZ's Powder Coating and Plating Operations to Eight Locations in the Dallas-Fort Worth Area
Fort Worth, TX /PRNewswire/ - AZZ Inc. (NYSE: AZZ), a global provider of metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services, announced today that it has acquired all the assets of Preferred Industries, Ltd., ("Preferred"), a privately held powder coating company in the Dallas-Fort Worth area. Preferred provides powder and e-coating services to the automotive, HVAC, marine, transportation, medical, industrial, and plastics industries. Terms of the transaction were not disclosed. AZZ expects the acquisition will be accretive to earnings within the first year of operation.
Through the acquisition, AZZ gains the powder and e-coating operations as well as employees of Preferred, which operates a 155,000 square foot facility in Terrell, and an 89,600 square foot facility in Rowlett, Texas. Going forward, AZZ intends to operate the facilities as AZZ Surface Technologies – Terrell, and AZZ Surface Technologies - Rowlett, and will integrate them with six existing powder coating and plating operations the company operates in the area.
Michael Doucet, Senior Vice President of AZZ Surface Technologies commented, "We are pleased with the acquisition of Preferred Industries, as we continue to execute on our strategic plan to broaden our service offerings and expand our network of Surface Technology plants. AZZ now operates eight coating and plating operations in the Dallas-Fort Worth area. We welcome Preferred Industries' employees and customers to AZZ and look forward to a seamless integration."
About Preferred Industries Ltd.
Founded in 1980, Preferred Powder Coating has been committed to excellence in quality, turnaround time, and customer value for 35 years. An ISO 9001:2008 registered company with locations in Rowlett and Terrell, Texas, Preferred's vision is to be the recognized leader in powder coating and industrial wet paint services in the Dallas-Fort Worth Metroplex. The company's services include powder coating, spray painting, e-coating, mil-spec, and coating removal.
About AZZ Inc.
AZZ Inc. is a global provider of metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services to the markets of power generation, transmission, distribution and industrial markets. AZZ Metal Coatings is a leading provider of metal finishing solutions for corrosion protect customers, and automated weld overlay solutions for corrosion and erosion mitigation to critical infrastructure in the energy markets worldwide.on, 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
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