AZZ incorporated Completes Acquisition of Nuclear Logistics Inc.
AZZ incorporated (“AZZ”) (NYSE: AZZ), a manufacturer of electrical products and a provider of galvanizing services, announced on June 1 the successful completion of substantially all of the assets of Nuclear Logistics Inc. (“NLI”), a Fort Worth, TX based provider of electrical and mechanical equipment and services for enhancing the safety of nuclear facilities. NLI will be an indirect wholly-owned subsidiary of AZZ.
For the first full year under AZZ, NLI revenues are expected to be in the range of $70 to $80 million. AZZ expects the acquisition to be accretive to FY 2013 EPS by $0.20 to $0.25, which will include the expected acquisition costs and the amortization of intangible assets, including NLI’s acquired backlog of approximately $75 million. The acquisition of NLI and the strategic impact on the Electrical and Industrial Products Segment will be discussed in detail at the next quarterly conference call tentatively scheduled for June 28, 2012.
For more information, visit www.azz.com.