TULSA, Okla., July 23 /PRNewswire-FirstCall/ -- North American
Galvanizing & Coatings, Inc. ("NGA") (Nasdaq: NGA) today
announces that trading in the shares of its common stock (the
"Shares") on the NASDAQ Stock Market ("NASDAQ") will be suspended
effective as of Thursday, July 29,
2010, such that Wednesday, July 28,
2010 will be the last day on which the Shares will trade on
NASDAQ. NGA has previously issued a press release announcing
its intention to strike the Shares from listing and registration on
the NASDAQ, and, on July 19, 2010,
NGA filed a Form 25 with the Securities and Exchange Commission
striking the Shares from listing and registration on the NASDAQ
effective as of July 29, 2010.
NGA has taken 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 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. NGA anticipates that the
Merger will be effective on August 3,
2010. Upon completion of the merger, NGA will no
longer meet the numerical listing requirements of NASDAQ.
NGA anticipates that the Shares will be traded only on the OTC
"grey market" from July 29, 2010
through August 2, 2010, and NGA has
not arranged for the listing and/or registration of its Shares on a
national securities exchange or for quotation of its Shares in a
quotation medium during this time.
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.
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 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.
Contact: Beth B. Pulley Phone: (918) 524-1512
SOURCE North American Galvanizing & Coatings, Inc.