AZZ to rebuild Joliet; outlook improves
Jun 29, 2012 | 05:01 PM
| Chris Prentice
NEW YORK AZZ Inc. plans to spend $20 million to $25 million to rebuild its fire-ravaged Joliet, Ill., hot-dip galvanizing facility and plans to have the plant back online by spring 2013, president and chief executive officer David H. Dingus said Friday.
"We just have cleared the property and are in the process of getting the final contractual work set up," Dingus said during a conference call with investors Friday morning to discuss the companys earnings results for its fiscal first-quarter 2013. "Well commence on that expeditiously. Hopefully, next March or April, we should be up and running."
Despite the issues at Joliet, the Fort Worth, Texas-based company reported revenues of $127.1 million for its quarter ended May 31, an 11.2-percent increase year over year. The company credited the boost to "outstanding" growth in its galvanizing segment, according to a statement Friday. ....
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