AZZ to acquire DAAM Galvanizing
Mar. 01, 2022 8:05 AM ETAZZ Inc. (AZZ)By: Meghavi Singh, SA News Editor
- AZZ (NYSE:AZZ) has entered into an agreement to acquire DAAM Galvanizing, a privately held hot-dip galvanizing company based in Edmonton, Alberta Canada.
- Terms of the transaction were not disclosed.
- The company expects the deal will be accretive to earnings within the first year of operation.
- Pursuant to the deal, AZZ will add Western Canada's most trusted provider of hot-dip galvanizing services to its well-established and successful metal coatings operation.
- Pursuant to the closure, AZZ intends to operate the new facilities as AZZ Galvanizing Edmonton and AZZ Galvanizing Saskatoon, and make further investments in Calgary to extend AZZ's ability to support customers in Central and Western Canada.
- The new metal coatings plants will be integrated into AZZ's existing network of hot-dip galvanizing plants, increasing its total hot-dip galvanizing network to 42 sites in North America.