Fort Worth, Texas-based AZZ incorporated, a manufacturer of electrical products and a provider of galvanizing services, announced Wednesday that it acquired G3 Galvanizing, a galvanizing operation in Halifax, Nova Scotia on January 2, 2013. This acquisition is part of the AZZ strategy to continue the geographic expansion of its served markets that should provide a basis for continued growth of the Galvanizing Services Segment of AZZ.
"G3, while relatively small in terms of production and revenue, has a rich heritage of providing superior level of service and support to the customers in Canadian Maritimes. Operated with pride and integrity since its founding, this very successful operation will complement our existing network of North American plants. Existing operating management has agreed to remain with the company and the acquisition is anticipated to be accretive in the first year of operation," AZZ said in a statement.
AZZ also reported Wednesday that net income for Q3 was $15.4 million, compared to income of $10 million in last year fiscal Q3. For the nine-month period, the company reported net income of $47.2 million, up from $29.1 million in the comparable period of last year.