AZZ incorporated announces intent to acquire Central Electric Company

Central will add approximately $50 million of anticipated revenues to AZZ and the company expects the Central acquisition to be immediately accretive. Based on Central’s existing backlog, AZZ’s cumulative backlog will be more than $100 million and consolidated revenues are expected to exceed $175 million on an annualized basis. The acquisition of Central will provide AZZ with significant cross-selling opportunities to its electrical generation, distribution, and transmission customers, as well as meaningful operating synergies.

BIRMINGHAM, Ala., Sept. 5, 2001 – The 3,000 Alabama Power employees represented by the International Brotherhood of Electrical Workers (IBEW) have ratified a new three-year contract with the electric utility, chief negotiators for both the union and the company announced today.

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