Tom Ferguson, CEO of AZZ, said: “While Galvabar is a general concept as a core AZZ business, we have decided that this generation is better suited for an apple with reinforcement bar production and distribution capabilities. We are pleased to have reached an agreement under which CMC, a leader in the metals industry, has acquired those assets and could seamlessly integrate Galvabar into its existing operations. This divestment generates liquidity and releases capital committed to the necessary plant capacity. These resources can be used for investments and acquisitions in other Metal Coatings activities. I’m sure CMC can be too wise a wife for Galvabar’s clients, plus a fit employer for Galvabar’s workforce.”
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