/PRNewswire-FirstCall/ -- North American Galvanizing & Coatings, Inc. ("NGA") (Nasdaq: NGA) today announces that trading in the shares of its common stock (the "Shares") on the NASDAQ Stock Market ("NASDAQ") will be suspended effective as of
Thursday, July 29, 2010
, such that
Wednesday, July 28, 2010
will be the last day on which the Shares will trade on NASDAQ. NGA has previously issued a press release announcing its intention to strike the Shares from listing and registration on the NASDAQ, and, on
July 19, 2010
, NGA filed a Form 25 with the Securities and Exchange Commission striking the Shares from listing and registration on the NASDAQ effective as of
July 29, 2010
. NGA has taken this action in connection with the anticipated merger of Big Kettle Merger Sub, Inc. ("Merger Sub"), an indirect wholly-owned subsidiary of AZZ incorporated ("AZZ") (NYSE: AZZ), with and into NGA pursuant to the Agreement and Plan of Merger among NGA, Merger Sub and AZZ dated
March 31, 2010
. Due to the number of Shares owned by Merger Sub, the requisite approval of the merger by NGA's stockholders is assured, and NGA intends to consummate the merger as soon as possible pursuant to applicable law. NGA anticipates that the Merger will be effective on
August 3, 2010
. Upon completion of the merger, NGA will no longer meet the numerical listing requirements of NASDAQ.
NGA anticipates that the Shares will be traded only on the OTC "grey market" from
July 29, 2010
August 2, 2010
, and NGA has not arranged for the listing and/or registration of its Shares on a national securities exchange or for quotation of its Shares in a quotation medium during this time.
About North American Galvanizing & Coatings, Inc. (NASDAQ: NGA)
North American Galvanizing & Coatings, Inc. is a leading provider of corrosion protection for iron and steel components fabricated by its customers. NGA's galvanizing and coating operations are composed of eleven facilities located in
About AZZ incorporated (NYSE: AZZ)
AZZ incorporated is a specialty electrical equipment manufacturer serving the global markets of industrial, power generation, transmission and distributions, as well as a leading provider of hot dip galvanizing services to the steel fabrication market.