Valmont Industries, Inc. Acquires Manufacturing Assets of Katana
Summit, LLC
OMAHA, Neb., Nov. 19, 2012 /PRNewswire/ -- Valmont
Industries, Inc. (NYSE: VMI), a leading
global manufacturer of engineered products for infrastructure,
mechanized irrigation equipment for agriculture, and a provider of
coating services, announced today that it has acquired
manufacturing assets of Katana Summit, LLC. The 300,000 sq ft
facility resides on 75 acres of land in Columbus, NE. Valmont intends to repurpose the
facility for manufacture of steel transmission structures for the
utility industry. The specific terms of the acquisition were not
disclosed.
"The addition of the Columbus,
Nebraska facility will immediately provide needed
incremental manufacturing capacity to serve our utility customers.
I expect when modifications are complete in 2014, the plant will
have approximately $100 million in
additional annual capacity," said Earl
Foust, group president of Valmont's Utility Support
Structures division.
Valmont is the global leader in designing and manufacturing
poles, towers and structures for lighting and traffic, wireless
communication and utility markets, industrial access systems,
highway safety barriers and a provider of protective coating
services. Valmont also leads the world in mechanized irrigation
equipment for agriculture, enhancing food production while
conserving and protecting natural water resources. In addition,
Valmont produces a wide variety of tubing for commercial and
industrial applications.
This release contains forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements are based on management's current views and
estimates and are subject to uncertainty and changes in
circumstances. Future economic and market circumstances, industry
conditions, Company performance and financial results, operating
efficiencies, availability and price of raw materials, availability
and market acceptance of new products, product pricing, domestic
and international competitive environment, actions and policy
changes of domestic and international governments and other risks
described from time to time in Valmont's reports to the Securities
and Exchange Commission are examples of factors, among others, that
could cause results to differ materially from those described in
the forward-looking statement. The Company cautions that any
forward-looking statement included in this press release is made as
of the date of this press release and the Company does not
undertake to update any forward-looking statement.
SOURCE Valmont Industries, Inc.