Investor Press Release
Nichols Aluminum Becomes an Associate Member of NAAD
HOUSTON, Aug. 1 /PRNewswire/ -- Quanex Corporation (NYSE: NX), announced today that its Nichols Aluminum segment has been accepted as an associate member of the National Association of Aluminum Distributors (NAAD), effective July 2001.
The NAAD is a trade association of North American service centers and distributors engaged in the marketing of aluminum mill products. This is a key channel of distribution for the aluminum industry as the percentage of sales through service centers has steadily increased and is expected to continue.
"As part of our ongoing quality improvement programs, Nichols has successfully increased the sales volume of both mill-finished and pre-painted product to meet the membership requirements of NAAD," said Terry Schroeder, president of Nichols Aluminum. "Other flat rolled associate members include; Alcan, Alcoa and Commonwealth Industries. However, Nichols is unique in that 100% of its product is being produced using a continuous cast process."
Schroeder explained that it took a focused team effort from operations, technical and sales to realize this milestone. Membership will allow Nichols Aluminum to participate in the NAAD's regional chapters and thereby partner with distributor sales representatives to find new applications for their products.
Through its Nichols Aluminum division, Quanex operates an aluminum mini-mill in Iowa and rolling mills in Illinois, Alabama, and Iowa, as well as Nichols Aluminum Golden, a specialized aluminum sheet casting and finishing plant in Colorado. Quanex is a technological leader in the production of value-added engineered steel bars; aluminum flat-rolled products; and engineered, formed-metal products for customers in the transportation and housing markets.
Statements that use the words "expect," "should," "will," "might," or similar words reflecting future expectations or beliefs are forward-looking statements. The statements above are based on current expectations. Actual results or events may differ materially from this release. Factors that could impact future results may include, without limitation, the effect of both domestic and global economic conditions, the impact of competitive products and pricing, and the availability and cost of raw materials. For a more complete discussion of factors that may affect the Company's future performance, please refer to the Company's most recent 10-K filing (January 5, 2001) under the Securities Exchange Act of 1934, in particular the sections titled, "Private Securities Litigation Reform Act" contained therein.
For further information visit the companies websites at www.nicholsal.com and www.quanex.com .
Contact: financial, Jeff Galow, +1-713-877-5327, or media, Valerie Calvert, +1-713-877-5305, both of Quanex Corporation.
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SOURCE Quanex Corporation
Web site: http: //www.nicholsal.com http://www.quanex.com
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CONTACT: financial, Jeff Galow, +1-713-877-5327, or media, Valerie Calvert, +1-713-877-5305, both of Quanex Corporation
CAPTION: NXLOGO QUANEX CORPORATION LOGO Quanex Corporation logo. (PRNewsFoto)[HD] HOUSTON, TX USA 05/17/1999