Investor Press Release
Quanex Announces Agreement to Acquire Temroc Metals, Inc.
HOUSTON, Oct. 27 /PRNewswire/ -- Quanex Corporation (NYSE: NX) announced today that it has signed an agreement and plan of merger with Temroc Metals, Inc., an aluminum extrusion and fabrication company based in Hamel, Minnesota. Consummation of the sale is subject to customary approvals and is expected to close within 30 days.
Vernon E. Oechsle, chairman and CEO of Quanex commented, "We are very pleased to welcome the dedicated employees of Temroc Metals to the Quanex family. Their extensive aluminum extrusion capabilities will contribute significantly to the strategic growth of our Fabricated Products division in supplying quality, engineered products at a competitive price to our customers."
Temroc Metals is a leading producer of customized aluminum extruded and fabricated products for diverse markets, such as outdoor recreation, building and construction, medical and energy. The acquisition will expand the product offerings of Quanex's Engineered Products Group, which include leading producers of roll-formed metal and impact -- extrusions for the building and construction, transportation, defense, and other industries.
Quanex is a technological leader in the production of value-added
engineered steel bars, aluminum flat-rolled products, and engineered, formed-
metal products. The Company's stock is listed on the New York Stock Exchange
under the symbol NX. For more information, call or visit the company's web
site at www.quanex.com.
SOURCE Quanex Corporation
Web site: http: //www.quanex.com
Photo: http: //www.newscom.com/cgi-bin/prnh/19990517/NXLOGO PR Newswire Photo Desk, 888-776-6555 or 201-369-3467
CONTACT: media, Marianne Gooch, 713-877-5389, or financial, Jeff Galow, 713-877-5327, both of Quanex Corporation
CAPTION: NXLOGO QUANEX CORPORATION LOGO Quanex Corporation logo. (PRNewsFoto)[HD] HOUSTON, TX USA 05/17/1999