Investor Press Release
Quanex Reports On Special Shareholders' Meeting
HOUSTON, April 22, 2008 (PRIME NEWSWIRE) -- Quanex Corporation (NYSE:NX), an industry-leading manufacturer of value-added engineered materials and components for the vehicular products and building products markets, announced today that its shareholders have overwhelmingly approved the merger of Quanex with a subsidiary of Gerdau S.A. At the shareholders' meeting today, with approximately 90% of the shares represented, over 99% of the shares were voted for the merger. Closing of the transaction is expected to become effective at 5:05 p.m. Eastern on April 23, 2008.
The Quanex Corporation logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=1117
Statements that use the words "expect," "should," "believe," "will," "might," or similar words reflecting future expectations or beliefs are forward-looking statements. The statements found 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 (December 14, 2007) under the Securities Exchange Act of 1934, in particular the section titled, "Private Securities Litigation Reform Act" contained therein.
For additional information, visit the Company's website at www.quanex.com.
CONTACT: Quanex Corporation