International. Valmont Industries, Inc. recently closed the acquisition of the U.S. Company American Galvanizing Company of Folsom, NJ, a company in the hot dip galvanizing market of the northeastern United States.
The company has been in business for over 30 years and has earned a great reputation for the quality of its work and customer service. It provides corrosion protection services for structural steel and steel manufacturers throughout the Northeast region.
This acquisition expands Valmont's coatings network of 33 facilities in 6 countries around the world. Therefore, the purchase of American Galvanizing Company is a crucial step toward strengthening Valmont's business.
Rick Cornish, president of Valmont's Global Coatings segment, noted that both companies are striving to better serve their customers, supported by Valmont's North American network.
Valmont shares closed about 2.6% higher at $96.45 last Friday.
Valmont is primarily engaged in the production of metal products, concrete and metal pole and tower structures, and mechanized irrigation systems in the U.S. and abroad. In the second quarter of 2015, sales in the company's coatings segment fell by 11% year from the previous year, due to the reduction in mining and industrial activity in Australia. Continued weakness in the Australian industrial economy adversely affected the segment.
