Ameron acquires Hope Composites.PASADENA, Calif.--(BUSINESS WIRE)--April 20, 1998--Ameron International Corporation (NYSE NYSE See: New York Stock Exchange :AMN Amn abbr. airman ) announced today that it has acquired Hope Composites 2000, Inc., a privately-owned manufacturer of fiberglass pipe and fittings in Atlanta, Georgia. Hope Composites specializes in large-diameter polyester and vinylester pipe used in a variety of industrial markets, including power generation, pulp and paper, wastewater treatment, chemical processing, flue gas desulfurization Flue gas desulfurization (FGD) is the current state-of-the art technology used for removing sulfur dioxide (SO2) from the exhaust flue gases in power plants that burn coal or oil to produce steam for the steam turbines that drive their electricity generators. , and fume fume Occupational medicine A solid suspension resulting from condensation of the products of combustion. See Inhalant Vox populi verbTo be in the midst of a mental mini-meltdown. and odor control. "This is a start-up business with impressive technology and valuable manufacturing know-how," said James S. Marlen, Ameron chairman, president and chief executive officer. "This acquisition complements Ameron's existing fiberglass composite pipe product line and provides us a springboard into new applications and markets." Ameron's worldwide fiberglass pipe business operates two other manufacturing plants in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , as well as plants in The Netherlands, Singapore and Malaysia. Ameron's fiberglass pipe sales in fiscal 1997 were $102 million. Ameron reported record earnings of $4.73 per share on record sales of $534 million for its 1997 fiscal year. In addition to fiberglass pipe, the company is also a leading producer of protective coatings, concrete and steel pipe systems and other specialized construction products. Ameron operates businesses in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Latin America, Europe and Australasia. CONTACT: Ameron International Corporation, Pasadena Gary Wagner, Senior Vice President, Chief Financial Officer and Dan Stracner, Vice President, Public Affairs, 626/683-4000 |
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