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| PRESS RELEASE |
| 2008 |
| Valmont Acquires |
| U.K. Based Stainton Metal Company, Ltd |
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Omaha,
NE - Valmont Industries, Inc. (NYSE: VMI), a leading global
manufacturer of engineered support structures for infrastructure,
mechanized irrigation equipment for agriculture, and a provider
of coating services and tubular products, announced today
that it has acquired Stainton Metal Company Ltd, a leading
U.K. manufacturer of street lighting poles.
Stainton
Metal Company brings 30 years of experience supplying local
authorities and lighting contractors with a wide range of
lighting support structures. The United Kingdom based company
also manufactures a wide range of support structures for high
mast and flood lighting, the tramway, electrical distribution
and wind energy industries, as well as having a structures
testing business trading under the name of Rei-lux UK.
The
company has enjoyed solid growth over the last few years increasing
its annual sales to over $20 million, while at the same time
investing to increase its manufacturing and painting capacity.
Victor Grizzle, President of Valmont’s International division,
added: “Stainton Metal brings a broad range of high quality
products, a strong management team, and long-standing customer
relationships. Stainton is an industry leader in the UK market.
They offer a solid platform to serve the UK customers with
the total global capabilities of Valmont. We are very pleased
to have the Stainton Metal team join the Valmont family.
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Phil
Plackett, Managing Director of Stainton Metal, said: “The
entire team at Stainton Metal are very excited to join forces
with Valmont. Valmont’s vast worldwide experience, resource
and expertise will allow us to take advantage of opportunities
that we previously thought were unattainable. We know that
Valmont will encourage us to continue to invest and implement
our ambitious growth plan over the next five years, and we
look forward to the additional market opportunities that Valmont’s
products will allow us in the UK .”
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Valmont
is the global leader in designing and manufacturing poles,
towers and structures for lighting and traffic, wireless communication
and utility markets, and a provider of protective coating
services. Valmont also leads the world in mechanized irrigation
equipment for agriculture, enhancing food production while
conserving and protecting natural water resources. In addition,
Valmont produces a wide variety of tubing for commercial and
industrial applications.
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This
release contains forward-looking statements, within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on assumptions that management
has made in light of experience in the industries in which
Valmont operates, as well as management’s perceptions of historical
trends, current conditions, expected future developments and
other factors believed to be appropriate under the circumstances.
As you read and consider this release, you should understand
that these statements are not guarantees of performance or
results. They involve risks, uncertainties (some of which
are beyond Valmont’s control) and assumptions.
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Although management
believes that these forward-looking statements are based on
reasonable assumptions, you should be aware that many factors
could affect Valmont’s actual financial results and cause
them to differ materially from those anticipated in the forward-looking
statements. These factors include among other things, risk
factors described from time to time in Valmont’s reports to
the Securities and Exchange Commission, as well as future
economic and market circumstances, industry conditions, company
performance and financial results, operating efficiencies,
availability and price of raw material, availability and market
acceptance of new products, product pricing, domestic and
international competitive environments, and actions and policy
changes of domestic and foreign governments. The Company cautions
that any forward-looking statement included in this press
release is made as of the date of this press release and the
Company does not undertake to update any forward-looking statement.
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