AZZ Awarded Contract in China as part of Highest Transmission Capacity Project in the World
AZZ, Inc. (AZZ) announced on June 29 that the company was awarded a contract in the People’s Republic of China to produce approximately 7,431 meters of Ultra High Voltage 1100KV Gas Insulated Line for the Cross Yangtze River Sutong Underground Tunnel Project. The contract is with SDEE Hitachi High Voltage Switchgear and Pinggao Group Company Limited and is worth around $40 million. The project has the highest voltage level and largest transmission capacity in the world.
Sonal sent an alert to subscribers at 6:30 am, the next trade took place at the market open for $43.03. The stock price spiked to over $50 in the first hour of trading before fading back later in the morning. The stock price closed with a small gain at $43.45, but it continued to push higher during the next five trading sessions. AZZ closed at $54.45 on July 9 for a gain of 26.5%.
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