Investor Press Release
Quanex Announces the Sale of Its Temroc Metals Business
HOUSTON, Jan. 30, 2006 (PRIMEZONE) -- Quanex Corporation (NYSE:NX), an industry-leading manufacturer of value-added engineered materials and components serving the vehicular products and building products markets, announced today that it sold its Temroc Metals, Inc. business to WXP Holdings, Inc., a leading provider of custom, value-added aluminum extrusion products and alloyed aluminum billet. WXP Holdings is a portfolio company of H.I.G. Capital. Terms were not disclosed. Temroc, with about 125 employees, is located in Hamel, Minnesota.
Statements that use the words "expects," "should," "may," "could," "will," "might," or similar words reflecting future expectations or beliefs are forward-looking statements. The statements above are based on Quanex's 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 of December 21, 2005, under the Securities Exchange Act of 1934, in particular the sections titled, "Private Securities Litigation Reform Act" contained therein. Additional information about Quanex is available at the Company's website at www.quanex.com.
The Quanex Corporation logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=1117.
CONTACT: Quanex Corporation