Investor Press Release
Quanex Named to the Best 50 Manufacturing Companies by Industry Week Magazine
HOUSTON, June 7, 2007 (PRIME NEWSWIRE) -- Quanex Corporation (NYSE:NX) today announced that it was named by Industry Week as one of the 50 Best publicly held U.S. Manufacturing Companies. This is the second consecutive year Quanex has been named to the top 50.
Industry Week factors in revenue growth and profit margin over the past three years, with the last year weighted most heavily. Additionally, the last three year's performance in four other financial ratios is considered: inventory turns, asset turnover, return on assets and return on equity. This year's list includes representatives from 18 industries, and includes names such as Cummins, ExxonMobil, Harley Davidson, Nucor Corp., and Paccar.
"Quanex is pleased to be named alongside such elite companies," said Raymond Jean, Quanex chairman and chief executive officer. "Being in the top 50 is a direct result of the excellent job our employees are doing in providing our customers with superior quality, service and value. It speaks to the focus we are placing on staying competitive in a global economy."
Quanex Corporation, with fiscal 2006 sales of $2 billion, is an industry-leading manufacturer of value-added, engineered materials and components serving the vehicular products and building products markets. For further information, visit the Company's website at www.quanex.com.
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Statements that use the words "expect," "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 15, 2006, under the Securities Exchange Act of 1934, in particular the section titled, "Private Securities Litigation Reform Act" contained therein.
CONTACT: Quanex Corporation