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EXHIBIT 20
(ii) New Directors
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AZZ incorporated Names Two New
Directors to Board
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For Immediate Release
Contact: Dana Perry, Vice President - Finance and CFO
AZZ incorporated, 817-297-4361
RCG Capital Markets Group, Inc. 480-675-0400
Retail: Jim Estrada, Brett Maas
Institutional/Analysts: Joe Dorame
Media: Jeff Stanlis
(August 22, 2000) - CROWLEY, Texas: AZZ incorporated, (NYSE-AZZ), formerly
Aztec Manufacturing, announced today the election of two new directors to the
Company's Board of Directors effective with the regularly scheduled meeting of
September 19, 2000. Mr. Daniel E. Berce and Mr. Daniel R. Feehan were elected to
the Board of Directors, at the regularly scheduled meeting of the Board on
August 15, 2000.
Mr. Berce, 46, has been Vice Chairman and Chief Financial Officer of
AmeriCredit, Corp. since 1996 and was Executive Vice President, Chief Financial
Officer from November 1994 until November 1996. He also served as Vice
President, CFO and Treasurer beginning in May of 1990. He has been a director of
AmeriCredit Corp. since 1990. AmeriCredit, Corp. (NYSE-ACF) is a national
consumer finance company specializing in purchasing, securitizing and servicing
of automobile loans. The company is headquartered in Fort Worth, Texas. Prior to
joining AmeriCredit, he was a partner with Coopers & Lybrand for four years and
was with the firm for fourteen years. Mr. Berce is a CPA.
Mr. Daniel R. Feehan, 49, is President and CEO of Cash America International,
Inc., (NYSE-PWN) a diversified specialty finance company serving the needs of
the self-banked segment of the population. Prior to his appointment in February
2000 as CEO, he was President and COO since January 1990. He has been a director
of Cash America since 1984. Before joining the Company in 1988, Mr. Feehan was
President of Greer Capital Corporation, a real estate development firm. He began
his career with Arthur Young & Company after graduating from Texas A&M
University.
"This marks another important milestone in the growth and expansion of our
company," said Mr. L.C. Martin, Chairman and CEO. "The experience with
management of public corporations, knowledge and insights of the financial
markets, and extensive operating experience will add greatly to the overall
direction of the Company. It is indeed a pleasure to welcome them, and we look
forward to the assistance they can provide."
Mr. William Walker, will be resigning from the Board effective with the
September 19, 2000 meeting. Mr. Walker had previously announced that he would
resign upon the selection of and election of new Directors. Mr. Walker has
served as a board member since 1986, and will continue to serve the Company as
an Advisory Director.
AZZ incorporated, formerly Aztec Manufacturing, Co., is a specialty electrical
equipment manufacturer serving the global growth markets of power generation,
transmission and distribution, as well as a leading provider of hot dip
galvanizing services to the steel fabrication market nationwide.
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Except for the statements of historical fact, this release may contain "forward-
looking statements" that involve risks and uncertainties that are detailed from
time to time in documents filed by the Company with the SEC. Those risks,
uncertainties, and factors include, but are not limited to: change in demand,
prices and raw material cost, including zinc which is used in the hot dip
galvanizing process; changes in the economic conditions of the various markets
the Company serves, foreign and domestic, including the market price for oil and
natural gas; acquisition opportunities, adequacy of financing, and availability
of experienced management employees to implement the Company's growth strategy;
and customer demand and response to products and services offered by the
Company. The Company can give no assurance that such expectations will prove to
be correct.
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