Amsterdam, 21 February 2018 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that AMG Vanadium has signed a long-term multi-year agreement, with an existing customer, to process and recycle spent catalysts from a major oil refinery in North America.
In order to meet increasing demand from both existing and new customers, AMG has approved the expansion of its spent catalyst recycling operations. The total investment is estimated at $35 million and will primarily involve the installation of a new flue gas desulfurization unit at AMG Vanadium’s facility in Cambridge, Ohio. AMG expects to complete the expansion by the end of 2019 and once completed, AMG Vanadium’s spent catalyst recycling capacity will increase by approximately 30%. The expansion is subject to environmental permitting, which is expected to be completed in the third quarter 2018.
“As the largest producer of ferrovanadium in North America, the expansion will solidify our existing market position and enable AMG Vanadium to better meet our customers’ future requirements”, said Mr. Hoy Frakes, President of AMG Vanadium. “In addition, the expansion of our spent catalyst recycling operations in Cambridge, Ohio, will allow AMG Vanadium to continue to provide our partners with an industry-leading environmental solution for their spent catalyst recycling needs as their requirements grow”.
Located in Cambridge, Ohio, AMG Vanadium specializes in the environmentally beneficial conversion of oil refinery and power plant waste products into ferrovanadium, nickel and molybdenum primarily used by global steel producers in automotive, energy transmission and infrastructure applications. By using materials that would otherwise be discarded as waste, AMG Vanadium encourages environmental stewardship, energy conservation and resource recovery.
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).
About AMG
AMG is a global critical materials company at the forefront of CO2 reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.
AMG Critical Materials produces aluminum master alloys and powders, titanium alloys and coatings, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal. AMG Engineering designs, engineers, and produces advanced vacuum furnace systems and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.
With approximately 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the Czech Republic, the United States, China, Mexico, Brazil, India, Sri Lanka and Mozambique, and has sales and customer service offices in Russia and Japan (www.amg-nv.com).
For further information, please contact:
AMG Advanced Metallurgical Group N.V. +1 610 293 5804
Steve Daniels
Senior Vice President
sdaniels@amg-nv.com
Disclaimer
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