Amsterdam, 9 October 2019 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce the signing of a definitive agreement to acquire the assets of International Specialty Alloys (“ISA”), from Kennametal, Inc.
ISA, located in New Castle, PA, is a leading U.S. producer of titanium master alloys and other binary alloys for the aerospace market.
“The acquisition of ISA provides an excellent opportunity for AMG Titanium Alloys and Coatings (“AMG TAC”) to increase its market position in these key products for the aerospace market in North America and Europe,” stated Mr. Guido Loeber, President of AMG Technologies.
AMG TAC, based in Nuremberg, Germany, is a leading international supplier of titanium master alloys and titanium aluminides to the aerospace industry. AMG TAC is an operating unit of AMG Technologies.
The transaction is expected to close during the fourth quarter of 2019.
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).
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, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal. AMG Technologies produces titanium aluminides and titanium alloys for the aerospace market; designs, engineers, and produces advanced vacuum furnace systems; and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.
With approximately 3,300 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. +1 610 975 4979
Vice President Investor Relations
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