AMG Advanced Metallurgical Group N.V. Announces a Memorandum of Understanding for the Long-Term Sale of Lithium Chemicals to Ecopro
Amsterdam, November 16 2018 (Regulated Information) — AMG announces the signing of a memorandum of understanding for the long-term sale of lithium chemicals to Ecopro Co., Republic of Korea, for use in the production of cathode active materials.
Under this agreement, AMG will construct a lithium chemical plant at its mine site in Brazil, the output of which will be supplied to Ecopro for its cathode active materials production.
Dr. Heinz Schimmelbusch, CEO of AMG, said, “This agreement is an excellent example for the vertical integration of value chains, leveraging the know-how of both companies and de-risking the downstream expansion of AMG’s mining operations in Brazil. We are pleased to have found a strategic partner of Ecopro’s superior quality and excellent growth prospects, and look forward to further progressing this important relationship.”
The parties intend to finalize definitive legal agreements no later than February 12th, 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 produces aluminum master alloys and powders, titanium alloys and coatings, ferrovanadium, natural graphite, chromium metal, antimony, tantalum, niobium and silicon metal. AMG Engineering designs and produces vacuum furnace equipment and systems used to produce and upgrade specialty metals and alloys for the transportation, automotive, infrastructure, and energy markets.
With approximately 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, Czech Republic, United States, China, Mexico, Brazil and Sri Lanka, 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
Senior Vice President
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