Amsterdam, 28 November 2018 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that effective 1 January 2019, the Company will change its organizational structure. This change will result in two new strategic operating divisions, AMG Technologies and AMG Critical Materials.
AMG’s new operating division, AMG Technologies, will be comprised of AMG’s existing Engineering and Titanium Alloys businesses and will be a reportable segment replacing AMG Engineering. AMG Critical Materials will consist of seven operating units, namely Vanadium, Superalloys, Tantalum & Lithium, Graphite, Silicon, Aluminum and Antimony.
Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, “AMG Technologies brings together two industry leaders primarily serving the aerospace market, by combining AMG Engineering’s expertise in metallurgical process design & development and AMG Titanium Alloys’ industry-leading expertise in the development of metallurgical products, furnace operations, and quality assurance processes. In metallurgy, combining engineering and operational knowhow accelerates innovation.”
Segment reporting will be adjusted as per 1 January 2019. AMG’s proforma segmental information for AMG Technologies and AMG Critical Materials for 2018 is shown below:
|Current Segmental Financial Data|
|($000’s)||Q1 2018||Q2 2018||Q3 2018|
|AMG Critical Materials||AMG Engineering||Total||AMG Critical Materials||AMG Engineering||Total||AMG Critical Materials||AMG Engineering||Total|
|New Segmental Financial Data (Pro Forma)|
|($000’s)||Q1 2018||Q2 2018||Q3 2018|
|AMG Critical Materials||AMG Technologies||Total||AMG Critical Materials||AMG Technologies||Total||AMG Critical Materials||AMG Technologies||Total|
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, 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 3,300 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. +1 610 293 5804
Senior Vice President
Certain statements in this press release are not historical facts and are “forward looking”. Forward looking statements include statements concerning AMG’s plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG’s competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG’s business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words “expects,” “believes,” “anticipates,” “plans,” “may,” “will,” “should,” and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward looking statements will not be achieved. These forward looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statement contained herein to reflect any change in AMG’s expectations with regard thereto or any change in events, conditions, or circumstances on which any forward looking statement is based.