AMG Advanced Metallurgical Group N.V. Announces the Formation of the Management Board of AMG Technologies
Amsterdam, 31 December 2018 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that Guido Löber has been named Chairman of the Management Board of AMG Technologies. This position will be in addition to his current responsibilities as President of AMG Titanium Alloys. He will be joined on the Management Board by Markus Holz, who will continue to act as the President of AMG Engineering, as well as by Steve Daniels, who will act as the CFO of AMG Technologies.
As previously announced, AMG’s new operating division, AMG Technologies, will be a reportable segment replacing AMG Engineering.
Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, “Beginning with the AMG IPO in 2007, we stressed the importance of combining engineering and operations know-how in order to accelerate innovations in advanced metallurgy. In a major step early on we offered novel vacuum heat treatment technologies not only as a supplier of furnaces but also as a heat treatment service to our automotive customers. Subsequent to that development, AMG Titanium Alloys achieved a major break-through in new aerospace engine materials based on the combination of vacuum furnace engineering and operations know-how, commercializing titanium aluminide as well as titanium aluminide powder for additive manufacturing. This project and others have increased the cooperation between Hanau and Nuremberg, the corporate centers of AMG Engineering and AMG Titanium Alloys, respectively. We predict that the combination of these two entities under one management team will deliver substantial value for our customers and for all AMG stakeholders.”
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 5814
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.