AMG business unit celebrates 100 year anniversary
Amsterdam, 31 August 2011 — AMG Advanced Metallurgical Group N.V., (“AMG”, EURONEXT AMSTERDAM: “AMG”) announces that GfE Gesellschaft für Elektrometallurgie mbH (“GfE”), part of AMG’s Advanced Materials Division, is celebrating its 100 year anniversary in September 2011. GfE is a global producer of specialty alloys for titanium and superalloys, coating materials and vanadium chemicals for the aerospace, energy and specialty metals end markets.
AMG’s Advanced Materials unit traces its origins back to the development and production of specialty metals to 1911, when GfE was founded as a producer of vanadium alloys and chemicals in Nürnberg, Germany. From its origins in metallurgy and material science, GfE has evolved over time to become a leading producer of custom master alloys and coatings serving the aerospace, energy and special metals industries on a global scale.
GfE has always been focused on using and creating world’s most advanced metallurgical technologies. GfE began as one of the first operators of electric arc furnaces in the early 1900s, evolving to become a producer of vanadium chemicals from secondary sources, and today is a developer of sputtering targets, arc cathodes and other specialty alloys materials for the some of the world’s most advanced solar thin film and aerospace technologies. Throughout its history, GfE has focused on metallurgical innovation as an essential component of new product development and was therefore able to reinvent itself several times. GfE’s materials are highly engineered products designed to meet the needs of today’s high stress operating environments.
Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, “AMG is proud of GfE’s achievements. Through innovation and a commitment to developing advanced metallurgical solutions for challenging markets, GfE has reached a 100 year milestone. We recognize all of the people who have contributed to GfE’s success and we look forward to its second century of growth and innovation.”
AMG creates and applies innovative metallurgical solutions to the global trend of sustainable development of natural resources and CO2 reduction. AMG produces highly engineered specialty metal products and advanced vacuum furnace systems for the Energy, Aerospace, Infrastructure and Specialty Metals and Chemicals end markets. AMG consists of two operating divisions, Advanced Materials and Engineering Systems, and owns interests in publicly-listed companies Graphit Kropfmühl AG (Deutsche Börse: GKR.DE) and Timminco Limited (TSX: “TIM”).
The Advanced Materials Division develops and produces specialty metals, alloys and high performance materials. AMG is a significant producer of specialty metals, such as ferrovanadium, ferronickel-molybdenum, aluminum master alloys and additives, chromium metal and ferrotitanium, for Energy, Aerospace, Infrastructure and Specialty Metal and Chemicals applications. Other key products include specialty alloys for titanium and superalloys, coating materials, tantalum and niobium oxides, vanadium chemicals and antimony trioxide.
The Engineering Systems Division designs, engineers and produces advanced vacuum furnace systems and operates vacuum heat treatment facilities, primarily for the Aerospace and Energy (including solar and nuclear) industries. Furnace systems produced by AMG include vacuum remelting, solar silicon melting and crystallization, vacuum induction melting, vacuum heat treatment and high pressure gas quenching, turbine blade coating and sintering. AMG also provides vacuum case-hardening heat treatment services on a tolling basis.
Graphit Kropfmühl AG is a majority controlled, publicly listed subsidiary of AMG. Based on its secure raw material sources in Africa, Asia and Europe, Graphit Kropfmühl is a specialist in the production of silicon metal and the extraction, processing and refining of natural crystalline graphite for a wide range of energy saving industrial applications.
Timminco Limited is a publicly listed affiliate of AMG. Timminco produces silicon metal for the chemical, aluminum, electronic and solar industries. Timminco also produces solar grade silicon, using its proprietary technology for purifying silicon metal, for the solar energy industry.
With over 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, Czech Republic, United States, China, Canada, Mexico, Brazil, Turkey, Poland, India and Sri Lanka and also has sales and customer service offices in Belgium, Russia and Japan (www.amg-nv.com).
For further information please contact:
AMG Advanced Metallurgical Group N.V. +1 610 975 4901
Vice President of Corporate Communications
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.