Amsterdam, 25 May 2009 — AMG Advanced Metallurgical Group N.V.’s (“AMG”, EURONEXT AMSTERDAM: “AMG”) 53.8% owned subsidiary, Timminco Limited (“Timminco”; TSX: TIM), and Q-Cells SE (“Q-Cells”; QCE: Frankfurt Stock Exchange) announced that they have reached a new supply agreement for solar grade silicon. It will replace the agreement signed in 2008 for the five-year period through 2013. The new agreement contemplates deliveries of 100 mt of solar grade silicon for the remainder of 2009. Volumes, pricing and other terms for deliveries of solar grade silicon in years 2010 to 2013 will be subject to mutual agreement by the end of 2009 and will be negotiated in the context of prevailing solar industry market conditions. Timminco will also return the outstanding deposit of approximately €8.9 million to Q-Cells. The companies agreed to a repayment schedule that will commence in the first quarter 2010 and be completed by the end of 2010. Timminco will pay interest on the outstanding balance at an agreed rate.
“Q-Cells is a valued customer of Timminco.” said Rene Boisvert, President of Becancour Silicon Inc. “We look forward to continuing to build a long term relationship with Q-Cells based upon application of our UMG-Si technology.”
“We believe in upgraded metallurgical silicon as an important resource for the production of solar cells in the mid- to long-term perspective” says Anton Milner, CEO of Q-Cells SE. “Our technical department is working closely with Timminco to ensure that the material consistently meets our high quality needs.”
AMG, incorporated in the Netherlands, is a global leader in the production of highly engineered specialty metal products and advanced vacuum furnace systems. AMG serves growing industries worldwide with its unique combination of metallurgical engineering expertise and production know-how. AMG is a market leader in many of its products and systems, which are critical to the production of key components for the aerospace, energy (including solar and nuclear), electronics, optics, chemicals, construction and transportation industries. AMG has two operating divisions of businesses, Advanced Materials and Engineering Systems, and owns majority interests in publicly-listed companies Timminco Limited (TSX: “TIM”) and Graphit Kropfmühl AG (Deutsche Börse: GKR.DE).
The Advanced Materials Division develops and produces niche specialty metals and complex metals products, many of which are used in demanding, safety-critical, high-stress environments. AMG is one of a limited number of significant producers globally of niche specialty metals, such as ferrovanadium, ferronickel-molybdenum, aluminum master alloys and additives, chromium metal and ferrotitanium, used by steel, aluminum, chemical and superalloy producers for aerospace, automotive, energy, electronics, optics, chemicals, construction and other applications. Other key products produced by AMG 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. AMG is a global leader in supplying technologically-advanced vacuum furnace systems to customers in the aerospace, energy (including solar and nuclear), transportation, electronics, superalloys and specialty steel industries. Examples of furnace systems produced by AMG include vacuum remelting, solar silicon melting and crystallization, vacuum induction melting, vacuum heat treatment and high pressure gas quenching, vacuum precision casting, turbine blade coating and sintering. AMG also provides vacuum case-hardening heat treatment services on a tolling basis to customers through facilities equipped with vacuum heat treatment furnaces.
Timminco Limited is a majority controlled, publicly listed subsidiary of AMG. Timminco is a leader in the production of upgraded metallurgical silicon for the rapidly growing solar photovoltaic energy industry. Timminco also produces silicon metal and magnesium products for use in a broad range of industrial applications.
Graphit Kropfmühl AG is a majority controlled, publicly listed subsidiary of AMG. Based on its secure raw material sources in Africa, China 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.
AMG operates globally with production facilities in Germany, the United Kingdom, France, Czech Republic, the United States, Canada, Mexico, Brazil, Sri Lanka and Australia and also has sales and customer service offices in Belgium, Russia, China and Japan (website: www.amg-nv.com).
For further information please contact:
AMG Advanced Metallurgical Group N.V. +1 610 975 4901
Director of Corporate Communications
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