Amsterdam, 7 November 2014 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) The Supervisory Board of AMG has in its meeting of 6 November 2014, decided to propose to the Annual Meeting in May 2015, by way of a binding nomination, that its current CEO Dr. Heinz Schimmelbusch, will be re-appointed as CEO and Chairman of the Management Board for a term of four years.
The decision of the Supervisory board follows the endorsement by the Supervisory Board of the strategy of the Company. Pedro Pablo Kuczynski, Chairman of the Supervisory Board, commented: “Our Board has intensely reviewed the strategy of AMG going forward. This strategy is based upon the objective to maintain and improve AMG’s leadership position as a provider of critical materials to industries active in fields such as automotive, aerospace and clean energy. Major long term trends force these industries to find solutions in their search for and dependence on critical materials. AMG can deliver these solutions. Our Board is dedicated to create substantial shareholder value by executing this strategy of sustainable growth and profitability initiatives. The nomination of the present CEO for another term is testimony of our unanimous support of this strategy.”
Chairman Pedro Pablo Kuczynski added why the current CEO is the best man for the job in the coming years: “Dr. Schimmelbusch has been doing an excellent job during the past years where the Company faced very difficult market conditions with ongoing declining metals prices. The quarterly results published today are a tribute to his and the Management Board’s performance. The Board unanimously believes he is the right person and only candidate at this juncture to execute the strategy of value creation as a leader in the global markets for critical materials. We are very pleased that Dr. Schimmelbusch has agreed to accept his nomination.”
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 Processing 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 and vanadium chemicals.
AMG Engineering designs and produces advanced vacuum furnace systems, and operates vacuum heat treatment facilities, primarily for the Aerospace and Energy 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.
AMG Mining produces critical materials utilizing its secure raw material sources in Africa, Asia, Europe, and South America. AMG Mining produces critical materials such as high purity natural graphite, tantalum, antimony and silicon metal. These materials are of significant importance to the global economy and are available in limited supply. End markets for these materials include electronics, energy efficiency, green energy, and infrastructure.
With over 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, Czech Republic, United States, China, Mexico, Brazil, Turkey, Poland, India, 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. +1 610 975 4901
Vice President of Corporate Development and 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.