AMG ADVANCED METALLURGICAL GROUP N.V. ANNOUNCES APPROVAL TO EXPAND ITS SPENT CATALYST RECYCLING CAPACITY
Amsterdam, 21 May 2019 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that its Supervisory Board has approved a capital project to double its spent catalyst recycling capacity by building a new, greenfield plant in the operational vicinity of its current spent catalyst processing plant in Cambridge Ohio.
This new plant will be financed with the proceeds from the sale of up to $350 million tax exempt bonds to be issued by the Ohio Air Quality Development Authority. The proceeds of the bonds will be lent to AMG Vanadium LLC, a subsidiary of AMG, and AMG will guarantee the repayment of the bonds. The bonds will be senior, unsecured obligations of AMG. AMG has engaged Citigroup Global Markets and Morgan Stanley to act as underwriters with respect to the bonds. Subject to necessary approvals from the Ohio Air Quality Development Authority, AMG expects the bonds to be marketed at the end of June.
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, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal. AMG Technologies produces titanium aluminides and titanium alloys for the aerospace market; 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).
About AMG Vanadium LLC
Located in Cambridge, Ohio, AMG Vanadium specializes in the environmentally beneficial conversion of oil refinery and power plant waste products into ferrovanadium, nickel and molybdenum primarily used by global steel producers in automotive, energy transmission and infrastructure applications. By using materials that would otherwise be discarded as waste, AMG Vanadium creates environmental stewardship, energy conservation and resource recovery.
For further information, please contact:
AMG Advanced Metallurgical Group N.V. +1 610 975 4979
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.
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