AMG ADVANCED METALLURGICAL GROUP N.V. COMPLETES FEASIBILITY STUDY TO EXPAND SPENT CATALYST PROCESSING CAPACITY
Amsterdam, 16 October 2018 (Regulated Information) — AMG Advanced Metallurgical Group N.V. (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that AMG Vanadium has completed the feasibility study to replicate its existing Cambridge, Ohio recycling facility. The AMG Management Board has approved the commencement of engineering work for the twin facility, and several potential locations within the operational vicinity of AMG Vanadium’s existing plant are under final consideration. Once completed, the new facility will more than double AMG Vanadium’s spent catalyst processing capability.
Subject to permitting, construction is expected to commence mid-2019 with a completion date in early 2021, resulting in over 35,000 tons of incremental spent catalyst processing capacity and over 6 million pounds of incremental vanadium production capacity.
The construction of a second recycling facility in North America replaces the previously announced 30% expansion of the existing AMG Vanadium facility in Cambridge, Ohio.
“The new facility will help AMG meet customer demand for management of spent catalyst, a listed hazardous waste, and provide proven sustainable recycling of the valuable metals contained in the waste. This expansion has been in the making for over a year and would not be possible without the AMG teams’ depth of experience, local and state governmental and agency support, and our stakeholders’ commitment to the industry,” said Hoy Frakes, President of AMG Vanadium LLC.
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
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