AMSTERDAM, Netherlands, Dec. 19, 2014 (GLOBE NEWSWIRE) -- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") announces that AMG Superalloys has sold its 51% equity interest in Benda-Lutz-Alpoco Sp. z o.o to Benda-Lutz Werke GmbH for cash, effective December 31st 2014.
The transaction is in line with AMG's stated strategy to divest non-core assets and reposition its global operations. Mr. Julien Crisnaire, President of AMG Superalloys, stated, "This divestment will enable AMG Superalloys to focus on its core operations, better serve customers globally and enhance AMG's return on capital".
AMG Superalloys is a highly specialized manufacturer of products to the aluminum, steel, superalloy, hard-facing, welding, and glass industries. With over 250 employees and two ISO 9001 manufacturing plants in the United Kingdom, AMG Superalloys manufactures, among other products, chromium metal, ferro titanium, aluminum powders, and cerium oxide-based glass polishing powders.
AMG is a diversified "critical materials" company driven by global CO2 reduction trends. AMG produces highly engineered specialty metals and minerals products and provides related vacuum furnace systems and services to the aerospace, infrastructure, energy, and specialty metals & chemicals end markets.
AMG produces aluminum master alloys and powders, titanium alloys and coatings, ferrovanadium, natural graphite, chromium metal, antimony, tantalum, niobium and silicon metal. AMG Engineering designs and produces vacuum furnace equipment and systems used to upgrade specialty metals and alloys for the aerospace, automotive, infrastructure, and energy markets.
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 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. +1 610 293 5804
Vice President of Investor Relations
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.
December 19 2014 http://hugin.info/138060/R/1881864/663865.pdf
Source:AMG Advanced Metallurgical Group N.V.