AMSTERDAM, Netherlands, Aug. 10, 2015 (GLOBE NEWSWIRE) -- (Regulated Information) --- AMG Advanced Metallurgical Group N.V. ("AMG") has agreed to amend the pricing and payment structure of the long-term tantalum sales contract of AMG Mineração, Brazil, with its major customer, Global Advanced Metals USA Inc. ("GAM US"). In this context, AMG will receive a cash payment from GAM US and a 10% interest in Global Advanced Metals Pty Ltd ("GAM"), the parent company of GAM US. GAM is majority owned by Resource Capital Funds, Denver, U.S.A. The restructured contract will not materially impact AMG's earnings and cash flow forecast.
"In revising the contract terms with our major customer we have found a win-win solution. The 10% shareholding is combined with a Board seat of GAM and is another step in our relationship with GAM and Resource Capital Funds" said Heinz Schimmelbusch, AMG's CEO.
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, titanium alloys and coatings, ferrovanadium, natural graphite, chromium metal, antimony, tantalum, niobium and silicon metal. AMG Engineering designs, engineers, and produces advanced vacuum furnace systems and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.
With approximately 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, Czech Republic, the United States, China, Mexico, Brazil 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.
Steve Daniels +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.
August 10 2015 http://hugin.info/138060/R/1943924/704115.pdf
Source:AMG Advanced Metallurgical Group N.V.