AMSTERDAM, Netherlands, May 26, 2016 (GLOBE NEWSWIRE) -- (Regulated Information) -- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") is pleased to announce that AMG Titanium Alloys and Coatings ("AMG TAC") has been selected by MTU Aero Engines AG, under a long term supply contract, to provide titanium aluminides ("TiAl") for the production of the Pratt & Whitney PurePower® PW1100G-JM engine. The value of the signed contracts with MTU Aero Engines AG exceeds $40 million.
TiAl combines the heat resistance aspects of nickel alloys with the lightweight characteristics of titanium. AMG's TiAl materials will be used to produce low-pressure turbine blades for the PurePower® PW1100G-JM engine, for use in single aisle aircraft, including the A320neo.
According to Pratt & Whitney, the ultra-efficient PurePower® PW1100G-JM engine delivers double-digit improvements in fuel efficiency, reduces noise by 20 dB and slashes CO2 and NOX emissions.
To support this next stage of expansion, AMG TAC will invest in new AMG Engineering supplied vacuum furnaces to meet the contracted demand. The combined value of current and future supply contracts for AMG's TiAl business, across all customers, exceeds $130 million.
AMG Titanium Alloys and Coatings is a world-leader in the production of advanced materials for the aerospace industry and the largest qualified provider of TiAl feedstock for all major commercial turbine engine manufacturers.
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 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 produce and upgrade specialty metals and alloys for the transportation, automotive, infrastructure, and energy markets.
With approximately 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, Czech Republic, 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. +1 610 293 5804
Senior Vice President
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.
May 26 2016 http://hugin.info/138060/R/2015640/747382.pdf
Source: AMG Advanced Metallurgical Group N.V.