AMSTERDAM, Dec. 22, 2014 (GLOBE NEWSWIRE) --
(Regulated Information) --- AMG Advanced Metallurgical
Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") is pleased to
announce the signing of a definitive agreement to sell a 40% equity
interest in AMG Graphit Kropfmühl GmbH ("AMG Graphite") by way of a
capital increase in combination with a 10.33% equity interest in
Bogala Graphite Lanka PLC ("Bogala") to Alterna Capital Partners
("Alterna") for a combined cash price of $38m. The transaction is
expected to close during the first quarter of 2015 and is subject
to certain closing conditions including regulatory approvals.
The transaction is in line with AMG's strategy
to expand its critical materials business while, at the same time,
continuing to reduce net debt. Dr. Heinz Schimmelbusch, Chief
Executive Officer of AMG, stated, "Natural Graphite has a high
growth potential and we have to reposition our global value chain
to benefit from this opportunity. We are pleased to have found a
partner who shares our views and values".
Roger Miller, Managing Partner of Alterna,
stated, "We are excited to partner with AMG and their management
team to progress AMG Graphite's growth strategy. We believe
AMG Graphite has demonstrated a strong track record of providing
customers with high quality products and services and the Company
is well positioned for continued growth".
AMG Graphite is one of the world's leading
graphite producing and refining companies, with mining activities
in Germany, Africa and Asia. AMG Graphite has more than 140 years
of experience producing the highest quality natural graphite
products through its own source mines and vertically integrated
production facilities.
Bogala Graphite Lanka PLC produces high quality
natural vein graphite from its mine in Sri Lanka. With a unique
crystalline structure, vein graphite outperforms other types of
macro crystalline graphite found elsewhere in the world. With an
80% shareholding, AMG Graphite will remain the majority shareholder
in Bogala Graphite Lanka PLC.
About AMG
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, chromium metal, ferrovanadium,
antimony, tantalum, niobium, silicon metal and natural
graphite. 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).
About Alterna Capital Partners
Alterna invests in Core Capital Assets for the
transportation, industrial and energy sectors. The firm looks for
income producing assets in developed economies that are essential
for expansion and maintenance of productive operations and have the
following characteristics: Economically vital, Long useful life,
Stable technology.
The founders of Alterna are an accomplished team
that combines extensive asset and industry knowledge with strong
investment experience. The team has more than 100 years of
aggregate investment experience, having successfully invested
approximately $3 billion in Core Capital Assets.
For further information, please contact:
AMG Advanced Metallurgical Group
N.V. +1 610 293
5804 Steve Daniels Vice President of Investor
Relations sdaniels@amg-nv.com
Disclaimer 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 22 2014
http://hugin.info/138060/R/1882273/664100.pdf
HUG#1882273
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