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).
About AMG
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, lithium,
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 3,300
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. +1 610 293
5804
Steve Daniels
Senior Vice President
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.
Vanadium Expansion
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: AMG Advanced Metallurgical Group N.V. via
Globenewswire
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