AMG Advanced Metallurgical Group N.V. Announces Approval to Expand its Spent Catalyst Recycling Capacity
May 21 2019 - 12:00AM
Amsterdam, 21 May 2019 (Regulated Information) ---
AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM:
"AMG") is pleased to announce that its Supervisory Board has
approved a capital project to double its spent catalyst recycling
capacity by building a new, greenfield plant in the operational
vicinity of its current spent catalyst processing plant in
Cambridge Ohio.
This new plant will be financed
with the proceeds from the sale of up to $350 million tax
exempt bonds to be issued by the Ohio Air Quality Development
Authority. The proceeds of the bonds will be lent to AMG Vanadium
LLC, a subsidiary of AMG, and AMG will guarantee the repayment of
the bonds. The bonds will be senior, unsecured obligations of
AMG. AMG has engaged Citigroup Global Markets and Morgan Stanley to
act as underwriters with respect to the bonds. Subject to
necessary approvals from the Ohio Air Quality Development
Authority, AMG expects the bonds to be marketed at the end of
June.
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, ferrovanadium, natural
graphite, chromium metal, antimony, lithium, tantalum, niobium and
silicon metal. AMG Technologies produces titanium aluminides
and titanium alloys for the aerospace market; 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. +1 610 975
4979
Michele Fischer
mfischer@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.
Approval to Expand Spent Catalyst
Recycling Capacity
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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