SinterCast Annual General Meeting 2015
(Thomson Reuters ONE) -
[Stockholm, 20 May 2015] - The SinterCast AB (publ) Annual General Meeting (AGM)
was held on 20 May 2015 in Stockholm. During the AGM, presentations were
provided by Mr Luiz Tarquínio S. Ferro, President of Tupy S.A., and by Dr Steve
Dawson, President & CEO. The recorded presentations will be available on the
SinterCast website on or before Monday 25 May.
Since his previous appearance at SinterCast's AGM in 2007, Mr Ferro presented an
overview of Tupy's development, including organic growth and strategic
acquisitions that have secured Tupy's position as the world's largest
independent foundry and the world's largest and most diversified provider of
Compacted Graphite Iron (CGI). Mr Ferro noted that CGI has become an
increasingly important component of Tupy's current business and future growth
strategy. With several CGI components already in series production, Mr Ferro
confirmed that Tupy has secured additional CGI production commitments and that
CGI has the potential to grow from the current 13% of automotive sales volume
(1Q15). Mr Ferro acknowledged SinterCast's contributions to Tupy's drive for
improved efficiency and improved margins, and thanked SinterCast for its support
over the past 18 years. From the world's first high volume CGI programme in
2003, to the world's first high volume CGI petrol engine in 2014, Mr Ferro
confirmed that Tupy is committed to leading the global trend toward CGI for
performant, efficient and green engine technologies.
During the CEO presentation, Dr Dawson presented an overview of recent market
activities and provided an outlook for SinterCast's potential market
development. Dr Dawson's presentation showed that the annualised volume
increased by 18% since the last AGM, and that the average compound annual growth
rate since 2007 is also 18%. Dr Dawson stated that breaking the two million
Engine Equivalent milestone in March was a significant achievement for the
company and that the programmes currently in series production have the
potential to provide more than 2.5 million Engine Equivalents. Beyond the
current production, the programmes under development at Tupy and at SinterCast's
other foundry partners will enable SinterCast to surpass the three million
Engine Equivalent milestone and provide further growth opportunities. Dr Dawson
also noted that the recent growth has been well diversified, with double-digit
growth contributions coming from each of the passenger vehicle, commercial
vehicle and industrial power sectors. The Ford 2.7 litre V6 petrol engine has
been a particularly strong contributor recently, providing an important
reference for CGI in petrol applications. In closing, Dr Dawson confirmed that
the recent increases in series production and new installations have provided a
great sense of achievement, pride and motivation for the SinterCast employees,
and invited the shareholders to share in this sense of accomplishment.
During the AGM, Hans-Erik Andersson, Aage Figenschou, Robert Dover, Laurence
Vine-Chatterton, Carina Andersson, Jason Singer and Steve Dawson were re-elected
as Board members. Hans-Erik Andersson was re-appointed as Chairman.
The AGM also decided upon the constitution of the Nomination Committee until the
next AGM, comprised of Karl-Arne Henriksson, Chairman, Andrea Fessler, Ulla-
Britt Fräjdin-Hellqvist and Hans-Erik Andersson.
All of the proposals presented to AGM were approved by the shareholders.
For and on behalf of the Board of Directors:
Steve Dawson
President & CEO
SinterCast AB (publ)
Tel: +46 8 660 7750
e-mail: steve.dawson(at)sintercast.com
SinterCast is the world's leading supplier of process control technology for the
reliable high volume production of Compacted Graphite Iron (CGI). With at least
75% higher tensile strength, 45% higher stiffness and approximately double the
fatigue strength of conventional grey cast iron and aluminium, CGI allows engine
designers to improve performance, fuel economy and durability while reducing
engine size, weight, noise and emissions. With 42 installations in 12 countries,
the SinterCast technology is primarily used for the production of petrol and
diesel engine cylinder blocks and exhaust components for passenger vehicles;
medium-duty and heavy-duty cylinder blocks and heads for commercial vehicles;
and, industrial power engine components for marine, rail, off-road and
stationary engine applications. SinterCast's series production components range
from 2 kg to 9 tonnes, all using the same proven process control technology.
The SinterCast share is quoted on the Small Cap segment of the Stockholm NASDAQ
OMX stock exchange (Stockholmsbörsen: SINT). For more information:
www.sintercast.com
END
Press Release PDF :
http://hugin.info/1205/R/1922760/689559.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: SinterCast via GlobeNewswire
[HUG#1922760]
Unternehmensinformation / Kurzprofil:
Datum: 20.05.2015 - 19:49 Uhr
Sprache: Deutsch
News-ID 394775
Anzahl Zeichen: 6143
contact information:
Town:
Stockholm
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 143 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"SinterCast Annual General Meeting 2015"
steht unter der journalistisch-redaktionellen Verantwortung von
SinterCast (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
