AMG Advanced Metallurgical Group N.V. Acquires Remaining 49.9% Interest in Feldspar Partnership
(Thomson Reuters ONE) -
Amsterdam, 24 August 2016 (Regulated Information) --- AMG Advanced Metallurgical
Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") is pleased to announce that AMG
Mineração has acquired the remaining 49.9% interest in their unincorporated
feldspar partnership from Colorminas, Brazil. The partnership between AMG
Mineração and Colorminas was established in 2003 with the objective of producing
and commercializing feldspar from tailings generated from AMG Mineração's
tantalum operations.
"The acquisition is in line with AMG's strategy to streamline its organizational
structure and enables AMG Lithium to eventually expand production, subject to
the completion of a feasibility study and management approval, from the
previously announced initial annual production capacity of 90,000 tons of
lithium concentrate up to 140,000 tons of lithium concentrate," said Mr. Fabiano
Costa, President of AMG Mineração.
AMG Mineração's Mibra mine produces 300,000 pounds of high purity tantalum
oxides (Ta(2)O(5)) in concentrates annually primarily for use in capacitors for
the electronics industry and produces 180,000 tons of feldspar for the local
ceramics and glass industry.
About AMG
AMG is a global critical materials company at the forefront of CO(2) 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
Steve Daniels
Senior Vice President
sdaniels(at)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.
August 24 2016:
http://hugin.info/138060/R/2036847/758841.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions 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
Unternehmensinformation / Kurzprofil:
Datum: 24.08.2016 - 07:00 Uhr
Sprache: Deutsch
News-ID 490784
Anzahl Zeichen: 4920
contact information:
Town:
Amsterdam
Kategorie:
Business News
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