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AMG Acquires 100% of Nuclear Joint Venture
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AMSTERDAM, NETHERLANDS -- (Marketwire) -- 10/08/08 -- AMG Advanced MetallurgicalGroup N.V.("AMG", EURONEXT AMSTERDAM: "AMG") announces that its EngineeringSystems Division has acquired the remaining 50% of its nuclearjointventure, Furnaces Nuclear Applications Grenoble S.A. ("FN") forapproximately EUR 3 million. FN was formerly a joint venture withaprivately held French company. AMG will now consolidate theseoperations under the Engineering Systems Division.
Furnaces Nuclear Applications Grenoble S.A. designs and producessintering systems for a number of nuclear applications. Aspreviouslyannounced, FN was recently awarded a contract with Shaw Areva MOXServices LLC for the detailed engineering of two sinteringfurnacesfor the Shaw Areva MOX Fuel Fabrication Facility at the SavannahRiver Site, in Aiken, South Carolina, USA. These vacuum-typesintering systems will be used in the production of mixed oxide(MOX)uranium and plutonium nuclear fuel for light water reactors.
In addition to its sintering systems for nuclear fuels and thecontract with Shaw Areva MOX Services LLC, Furnaces NuclearApplications Grenoble S.A. has the world's leading vacuum furnaceengineering team specializing in nuclear technologies. AMG intendstouse FN as a platform for its further expansion into the growingnuclear energy field.
About AMG
AMG, incorporated in the Netherlands, is a global leader in theproduction of highly engineered specialty metal products andadvancedvacuum furnace systems. AMG serves growing industries worldwidewithits unique combination of metallurgical engineering expertise andproduction know-how. AMG is a market leader in many of itsproductsand systems, which are critical to the production of keycomponentsfor the aerospace, energy (including solar and nuclear),electronics,optics, chemicals, construction and transportation industries. AMGhas two operating divisions of businesses, Advanced Materials andEngineering Systems, and owns majority interests inpublicly-listedcompanies Timminco Limited (TSX: "TIM") and Graphit Kropfmühl AG(Deutsche Börse: GKR.DE)
The Advanced Materials Division develops and produces nichespecialtymetals and complex metals products, many of which are used indemanding, safety-critical, high-stress environments. AMG is oneof alimited number of significant producers globally of nichespecialtymetals, such as ferrovanadium, ferronickel-molybdenum, aluminummaster alloys and additives, chromium metal and ferrotitanium,usedby steel, aluminum, chemical and superalloy producers foraerospace,automotive, energy, electronics, optics, chemicals, constructionandother applications. Other key products produced by AMG includespecialty alloys for titanium and superalloys, coating materials,tantalum and niobium oxides, vanadium chemicals and antimonytrioxide.
The Engineering Systems Division designs, engineers and producesadvanced vacuum furnace systems and operates vacuum heat treatmentfacilities. AMG is a global leader in supplyingtechnologically-advanced vacuum furnace systems to customers intheaerospace, energy (including solar and nuclear), transportation,electronics, superalloys and specialty steel industries. Examplesoffurnace systems produced by AMG include vacuum remelting, solarsilicon melting and crystallization, vacuum induction melting,vacuumheat treatment and high pressure gas quenching, vacuum precisioncasting, turbine blade coating and sintering. AMG also providesvacuum case-hardening heat treatment services on a tolling basistocustomers through facilities equipped with vacuum heat treatmentfurnaces.
Timminco Limited is a majority controlled, publicly listedsubsidiaryof AMG. Timminco is a leader in the production of upgradedmetallurgical silicon for the rapidly growing solar photovoltaicenergy industry. Timminco also produces silicon metal andmagnesiumproducts for use in a broad range of industrial applications.
Graphit Kropfmühl AG is a majority controlled, publicly listedsubsidiary of AMG. Based on its secure raw material sources inAfrica, China and Europe, Graphit Kropfmühl is a specialist in theproduction of silicon metal and the extraction, processing andrefining of natural crystalline graphite for a wide range ofenergysaving industrial applications.
AMG operates globally with production facilities in Germany, theUnited Kingdom, France, Czech Republic, the United States, Canada,Mexico, Brazil, Sri Lanka and Australia and also has sales andcustomer service offices in Belgium, Russia, China and Japan(website: www.amg-nv.com).
For further information please contact:
AMG Advanced Metallurgical Group N.V. +1 610 975 4901Jonathan CostelloDirector of Corporate Communicationsjcostello@amg-nv.com
AMG acquires 100% of Nuclear Joint Venture:http://hugin.info/138060/R/1258105/274732.pdf
Copyright © Hugin AS 2008. All rights reserved.
In addition to its sintering systems for nuclear fuels and thecontract with Shaw Areva MOX Services LLC, Furnaces NuclearApplications Grenoble S.A. has the world's leading vacuum furnaceengineering team specializing in nuclear technologies. AMG intendstouse FN as a platform for its further expansion into the growingnuclear energy field.
About AMG
AMG, incorporated in the Netherlands, is a global leader in theproduction of highly engineered specialty metal products andadvancedvacuum furnace systems. AMG serves growing industries worldwidewithits unique combination of metallurgical engineering expertise andproduction know-how. AMG is a market leader in many of itsproductsand systems, which are critical to the production of keycomponentsfor the aerospace, energy (including solar and nuclear),electronics,optics, chemicals, construction and transportation industries. AMGhas two operating divisions of businesses, Advanced Materials andEngineering Systems, and owns majority interests inpublicly-listedcompanies Timminco Limited (TSX: "TIM") and Graphit Kropfmühl AG(Deutsche Börse: GKR.DE)
The Advanced Materials Division develops and produces nichespecialtymetals and complex metals products, many of which are used indemanding, safety-critical, high-stress environments. AMG is oneof alimited number of significant producers globally of nichespecialtymetals, such as ferrovanadium, ferronickel-molybdenum, aluminummaster alloys and additives, chromium metal and ferrotitanium,usedby steel, aluminum, chemical and superalloy producers foraerospace,automotive, energy, electronics, optics, chemicals, constructionandother applications. Other key products produced by AMG includespecialty alloys for titanium and superalloys, coating materials,tantalum and niobium oxides, vanadium chemicals and antimonytrioxide.
The Engineering Systems Division designs, engineers and producesadvanced vacuum furnace systems and operates vacuum heat treatmentfacilities. AMG is a global leader in supplyingtechnologically-advanced vacuum furnace systems to customers intheaerospace, energy (including solar and nuclear), transportation,electronics, superalloys and specialty steel industries. Examplesoffurnace systems produced by AMG include vacuum remelting, solarsilicon melting and crystallization, vacuum induction melting,vacuumheat treatment and high pressure gas quenching, vacuum precisioncasting, turbine blade coating and sintering. AMG also providesvacuum case-hardening heat treatment services on a tolling basistocustomers through facilities equipped with vacuum heat treatmentfurnaces.
Timminco Limited is a majority controlled, publicly listedsubsidiaryof AMG. Timminco is a leader in the production of upgradedmetallurgical silicon for the rapidly growing solar photovoltaicenergy industry. Timminco also produces silicon metal andmagnesiumproducts for use in a broad range of industrial applications.
Graphit Kropfmühl AG is a majority controlled, publicly listedsubsidiary of AMG. Based on its secure raw material sources inAfrica, China and Europe, Graphit Kropfmühl is a specialist in theproduction of silicon metal and the extraction, processing andrefining of natural crystalline graphite for a wide range ofenergysaving industrial applications.
AMG operates globally with production facilities in Germany, theUnited Kingdom, France, Czech Republic, the United States, Canada,Mexico, Brazil, Sri Lanka and Australia and also has sales andcustomer service offices in Belgium, Russia, China and Japan(website: www.amg-nv.com).
For further information please contact:
AMG Advanced Metallurgical Group N.V. +1 610 975 4901Jonathan CostelloDirector of Corporate Communicationsjcostello@amg-nv.com
AMG acquires 100% of Nuclear Joint Venture:http://hugin.info/138060/R/1258105/274732.pdf
Copyright © Hugin AS 2008. All rights reserved.
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