Sep. 2, 2010 - AMG Advanced Metallurgical Group N.V. was informed by its largest shareholder, Safeguard International Fund, L.P. and affiliates that Safeguard International has successfully completed an orderly transition of all of its shareholdings in AMG. As previously announced, Safeguard International was an owner of 7.8 million AMG shares. Safeguard International is scheduled to dissolve on 31 March 2011 and it intended to transition its AMG shareholdings no later than 30 September 2010.
As part of the transition of its shareholdings, Safeguard International has distributed 4.7 million shares of AMG common stock to certain of its Limited Partners. The remaining Limited Partners of Safeguard International will receive the net proceeds of its private placement of 3.1 million shares of AMG common stock, which was priced on 2 September and is expected to be settled on 7 September.
The Royal Bank of Scotland N.V. acted as sole global coordinator and sole bookrunner on behalf of Safeguard International for the private placement.
"We thank Safeguard International for its long term support of AMG. We also look forward to working with our new investors, including those Safeguard International investors which will continue to hold AMG shares. We are obviously pleased that the uncertainty related to the expected distribution of AMG shares by Safeguard International has been removed", stated Dr. Heinz Schimmelbusch, Chief Executive Officer and Chairman of the Management Board of AMG.
About AMG
AMG creates and applies innovative metallurgical solutions to the global trend of sustainable development of natural resources and CO(2) reduction. AMG produces highly engineered specialty metal products and advanced vacuum furnace systems for the Energy, Aerospace, Infrastructure and Specialty Metals and Chemicals end markets. AMG consists of two operating divisions, Advanced Materials and Engineering Systems, and owns interests in publicly-listed companies Graphit Kropfm hl AG (Deutsche B rse: GKR.DE) and Timminco Limited.
The Advanced Materials Division develops and produces specialty metals, alloys and high performance materials. AMG is a significant producer of specialty metals, such as ferrovanadium, ferronickel-molybdenum, aluminum master alloys and additives, chromium metal and ferrotitanium, for Energy, Aerospace, Infrastructure and Specialty Metal and Chemicals applications. Other key products include specialty alloys for titanium and superalloys, coating materials, tantalum and niobium oxides, vanadium chemicals and antimony trioxide.
The Engineering Systems Division designs, engineers and produces advanced vacuum furnace systems and operates vacuum heat treatment facilities, primarily for the Aerospace and Energy (including solar and nuclear) industries. Furnace systems produced by AMG include vacuum remelting, solar silicon melting and crystallization, vacuum induction melting, vacuum heat treatment and high pressure gas quenching, turbine blade coating and sintering. AMG also provides vacuum case-hardening heat treatment services on a tolling basis.
Graphit Kropfm hl AG is a majority controlled, publicly listed subsidiary of AMG. Based on its secure raw material sources in Africa, China and Europe, Graphit Kropfm hl is a specialist in the production of silicon metal and the extraction, processing and refining of natural crystalline graphite for a wide range of energy saving industrial applications.
Timminco Limited is a publicly listed affiliate of AMG. Timminco produces silicon metal for the chemical, aluminum, electronic and solar industries. Timminco also produces solar grade silicon, using its proprietary technology for purifying silicon metal, for the solar energy industry.
With over 2,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, Czech Republic, the United States, Canada, Mexico, Brazil, and Sri Lanka and also has sales and customer service offices in Belgium, Russia, China and Japan.
As part of the transition of its shareholdings, Safeguard International has distributed 4.7 million shares of AMG common stock to certain of its Limited Partners. The remaining Limited Partners of Safeguard International will receive the net proceeds of its private placement of 3.1 million shares of AMG common stock, which was priced on 2 September and is expected to be settled on 7 September.
The Royal Bank of Scotland N.V. acted as sole global coordinator and sole bookrunner on behalf of Safeguard International for the private placement.
"We thank Safeguard International for its long term support of AMG. We also look forward to working with our new investors, including those Safeguard International investors which will continue to hold AMG shares. We are obviously pleased that the uncertainty related to the expected distribution of AMG shares by Safeguard International has been removed", stated Dr. Heinz Schimmelbusch, Chief Executive Officer and Chairman of the Management Board of AMG.
About AMG
AMG creates and applies innovative metallurgical solutions to the global trend of sustainable development of natural resources and CO(2) reduction. AMG produces highly engineered specialty metal products and advanced vacuum furnace systems for the Energy, Aerospace, Infrastructure and Specialty Metals and Chemicals end markets. AMG consists of two operating divisions, Advanced Materials and Engineering Systems, and owns interests in publicly-listed companies Graphit Kropfm hl AG (Deutsche B rse: GKR.DE) and Timminco Limited.
The Advanced Materials Division develops and produces specialty metals, alloys and high performance materials. AMG is a significant producer of specialty metals, such as ferrovanadium, ferronickel-molybdenum, aluminum master alloys and additives, chromium metal and ferrotitanium, for Energy, Aerospace, Infrastructure and Specialty Metal and Chemicals applications. Other key products include specialty alloys for titanium and superalloys, coating materials, tantalum and niobium oxides, vanadium chemicals and antimony trioxide.
The Engineering Systems Division designs, engineers and produces advanced vacuum furnace systems and operates vacuum heat treatment facilities, primarily for the Aerospace and Energy (including solar and nuclear) industries. Furnace systems produced by AMG include vacuum remelting, solar silicon melting and crystallization, vacuum induction melting, vacuum heat treatment and high pressure gas quenching, turbine blade coating and sintering. AMG also provides vacuum case-hardening heat treatment services on a tolling basis.
Graphit Kropfm hl AG is a majority controlled, publicly listed subsidiary of AMG. Based on its secure raw material sources in Africa, China and Europe, Graphit Kropfm hl is a specialist in the production of silicon metal and the extraction, processing and refining of natural crystalline graphite for a wide range of energy saving industrial applications.
Timminco Limited is a publicly listed affiliate of AMG. Timminco produces silicon metal for the chemical, aluminum, electronic and solar industries. Timminco also produces solar grade silicon, using its proprietary technology for purifying silicon metal, for the solar energy industry.
With over 2,300 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, Czech Republic, the United States, Canada, Mexico, Brazil, and Sri Lanka and also has sales and customer service offices in Belgium, Russia, China and Japan.
