AndhraNews.net
Home » Business News » 2011 » May » May 6, 2011

AMG comments on U.S. Department of Commerce anticircumvention inquiry regarding vanadium


May 6, 2011 - Amsterdam, Netherlands

AMG Advanced Metallurgical GroupN.V., ("AMG") (EURONEXT AMSTERDAM: AMG) based upon a request by itssubsidiary, AMG Vanadium, to the U.S. Department of Commerce (the"Department"), was notified that theDepartment has initiated an anticircumvention inquiry covering vanadiumpentoxide from Russia that is being converted into ferrovanadium in theUnitedStates. U.S. law provides this remedy when merchandise is imported andfurtherprocessed in order to circumvent an antidumping order protecting a U.S.domesticindustry and its workers.

The Department found sufficient evidence to warrant initiating acircumventioninquiry, including evidence indicating that the ferrovanadium sold in theUnitedStates is the same class or kind of merchandise as the ferrovanadiumcovered bythe order, that the ferrovanadium sold in the U.S. is produced fromvanadiumpentoxide imported from Russia and further processed in the United States,andthat the further processing of Russian vanadium pentoxide intoferrovanadium inthe United States is a minor or insignificant process.

AMG Vanadium expects the anticircumvention inquiry to confirm these factsand toresult in the imposition of antidumping duties on the imports circumventingtheorder.

AMG Vanadium is a leading North American producer of ferrovanadium. Ituses anenvironmentally friendly proprietary technology for the recycling of spentrefinery catalysts to produce ferrovanadium and ferronickel-molybdenum atitsfacility in Ohio, USA.

About AMG

AMG creates and applies innovative metallurgical solutions to the globaltrendof sustainable development of natural resources and CO2 reduction. AMGproduceshighly engineered specialty metal products and advanced vacuum furnacesystemsfor the Energy, Aerospace, Infrastructure and Specialty Metals andChemicals endmarkets. AMG consists of two operating divisions, Advanced Materials andEngineering Systems, and owns interests in publicly-listed companiesGraphitKropfmühl AG (Deutsche Börse: GKR.DE) and Timminco Limited (TSX:"TIM").

The Advanced Materials Division develops and produces specialty metals,alloysand high performance materials. AMG is a significant producer of specialtymetals, such as ferrovanadium, ferronickel-molybdenum, aluminum masteralloysand additives, chromium metal and ferrotitanium, for Energy, Aerospace,Infrastructure and Specialty Metal and Chemicals applications. Other keyproducts include specialty alloys for titanium and superalloys, coatingmaterials, tantalum and niobium oxides, vanadium chemicals and antimonytrioxide.

The Engineering Systems Division designs, engineers and produces advancedvacuumfurnace systems and operates vacuum heat treatment facilities, primarilyfor theAerospace and Energy (including solar and nuclear) industries. Furnacesystemsproduced by AMG include vacuum remelting, solar silicon melting andcrystallization, vacuum induction melting, vacuum heat treatment and highpressure gas quenching, turbine blade coating and sintering. AMG alsoprovidesvacuum case-hardening heat treatment services on a tolling basis.

Graphit Kropfmühl AG is a majority controlled, publicly listedsubsidiary ofAMG. Based on its secure raw material sources in Africa, China and Europe,Graphit Kropfmühl is a specialist in the production of silicon metaland theextraction, processing and refining of natural crystalline graphite for awiderange of energy saving industrial applications.

Timminco Limited is a publicly listed affiliate of AMG. Timminco producessilicon metal for the chemical, aluminum, electronic and solar industries.Timminco also produces solar grade silicon, using its proprietarytechnology forpurifying silicon metal, for the solar energy industry.

With over 2,600 employees, AMG operates globally with production facilitiesinGermany, the United Kingdom, France, Czech Republic, United States, China,Canada, Mexico, Brazil, Turkey, Poland, India and Sri Lanka and also hassalesand customer service offices in Belgium, Russia and Japan (www.amg-nv.com).

Disclaimer

Certain statements in this press release are not historical facts and are"forward looking." Forward looking statements include statementsconcerningAMG's plans, expectations, projections, objectives, targets, goals,strategies,future events, future revenues or performance, capital expenditures,financingneeds, plans and intentions relating to acquisitions, AMG's competitivestrengths and weaknesses, plans or goals relating to forecasted production,reserves, financial position and future operations and development, AMG'sbusiness strategy and the trends AMG anticipates in the industries and thepolitical and legal environment in which it operates and other informationthatis not historical information. When used in this press release, the words"expects," "believes," "anticipates," "plans," "may," "will," "should," andsimilar expressions, and the negatives thereof, are intended to identifyforwardlooking statements. By their very nature, forward looking statementsinvolveinherent risks and uncertainties, both general and specific, and risksexistthat the predictions, forecasts, projections and other forward lookingstatements will not be achieved. These forward looking statements speakonly asof the date of this press release. AMG expressly disclaims any obligationorundertaking to release publicly any updates or revisions to any forwardlookingstatement contained herein to reflect any change in AMG's expectations withregard thereto or any change in events, conditions, or circumstances onwhichany forward looking statement is based.

AMG comments on U.S. Department of Commerce anticircumvention inquiryregardingvanadium

This announcement is distributed by Thomson Reuters on behalf ofThomson Reuters 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: AMG Advanced Metallurgical Group N.V. via Thomson Reuters ONE

[HUG#1513120]

For further information please contact:
AMG Advanced Metallurgical Group N.V.
+1 610 975 4901
Jonathan Costello
Vice President of Corporate Communications
Email Contact

MarketWire

Comment on this story

Share