AMG Subsidiary Timminco Confirms Extension of Solar Grade Silicon ...

Tag : melting metals

AMSTERDAM, NETHERLANDS -- (MARKET WIRE) -- 07/30/08 -- AMG AdvancedMetallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") todayannounced that its 50.5% subsidiary Timminco Limited's ("Timminco"; TSX:TIM ) existing solar grade silicon supply agreement between itswholly-owned subsidiary, Bécancour Silicon Inc. ("BSI"), andQ-Cells AG ("Q-Cells"; QCE: Frankfurt Stock Exchange) has beenformally extended for 2010 through 2013, with deliveries of 6,000metric tons per year, as anticipated in the initial announcement ofthe agreement on March 26, 2008. Pricing for deliveries in theyears 2008 to 2010 is fixed, and for the years 2011 to 2013 will bebased upon market conditions, within a fixed floor to ceiling pricerange. Q-Cells is the world's largest manufacturer of solar cells.
About AMG
AMG, incorporated in the Netherlands, is a global leader in theproduction of highly engineered specialty metal products andadvanced vacuum furnace systems. AMG serves growing industriesworldwide with its unique combination of metallurgical engineeringexpertise and production know-how. AMG is a market leader in manyof its products and systems, which are critical to the productionof key components for the aerospace, energy (including solar andnuclear), electronics, optics, chemicals, construction andtransportation industries. AMG has two operating divisions ofbusinesses, Advanced Materials and Engineering Systems, and ownsmajority interests in publicly-listed companies Timminco Limited(TSX: "TIM") and Graphit Kropfmühl AG (Deutsche Börse: GKR.DE).
The Advanced Materials Division develops and produces nichespecialty metals and complex metals products, many of which areused in demanding, safety-critical, high-stress environments. AMGis one of a limited number of significant producers globally ofniche specialty metals, such as ferrovanadium,ferronickel-molybdenum, aluminum master alloys and additives,chromium metal and ferrotitanium, used by steel, aluminum, chemicaland superalloy producers for aerospace, automotive, energy,electronics, optics, chemicals, construction and otherapplications. Other key products produced by AMG include specialtyalloys for titanium and superalloys, coating materials, tantalumand niobium oxides, vanadium chemicals and antimony trioxide.
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 in theaerospace, energy (including solar and nuclear), transportation,electronics, superalloys and specialty steel industries. Examplesof furnace systems produced by AMG include vacuum remelting, solarsilicon melting and crystallization, vacuum induction melting,vacuum heat treatment and high pressure gas quenching, vacuumprecision casting, turbine blade coating and sintering. AMG alsoprovides vacuum case-hardening heat treatment services on a tollingbasis to customers through facilities equipped with vacuum heattreatment furnaces.
Timminco Limited is a majority controlled, publicly listedsubsidiary of AMG. Timminco is a leader in the production ofupgraded metallurgical silicon for the rapidly growing solarphotovoltaic energy industry. Timminco also produces silicon metaland magnesium products for use in a broad range of industrialapplications.
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 of energysaving 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 ).
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