Apr 29 2013
AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") announces that AMG Aluminum has entered into a definitive agreement to sell its 45% equity interest in Nanjing Yunhai KB Alloys Co., Ltd ("YKB") to Nanjing Yunhai Special Metals Co., Ltd. The transaction is expected to close during the second quarter of 2013.
This is the next step in AMG Aluminum's strategy to streamline its organization and seamlessly support its global customers, particularly in the Asia Pacific region. AMG Aluminum will continue to serve this region through its wholly owned subsidiary, AMG Aluminum China, which is located in Jiaxing, China.
AMG Aluminum is the world-leading provider of aluminum master alloys and grain refiners for the aluminum industry. With over 350 employees and five ISO 9001 manufacturing plants in Brazil, China, the United Kingdom, and the United States, AMG Aluminum offers a comprehensive range of products including grain refiners, hardeners, tablets/compacts, strontium modifiers, specialty alloys, mechanical alloys, and chemicals and fluxes for the global aluminum industry. "The sale of YKB will enable AMG Aluminum to directly serve the growing Asia Pacific region with high quality products and world class technical capabilities that customers associate with AMG Aluminum", said Julien Crisnaire, President of AMG Aluminum.
Source: http://www.amg-nv.com/