Amsterdam, 31 December 2018 (Regulated Information) --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") is pleased to announce that Guido Löber has been named Chairman of the Management Board of AMG Technologies. This position will be in addition to his current responsibilities as President of AMG Titanium Alloys. He will be joined on the Management Board by Markus Holz, who will continue to act as the President of AMG Engineering, as well as by Steve Daniels, who will act as the CFO of AMG Technologies.
As previously announced, AMG's new operating division, AMG Technologies, will be a reportable segment replacing AMG Engineering.
Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, "Beginning with the AMG IPO in 2007, we stressed the importance of combining engineering and operations know-how in order to accelerate innovations in advanced metallurgy. In a major step early on we offered novel vacuum heat treatment technologies not only as a supplier of furnaces but also as a heat treatment service to our automotive customers. Subsequent to that development, AMG Titanium Alloys achieved a major break-through in new aerospace engine materials based on the combination of vacuum furnace engineering and operations know-how, commercializing titanium aluminide as well as titanium aluminide powder for additive manufacturing. This project and others have increased the cooperation between Hanau and Nuremberg, the corporate centers of AMG Engineering and AMG Titanium Alloys, respectively. We predict that the combination of these two entities under one management team will deliver substantial value for our customers and for all AMG stakeholders."
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).