AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") announced that its 50.6% owned subsidiary Timminco Limited ("Timminco"; TSX: TIM), through its wholly-owned subsidiary, Bécancour Silicon Inc. ("BSI") has announced that BSI has entered into an agreement to sell solar grade silicon to a solar cell manufacturer. The agreement provides for shipments of approximately 4,400 metric tons over a term of five years.
This agreement represents BSI's fourth long-term commercial contract for the sale of high purity silicon. The total annual production volume under these four contracts is expected to be approximately 6,000 metric tons beginning in 2009. This volume will require production capacity expansion beyond the 3,600 metric ton production facility that BSI currently is constructing in Bécancour, Québec. That facility has commenced production on the first of three production lines.
"This contract represents an important step in increasing our customer base. Our ability to attract solar cell manufacturers as customers reflects the quality of the solar grade silicon material that we have been able to produce in our initial purification facility. This fourth contract strengthens the business case for significant additional expansion of our production capacity to meet anticipated volume requirements starting in 2009. Our plans for this additional capacity expansion will be announced separately." said Mr. René Boisvert, President and CEO of BSI.
About AMG
AMG, incorporated in the Netherlands, is a leading global specialty materials company offering highly engineered metallurgical products and advanced vacuum furnace systems to a broad range of end markets. AMG utilizes its proprietary know-how to supply sophisticated metals and materials through its production and sales activities in 12 countries on five continents. In addition, AMG designs, engineers and produces advanced vacuum furnace systems for growing industries globally. AMG's metallurgical expertise has enabled it to capture leading market positions for many of its products and systems. Most of AMG's products and systems are critical to the production of key components for the aerospace, energy (including solar and nuclear), electronics, optics, chemicals, construction and transportation industries. AMG is organized into two business units: Advanced Materials and Engineering Systems.
The Advanced Materials unit develops and produces niche specialty metals and complex metals products, many of which are used in demanding, safety-critical, high-stress environments. AMG is one of a limited number of significant producers globally of niche specialty metals, such as ferrovanadium, ferronickel-molybdenum, ferrotitanium, aluminium master alloys and additives, silicon metal (including solar grade), chromium metal and magnesium alloys, used by steel, aluminium, silicones and superalloy producers for aerospace, energy, electronics, optics, chemicals, construction and transportation applications.
The Engineering Systems unit designs, engineers and produces advanced vacuum furnace systems and operates vacuum heat treatment facilities. AMG sells vacuum furnace systems to customers in the aerospace, energy (including solar and nuclear), transportation, electronics, superalloys and specialty steel industries.
AMG operates globally with production facilities in Germany, the United Kingdom, France, the United States, Canada, Mexico, Brazil and Australia and also has sales and customer service offices in Belgium, Russia, China and Japan (website: www.amg-nv.com).
Ander bericht,
AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") announced that its 50.6% owned subsidiary Timminco Limited ("Timminco"; TSX: TIM), through its wholly-owned subsidiary, Bécancour Silicon Inc. ("BSI"), has commenced production of solar grade silicon on the first production line in its new facility in Bécancour, Québec. That facility will be comprised of three production lines, each with an annual capacity of 1,200 metric tons, for a total of 3,600 metric tons. The production lines are being brought into production in series, with the second and third lines anticipated to be coming on stream in the first quarter of 2008.
"This is the day we have been anticipating for over a year," said Mr. René Boisvert, President and CEO of BSI. "We are extremely proud of the effort of our engineering and supporting staff who have executed the construction and commissioning of the plant and equipment to a very tight schedule."
