AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") announces that its Engineering Systems Division has acquired the remaining 50% of its nuclear joint venture, Furnaces Nuclear Applications Grenoble S.A. ("FN") for approximately EUR 3 million. FN was formerly a joint venture with a privately held French company. AMG will now consolidate these operations under the Engineering Systems Division.

Furnaces Nuclear Applications Grenoble S.A. designs and produces sintering systems for a number of nuclear applications. As previously announced, FN was recently awarded a contract with Shaw Areva MOX Services LLC for the detailed engineering of two sintering furnaces for the Shaw Areva MOX Fuel Fabrication Facility at the Savannah River Site, in Aiken, South Carolina, USA. These vacuum-type sintering systems will be used in the production of mixed oxide (MOX) uranium and plutonium nuclear fuel for light water reactors.

In addition to its sintering systems for nuclear fuels and the contract with Shaw Areva MOX Services LLC, Furnaces Nuclear Applications Grenoble S.A. has the world's leading vacuum furnace engineering team specializing in nuclear technologies. AMG intends to use FN as a platform for its further expansion into the growing nuclear energy field.