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Annual Report 2008 - AMG Advanced Metallurgical Group NV

Annual Report 2008 - AMG Advanced Metallurgical Group NV

1. Summary of

1. Summary of significant accounting policies The parent company financial statements have been prepared in accordance with Part 9, Book 2 of the Netherlands Civil Code, as generally accepted in the Netherlands. The accounting policies used in the financial statements are similar to the accounting policies used in the Consolidated Financial Statements, with the exception of financial fixed assets. Subsidiaries are valued at their net equity value, including allocated goodwill. As of December 31, 2008, the balance sheet has been converted to USD from Euros using a balance sheet conversion rate of EUR:USD of 1.3919. (2007: 1.4603) Subsidiaries included in the consolidated financial statements of the Company are as follows: Percentage Held Percentage Held (Directly or Indirectly) (Directly or Indirectly) by Company by Company Name Country of Incorporation December 31, 2008 December 31, 2007 ABS Apparate-und Behälterbau Staßfurt GmbH Germany 24.96 24.96 ALD Holcroft Vacuum Technologies Co. United States 50 50 ALD Lindgren Inc. Canada 100 100 ALD Industrie-und Montagepark Staaken GmbH Germany 51 51 ALD Own & Operate GmbH Germany 100 100 ALD Technologies Polska S.z.o.o Poland 100 100 ALD Thermal Treatment, Inc. United States 100 100 ALD Thermo Technologies Far East Co., Ltd. Japan 100 100 ALD Tratamientos Termicos S.A. Mexico 100 100 ALD Vacuum Technologies GmbH Germany 100 100 ALD Vacuum Technologies Inc. United States 100 100 ALD Vacuum Technologies Ltd. United Kingdom 100 100 ALD Vakuumnyje Technologii OOO Russia 100 100 Alpoco Developments Limited United Kingdom 100 100 AMG Advanced Metallurgical Group Investment BV Netherlands 100 – AMG Coating Technologies GmbH Germany 100 100 AMG DLC Coating GmbH Germany 50 50 AMG Invest GmbH Germany 100 – Aurora Partnership United States 50.34 50.54 Bécancour Silicon Inc. Canada 50.34 50.54 Benda-Lutz-Alpoco Sp.z o.o. Poland 51 51 Bogala Graphite Lanka Ltd. Sri Lanka 79.52 – Bostlan Spain 25 25 Branwell Graphite Ltd. United Kingdom 79.52 – Castle Crushing Limited United Kingdom 100 100 Silmag DA Norway 50 – Companhia Industrial Fluminense Brazil 100 100 Korin Grundstücksgesellschaft GmbH & Co. Projekt 30 KG Germany 94.9 94.9 Fundo Holdings AS* Norway 50.34 50.54 Fundo Wheels A.S. Norway 50.34 50.54 Edelgraphit GmbH Germany 79.52 – EsteR-Technologie GmbH Germany 50.2 50.2 EsteR-Separation GmbH Germany 30.1 30.1 FNE Forschungsinstitut für Nichteisen-Metalle Freiberg GmbH Germany 100 100 Fremat GmbH & Co. KG Germany 100 100 Zentrum für Material- und Umwelttechnik GmbH Germany 100 100 Furnaces Nuclear Applications Grenoble S.A. France 100 50 GfE Gesellschaft für Elektrometallurgie mbH Germany 100 100 GfE Materials Technology United States 100 100 GfE Metalle und Materialien GmbH Germany 100 100 GfE Unterstützungskasse GmbH Germany 100 100 G t Alloys Germany 100 100 Graphit Kropfmühl AG Germany 79.52 – Graphite Tỳn spol. s r.o. Czech Republic 79.52 – Graphitwerk Kropfmühl Beteiligungs GmbH Germany 79.52 – H.M.I. Limited United Kingdom 100 100 Industrial Adhesives Limited Canada 50.34 50.54 144 Notes to the Parent Company Financial Statements

Percentage Held Percentage Held (Directly or Indirectly) (Directly or Indirectly) by Company by Company Name Country of Incorporation December 31, 2008 December 31, 2007 London & Scandinavian Metallurgical Co Limited United Kingdom 100 100 LSM (Jiaxing) Co China 100 – Metal Alloys (South Wales) Limited United Kingdom 100 100 Metalloys Limited (dormant) United Kingdom 100 100 Metallurg Delaware Holding Company United States 100 100 Metallurg Europe Limited United Kingdom 100 100 Metallurg European Holdings LLC United States 100 – Metallurg Holdings Corporation United States 100 100 Metallurg Holdings Inc. United States 100 100 Metallurg, Inc. United States 100 100 Metallurg International Holdings LLC United States 100 – Metallurg Mexico Mexico 100 100 Metallurg Servicios Mexico 100 100 Metallurg Vanadium Corporation United States 100 100 Mutual Sources Ltd. China 79.52 – M. & A. Powders Limited (dormant) United Kingdom 100 100 NorWheels AS* Norway 50.34 50.54 Pertus Zwoelfte GmbH Germany 100 100 Produits Chimiques de Lucette S.A France 100 100 Qingdao Kropfmühl l Graphite Co., Ltd. China 79.52 – Qingdao Kropfmühl Trading Co., Ltd. China 79.52 – RW silicium GmbH Germany 79.52 – S.A. Vickers Limited (dormant) United Kingdom 100 100 Share Investment Pvt. Ltd. Sri Lanka 79.52 – Shieldalloy Metallurgical Corporation United States 100 100 Société Industrielle et Chimique de l’Aisne France 100 100 Sudamin France S.A.S France 100 100 Sudamin Holdings S.A. Belgium 100 100 Sudamin IT S.A. France 100 – Sudamin S.A. Belgium 100 100 Technologie-und Gründer-zentrum GmbH Germany 2.5 2.5 The Aluminium Powder Company Limited United Kingdom 100 100 Timminco Adhesives Corporation United States 50.34 50.54 Timminco Colorado Corporation United States 50.34 50.54 Timminco Corporation United States 50.34 50.54 Timminco de Mexico S.A. de CV Mexico 50.34 50.54 Timminco Holdings Corporation United States 50.34 50.54 Timminco Limited Canada 50.34 50.54 Timminco Properties Inc. United States 50.34 50.54 Timminco Pty Limited Australia 50.34 50.54 Timminco S.A. Switzerland 50.34 50.54 Timminco Technologies Corporation United States 50.34 50.54 VACUHEAT GmbH Germany 100 100 VACUHEAT Verwaltungs GmbH Germany 100 100 Zimbabwe German Graphite Mines Pvt. Ltd. Zimbabwe 79.52 – * Fundo Holdings AS and Nor-Wheels AS are 45.3% owned by Timminco, for which the Company owns 50.34%. Therefore, the Company indirectly holds 22.8% of these companies. Bogala Graphite is owned by Graphit Kropfmühl, for which the Company owns 79.52%. Therefore, the Company indirectly holds 70.2% of this company. Notes to the Parent Company Financial Statements 145

PDF 3.89 MB - AMG Advanced Metallurgical Group NV
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