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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY IN OR
INTO THE UNITED STATES, CANADA, AUSTRALIA, OR JAPAN.
AMG Increases Ownership Position in Timminco
Amsterdam, 23 July 2007, AMG Advanced Metallurgical Group N.V. (“AMG”,
Euronext: AMG) today announced it increased its ownership position in Timminco
Limited (“Timminco”, TSX: TIM.TO) to 50.6% by exercising its call option to acquire
913,500 Timminco common shares from Safeguard International Fund, L.P. (“Safeguard
International”).
The exercise of the call option is consistent with AMG’s stated objective of securing its
majority ownership position in Timminco. As a result of recent exercises of options by
Timminco employees, AMG’s ownership in Timminco has been reduced to 50.1%. To
ensure majority control, AMG exercised its call option under its existing agreement with
Safeguard International. Following the exercise, AMG retains call option rights on
approximately 17.6 million Timminco common shares under this agreement.
AMG will pay Safeguard International C$5.68 per Timminco common share, which is
equal to the closing price on 20 July 2007 as quoted on the Toronto Stock Exchange. The
aggregate purchase price for the Timminco common shares is C$5.2 million or
approximately US$5.0 million.
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 utilises 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 organised into two business units:
Advanced Materials and Engineering Systems. In 2006, AMG’s revenue and EBITDA
amounted to US$927.8m and US$72.3m respectively.
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: http://www.amgnv.com).
About Safeguard International
Safeguard International is a private equity fund which was formed to make acquisitions
of technology-oriented metallurgical businesses in North and South America and Western
Europe (website: http://www.safeguardintl.com).
For further information please contact:
AMG Advanced Metallurgical Group N.V. +1 610 975 4909
Arthur Spector
Deputy Chairman of the Management Board
Brunswick Group LLP +44 (0)20 7404 5959
Kate Holgate
Carole Cable
Michael Fuchs
Disclaimer
This document is not an offer of securities for sale in the United States. The shares of the Company
are not being registered under the US Securities Act of 1933 as amended (the “Securities Act”), and may
not be offered or sold in the United States unless registered under the Securities Act or pursuant to an
exemption from such registration. No public offer of the shares is being made in the United States and the
information contained herein does not constitute an offering of securities for sale in the United States,
Canada, Australia or Japan. This document is not for distribution directly or indirectly in or into the United
States, Canada, Australia or Japan or to US persons. No money, securities or other consideration is being
solicited and, if sent in response to the information contained herein, will not be accepted."