C Si Ni Cr V Ti Ta Sc Li Sr Zr Fe Cu Zn Sn B Al Ce U Mn Mo Nb Sb

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equire monitoring of wastewater and potential clean-up to be performed at one of the French subsidiary’s plant sites in Chauny. Although the extent of these issues is not yet known, there is a possibility that the Company could incur remediation costs approximating $1,000. At a US subsidiary, a provision has been recorded for the lowlevel radioactive slag pile (see note 27) which assumes that the Company will be able to remediate the pile using a long-term control license. In 2009, the governing party responsible for this site changed and the new governing party determined that this remediation is not satisfactory and is requesting the Company to remediate using a second alternative. The second alternative is an offsite disposal alternative which could potentially cost up to $70,000. The Company challenged this decision and the court agreed with the Company that the new governing party did not have the ability to change the plan which has previous approval. Although the second alternative is still possible, it is a more remote possibility given the ruling by the court. In 2010, a US subsidiary was named as a potentially responsible party in the Macalloy Superfund site in South Carolina. The total claim for the site is $1,200 but it is unclear how many potentially responsible parties (“PRPs”) will be identified. Currently, the Company is aware of three PRPs but additional PRPs are expected to be identified. Based on the claim and the known number of viable PRPs, the maximum exposure for this case is $400. The Company has not recorded a liability at December 31, 2010 due to the limited information provided by the environmental authorities and several mitigating factors identified in the case. Litigation In addition to the environmental matters, which are discussed above and in note 27, the Company and its subsidiaries defend, from time to time, various claims and legal actions arising in the normal course of business. Management believes, based on the advice of counsel, that the outcome of such matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. There can be no assurance, however, that existing or future litigation will not result in an adverse judgment against the Company that could have a material adverse effect on the future results of operations or cash flows. 134 Notes to Consolidated Financial Statements Contingencies of associates and joint ventures Timminco and certain of its directors and officers, as well as certain third parties, have been named as defendants in a potential class action lawsuit filed in the Ontario Superior Court of Justice on May 14, 2009. This lawsuit was commenced by the plaintiff Ravinder Kumar Sharma on behalf of shareholders who acquired Timminco’s common shares between March 17, 2008 and November 11, 2008 and claims damages exceeding $540 million. The plaintiff alleges that Timminco and others made certain misrepresentations about the Company’s solar grade silicon production process. There has been no provision made for these matters in Timminco’s accounts as of December 31, 2010. AMG and Timminco each have insurance policies which will provide for reimbursement of costs and expenses incurred in connection with the lawsuit, including legal and professional fees, as well as damages awarded, if any, subject to certain policy limits and deductibles. Timminco intends to vigorously defend these allegations and the plaintiff’s attempt to get court approval to proceed. However, no assurance can be given with respect to the ultimate outcome of the proceedings, and the amount of any damages awarded in such lawsuits could be substantial. Silmag DA is currently in the process of determining whether it will owe any value added tax in Norway. The Company received a start-up company exemption, but the exemption may expire if the venture fails. This is currently still under investigation, but the Company’s share of this potential liability could approximate $2,016. 36. Related parties Transactions with key management personnel Key management personnel compensation As at December 31, 2010 and 2009, Dr. Schimmelbusch is the Chief Executive Officer for the Company, and in his position receives salary, benefits and perquisites from the Company. Mr. Spector left the employ of the Company on September 30, 2009. In addition to their salaries, the Company also provides non-cash benefits to directors and executive officers, and contributes to a post-employment defined benefit plan on their behalf.
The compensation of the management board of the Company comprised: For the year ended December 31, 2010 Salaries and bonus Option compensation Performance share units Post- employment benefits including contributions to defined contribution plans Other remuneration (b) Total Dr. Heinz Schimmelbusch (a) 2,461 1,081 854 314 87 4,797 Eric Jackson 1,250 398 256 973 49 2,926 Dr. Reinhard Walter 1,222 398 256 358 17 2,251 William J. Levy 973 340 171 644 23 2,151 Total 5,906 2,217 1,537 2,289 176 12,125 For the year ended December 31, 2009 Salaries and bonus Option compensation Performance share units Post- employment benefits including contributions to defined contribution plans Other remuneration (b) Total Dr. Heinz Schimmelbusch (a) 1,293 2,004 1,056 561 44 4,958 Arthur Spector 730 259 – 611 – 1,600 Eric Jackson 676 862 317 178 31 2,064 Dr. Reinhard Walter 699 880 317 43 23 1,962 William J. Levy 527 755 211 33 33 1,559 Total 3,925 4,760 1,901 1,426 131 12,143 (a) Dr. Schimmelbusch also received compensation in 2010 and 2009 from Graphit Kropfmühl in his capacity as Supervisory Board member in the amount of $40 and $50, respectively. (b) Other remuneration also includes car expenses, country club dues and additional insurance paid for by the Company. Each member of the management board has an employment contract with the Company which provides for severance in the event of termination without cause. The maximum severance payout is limited to two years base salary and two years of target annual bonus. During the year ended December 31, 2009, the Deputy Chairman of the Company, Mr. Spector left the employ of the Company. As compensation, Mr. Spector’s separation agreement requires the following payments: • From the US subsidiary, payments totaling $1,400 in the year ended December 31, 2010 • From the Dutch company, payments totaling 10.6 million starting in 2010 and ending in 2011 • Initiation of supplemental executive retirement plan from the US subsidiary in the amount of $500 per annum beginning in November 2010 Notes to Consolidated Financial Statements 135
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Li 6.9 LITHIUM Sc 45.0 Ti 47.9 Sr Z
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Silicon Metal—used for solar ener
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ADVANCED MATERIALS AMG produces hig
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It is a strategic objective of AMG
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We continue to focus on products an
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Supply Risk Critical Raw Materials
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carbon steel electronics superalloy
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Silicon Metal—used in the product
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N Nickel & Molybdenum- used in high
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Chromium —alloy used to produce s
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Sb Antimony—added to plastics as
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Dr. Schimmelbusch was appointed Chi
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The Advanced Materials Division’s
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Outlook Regional Breakdown Antimony
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Although the market environment for
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value proposition to ESD’s market
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Graphit Kropfmühl Graphit Kropfmü
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Risk Management and Internal Contro
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Senior Leverage covenant to 3.00x.
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Management Board Statement of Respo
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Male/US and Peru Date of birth: Oct
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Supervisory Board discussed the ris
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The Selection and Appointment Commi
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AMG OPTION PLAN (ALL CURRENCy AMOUN
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adjustment is not needed. The Super
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Sustainable Development AMG FACILIT
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association or collective bargainin
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Greenhouse Gas Emissions (thousands
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Global Reporting Initiative AMG sup
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Corporate Governance General AMG Ad
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the Management Board has a conflict
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Other than the above-mentioned agre
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Financial Review Year ended Decembe
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In thousands of US Dollars Period e
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Financial Statements Financial Stat
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Consolidated Statement of Comprehen
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Consolidated Statement of Changes i
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Notes to the Consolidated Financial
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Percentage held (directly or indire
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Measurement of the recoverable amou
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All financial information is presen
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(d) Derecognition of financial asse
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Page 87 and 88: joint venture is impaired. If this
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Page 91 and 92: The carrying amount of deferred tax
Page 93 and 94: 4. Segment reporting For management
Page 95 and 96: Year ended December 31, 2009 Revenu
Page 97 and 98: Acquisition of mine in Turkey On Au
Page 99 and 100: 10. Finance income and expense 2010
Page 101 and 102: Deferred tax assets and liabilities
Page 103 and 104: 13. Property, plant and equipment C
Page 105 and 106: 14. Intangible assets Cost Goodwill
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Page 109 and 110: For the entities which are joint ve
Page 111 and 112: 19. Restricted cash Restricted cash
Page 113 and 114: number of shares is then compared w
Page 115 and 116: subsidiaries with respect to the re
Page 117 and 118: Assumptions regarding future mortal
Page 119 and 120: Movement in fair value of plan asse
Page 121 and 122: At December 31, 2009, the number of
Page 123 and 124: as responsible for the clean-up ass
Page 125 and 126: 29. Other liabilities Other liabili
Page 127 and 128: Interest on financial instruments c
Page 129 and 130: Change in price Effect on profit be
Page 131 and 132: Fair value hierarchy The Company us
Page 133 and 134: The open foreign exchange forward s
Page 135: 34. Capital commitments The Company
Page 139 and 140: Loans and Receivables On December 1
Page 141 and 142: AMG Advanced Metallurgical Group, N
Page 143 and 144: 3. Intangible assets Intangible ass
Page 145 and 146: 7. Receivables from associates and
Page 147 and 148: The following is the calculation of
Page 149 and 150: Other Information Article 25 and 26
Page 151 and 152: Shareholder Information Supervisory
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C Si Ni Cr V Ti Ta Sc Li Sr Zr Fe Cu Zn Sn B Al Ce U Mn Mo Nb Sb

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