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ADVANCED MATERIALS
AMG produces high value added specialty metal products and
engineering solutions used to reduce CO 2 and conserve natural resources.
Using secure raw material strategies, industry consolidation
and investments in technology, AMG provides metallurgical solutions
for responsible energy production, infrastructure, light weight materials
for aerospace and the specialty metals and chemicals markets.
AMG Share Price January 1, 2010—March 31, 2011
8.84
$187.2 million increase in revenue, up 44%, from 2009
$39.8 million increase in EBITDA
Acquired:
• antimony mining rights and metal smelter in Turkey
• a commercial operation in India during early 2011
to expand AMD’s geographic presence
• aluminum master alloy producer KB Alloys during
early 2011
Expanded spent catalyst handling capacity and diversified
spent catalyst sourcing in North America
Completed:
• the lithium mineral pilot plant in Brazil
• long-term sales contracts for tantalum concentrate
in early 2011
Publicly listed investments:
GRAPHIT KROPFMÜHL AG
$10.7 million increase in revenue, up 9% from 2009
$1.3 million increase in EBITDA, up 21% from 2009
AMG acquired an additional 8.5% of Graphit Kropfmühl
in December 2010, increasing its ownership position
to 88.0%
g74%
ENGINEERING SYSTEMS
15% EBITDA margins generated despite a decline in revenue
13% increase in order backlog at December 2010 from
December 2009
Acquired:
• an equity interest in Dynatech Furnaces (Mumbai) Private
Ltd, a vacuum technologies company in India to increase
ESD’s market presence
• the innovative Mono2 solar technology from BP Solar,
to produce monocrystalline-like ingots using traditional
multicrystalline furnaces
• an equity interest in nuclear furnace specialist Thermique
Industrie Vide, France
Developed:
• the next generation of DSS solar furnaces, the SCU600plus,
capable of approximately 30% lower operating costs per
kilogram of silicon and therefore lower cost of solar energy
• a new heat treatment system, SyncroTherm ®, which can
reduce operating costs through combining multiple step
processes into one operation
TIMMINCO LIMITED
Timminco sold 49% of its silicon metal operation to Dow
Corning for $40.1 million in cash and up to an additional
$10.0 million based upon hitting certain performance
objectives. Timminco used the proceeds of this transaction
to repay all of its senior bank debt and for other general
corporate purposes.
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