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Amsterdam, 6 May 2011 ---
AMG Advanced Metallurgical Group N.V., (“AMG”,
EURONEXT AMSTERDAM: “AMG”) based upon a request by its subsidiary, AMG
Vanadium, to the U.S. Department of Commerce (the “Department”), was notified that
the Department has initiated an anticircumvention inquiry covering vanadium pentoxide
from Russia that is being converted into ferrovanadium in the United States.
U.S. law
provides this remedy when merchandise is imported and further processed in order to
circumvent an antidumping order protecting a U.S. domestic industry and its workers.
The Department found sufficient evidence to warrant initiating a circumvention inquiry,
including evidence indicating that the ferrovanadium sold in the United States is the same
class or kind of merchandise as the ferrovanadium covered by the order, that the
ferrovanadium sold in the U.S. is produced from vanadium pentoxide imported from
Russia and further processed in the United States, and that the further processing of
Russian vanadium pentoxide into ferrovanadium in the United States is a minor or
insignificant process.
AMG Vanadium expects the anticircumvention inquiry to confirm these facts and to
result in the imposition of antidumping duties on the imports circumventing the order.
AMG Vanadium is a leading North American producer of ferrovanadium.
It uses an
environmentally friendly proprietary technology for the recycling of spent refinery
catalysts to produce ferrovanadium and ferronickel-molybdenum at its facility in Ohio,
About AMG
AMG creates and applies innovative metallurgical solutions to the global trend of sustainable development
of natural resources and CO
AMG produces highly engineered specialty metal products and
advanced vacuum furnace systems for the Energy, Aerospace, Infrastructure and Specialty Metals and
Chemicals end markets.
AMG consists of two operating divisions, Advanced Materials and Engineering
Systems, and owns interests in publicly-listed companies Graphit Kropfmühl AG (Deutsche Börse:
GKR.DE) and Timminco Limited (TSX: “TIM”).
The Advanced Materials Division develops and produces specialty metals, alloys and high performance
materials. AMG is a significant producer of specialty metals, such as ferrovanadium, ferronickel-
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