SinterCast Annual General Meeting 2014 - The SinterCast

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News Desk 2018

May 21, 2014 at 3:15 AM

SinterCast Annual General Meeting 2014

[Stockholm, 21 May 2014] - The SinterCast AB (publ) Annual General Meeting (AGM) was held on 20 May 2014 in Stockholm. During the AGM, presentations were provided by Mr Raffaele De Vivo, President of VM Motori North America, and by Dr Steve Dawson, President & CEO. The recorded presentations will be available on the SinterCast website on or before Monday 26 May. Mr De Vivo provided a warm and insightful introduction to VM Motori and its recent assimilation into the Fiat Group. He then provided an overview of the production experience and performance of the VM Motori 3.0 litre V6 diesel engine with a SinterCast-CGI bedplate and cylinder block. Mr De Vivo noted that the VM Motori diesel is one of the most versatile engines in the market, satisfying the need for power and refinement in luxury applications such as the Maserati Ghibli and Lancia Thema; the need for low-end torque and fuel economy in North American Jeep and Ram 1500 pick-up applications; and, the demands for performance and durability in marine applications. Mr De Vivo explained the dynamic and competitive nature of the North American pick-up market, with Chrysler, Ford and GM all constantly vying for market share, and provided a positive long-term outlook for the SUV and pick-up sectors. Mr De Vivo thanked SinterCast and its shareholders for contributing to VM Motori's receipt of a Wards Ten Best Engine award and to the VM Motori diesel engine's contribution to helping Ram become the second best-selling vehicle in North America. During the CEO presentation, Dr Dawson presented an overview of recent market activities and provided an outlook for SinterCast's potential market development. Dr Dawson's presentation showed that the annualised volume has increased by 30% since the last AGM, and that the average compound annual growth rate since 2007 is more than 20%. Dr Dawson also noted that the components that are currently in series production have a mature potential of more than 2.5 million Engine Equivalents and that further growth can be expected from each of the passenger vehicle, commercial vehicle and industrial power sectors. Dr Dawson presented the design of the first high volume CGI petrol engine and commented on the opportunity for a 'follower reaction' in passenger vehicle petrol and diesel engines. In closing, Dr Dawson confirmed that the increase in series production, the increased field activities, and the new installations, have provided a great sense of accomplishment and satisfaction among the SinterCast employees, and that all employees shared the longstanding goal of putting millions of SinterCast-CGI vehicles on the roads. During the AGM, Hans-Erik Andersson, Aage Figenschou, Robert Dover, Laurence Vine-Chatterton and Steve Dawson were re-elected as Board members. Hans-Erik Andersson was appointed as Chairman. Carina Andersson and Jason Singer were elected as new Board members. Ulla-Britt Fräjdin-Hellqvist, after serving as a member of the Board of Directors since 2002 and as Chairman since 2006, declined re-election, and was warmly thanked for her many contributions. The AGM also decided upon the constitution of the Nomination Committee until the next AGM, comprised of returning members Karl-Arne Henriksson (Chairman), Andrea Fessler and Ulla-Britt Fräjdin-Hellqvist. Hans-Erik Andersson was elected as a new member of the Nomination Committee. All of the proposals presented to the AGM were approved by the shareholders. For and on behalf of the Board of Directors: Steve Dawson President & CEO SinterCast AB (publ) Tel: +46 8 660 7750 e-mail: steve.dawson@sintercast.com SinterCast is the world's leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). With at least 75% higher tensile strength, 45% higher stiffness and approximately double the fatigue strength of conventional grey cast iron and aluminium, CGI allows engine designers to improve performance, fuel economy and durability while reducing engine size, weight, noise and emissions. The SinterCast technology, with 39 installations in 12 countries, is primarily used for the production of petrol and diesel engine cylinder blocks and exhaust components for passenger vehicles; medium-duty and heavy-duty cylinder blocks and heads for commercial vehicles; and, industrial power engine components for marine, rail, off-road and stationary engine applications. SinterCast's series production components range from 2 kg to 9 tonnes, all using the same proven process control technology. The SinterCast share is quoted on the Small Cap segment of the Stockholm NASDAQ OMX stock exchange (Stockholmsbörsen: SINT). For more information: www.sintercast.com END [HUG#1787373]

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