AMSTERDAM, Netherlands, July 1, 2014 (GLOBE NEWSWIRE) -- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") announces that AMG Titanium Alloys and Coatings ("AMG TAC") has been selected by SNECMA to provide titanium aluminides ("TiAl") for production of the CFM International LEAP engine.
TiAl combines the heat resistance aspects of nickel alloys with the lightweight characteristics of titanium. AMG's TiAl materials will be used to produce low-pressure turbine blades for the LEAP engine, which will be used in single aisle aircraft. These TiAl blades, resistant to very high temperatures (750° C), will replace nickel-based superalloys, reducing the mass and weight of the blades and creating a more efficient engine. This lightweight material will significantly contribute to the improved performance of this new engine, which will reduce fuel consumption by 15% compared to the best engine in its class.
AMG is currently supplying TiAl, and mass production is expected to begin in 2016. AMG TAC will invest in three new AMG Engineering ALD Vacuum Technologies furnaces in order to meet the contracted demand. The combined value of current and future supply exceeds $50 million.
AMG Titanium Alloys and Coatings is a world-leader in the production of advanced materials for the aerospace industry. AMG TAC is largest qualified provider of TiAl feedstock for all major commercial turbine engine manufacturers.
About AMG
AMG creates and applies innovative metallurgical solutions to the global trend of sustainable development of natural resources and CO2 reduction. 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 Processing develops and produces specialty metals, alloys, and high performance materials. AMG is a significant producer of specialty metals, such as ferrovanadium, ferronickel-molybdenum, aluminum master alloys and additives, chromium metal and ferrotitanium, for Energy, Aerospace, Infrastructure and Specialty Metal and Chemicals applications. Other key products include specialty alloys for titanium and superalloys, coating materials and vanadium chemicals.
AMG Engineering designs and produces advanced vacuum furnace systems, and operates vacuum heat treatment facilities, primarily for the Aerospace and Energy (including solar and nuclear) industries. Furnace systems produced by AMG include vacuum remelting, solar silicon melting and crystallization, vacuum induction melting, vacuum heat treatment and high pressure gas quenching, turbine blade coating and sintering. AMG also provides vacuum case-hardening heat treatment services on a tolling basis.
AMG Mining produces critical materials utilizing its secure raw material sources in Africa, Asia, Europe, and South America. AMG Mining produces critical materials such as high purity natural graphite, tantalum, antimony and silicon metal. These materials are of significant importance to the global economy and are available in limited supply. End markets for these materials include electronics, energy efficiency, green energy, and infrastructure.
With over 3,000 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, Czech Republic, United States, China, Mexico, Brazil, Turkey, Poland, India, and Sri Lanka, and has sales and customer service offices in Russia, and Japan ( www.amg-nv.com ).
For further information, please contact:
AMG Advanced Metallurgical Group N.V. +1 610 975 4901
Jonathan Costello
Vice President of Corporate Development and Communications
jcostello@amg-nv.com
Disclaimer
Certain statements in this press release are not historical facts and are "forward looking". Forward looking statements include statements concerning AMG's plans, expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans and intentions relating to acquisitions, AMG's competitive strengths and weaknesses, plans or goals relating to forecasted production, reserves, financial position and future operations and development, AMG's business strategy and the trends AMG anticipates in the industries and the political and legal environment in which it operates and other information that is not historical information. When used in this press release, the words "expects," "believes," "anticipates," "plans," "may," "will," "should," and similar expressions, and the negatives thereof, are intended to identify forward looking statements. By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that the predictions, forecasts, projections and other forward looking statements will not be achieved. These forward looking statements speak only as of the date of this press release. AMG expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statement contained herein to reflect any change in AMG's expectations with regard thereto or any change in events, conditions, or circumstances on which any forward looking statement is based.
1 July 2014 http://hugin.info/138060/R/1808470/624140.pdf
HUG#1808470
