AMG affiliate Timminco completes second tranche of equity financing

AMG Advanced Metallurgical Group N.V.’s (EURONEXT AMSTERDAM: “AMG”) affiliate Timminco Limited (TSX: TIM) reported that, further to its news release of May 13, 2010, it has completed the second of three tranches of its private placement equity offering, which is expected to generate total gross proceeds of approximately C$13.1 million.

The press release is quoted as saying:

AMG is one of a limited number of significant producers globally of niche specialty metals, such as ferrovanadium, ferronickel-molybdenum, aluminum master alloys and additives, chromium metal and ferrotitanium, used by steel, aluminum, chemical and superalloy producers for aerospace, automotive, energy, electronics, optics, chemicals, construction and other applications.

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