AMG Announces Long-Term Spent Catalyst Recycling Agreement and Recycling Capacity Expansion

AMG Advanced Metallurgical Group (“AMG”, EURONEXT AMSTERDAM: “AMG”) is pleased to announce that AMG Vanadium has signed a long-term multi-year agreement, with an existing customer, to process and recycle spent catalysts from a major oil refinery in North America.

In order to meet increasing demand from both existing and new customers, AMG has approved the expansion of its spent catalyst recycling operations. The total investment is estimated at $35 million and will primarily involve the installation of a new flue gas desulfurization unit at AMG Vanadium’s facility in Cambridge, Ohio. AMG expects to complete the expansion by the end of 2019 and once completed, AMG Vanadium’s spent catalyst recycling capacity will increase by approximately 30%. The expansion is subject to environmental permitting, which is expected to be completed in the third quarter 2018.

Mr. Hoy Frakes, President of AMG Vanadium, said:

“As the largest producer of ferrovanadium in North America, the expansion will solidify our existing market position and enable AMG Vanadium to better meet our customers’ future requirements.

In addition, the expansion of our spent catalyst recycling operations in Cambridge, Ohio, will allow AMG Vanadium to continue to provide our partners with an industry-leading environmental solution for their spent catalyst recycling needs as their requirements grow.”

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