EANS-News: AMAG acquires majority share of the German Aircraft Philipp Group - IMAGE
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
--------------------------------------------------------------------------------
Mergers - Acquisitions - Takeovers
Ranshofen -
* Acquisition of 70 % share of the Aircraft Philipp Group (ACP) headquartered in
Übersee / Chiemsee, Germany
* Further step in the implementation of the AMAG specialty product strategy
* ACP is an expert in the mechanical machining of aluminum and titanium for the
aerospace industry
* The ACP product and services portfolio holds potential for expansion into
additional sectors and applications
* Key objective: establishing a sustainable value creation chain by combining
primary material production and recycling at AMAG with the processing and
machining at ACP
* Conclusion of transaction expected for late autumn
AMAG Austria Metall AG is acquiring a 70 % share of the German company Aircraft
Philipp Gruppe (ACP) headquartered in Übersee / Chiemsee. ACP amounts 50 years
of experience in the manufacture of assembly-ready metal parts for the aviation
and aerospace industry. ACP achieved a revenue of EUR 50 million in 2019. The
mechanical machining and processing of aluminum and titanium represents ACP's
core competence. ACP manufacturing locations are situated in Übersee / Chiemsee
and Karlsruhe, Germany with a workforce in excess of 200 employees.
"We are pleased to be integrating such a first-class company as ACP into the
AMAG Group. AMAG and ACP are established suppliers to the aviation industry, and
thereby well positioned to meet the most stringent demands on quality and
schedule and delivery performance," as Gerald Mayer, CEO of AMAG Austria Metall
AG underlined.
With the acquisition of the ACP's shares majority, AMAG is now extending value
creation in the direction of mechanical processing (such as milling and
drilling) and the manufacturing of special components. This combination, with
the acknowledged AMAG competencies of areas of rolling, casting and recycling,
represents an unique sustainable value chain. This comprises of the resource-
saving closed-loop-recycling[1] of plate off-cuts and chips[2] resulted from
milling processes, as well as an improved buy-to-fly-ratio[3] and optimized
logistics along the entire value chain, resulting in a considerably reduced CO2-
footprint.
"AMAG is an innovative premium supplier of aluminium flat rolled products made
of sustainably produced primary material and a focus on specialty products. With
the acquisition of ACP we are extending the AMAG value chain to the benefit of
our customers. For the first time, in addition to rolled, semi-finished
products, we are now also offering mechanically processed finished products.
Based on a stable ownership structure, the aim is to further expand the joint
product portfolio and in the future to also make these offerings available to
additional sectors and industries," as Gerald Mayer, CEO of AMAG Austria Metall
AG, outlined.
The takeover is expected to be concluded in late autumn. The Aircraft Philipp
Group will be retained as an entity and will operate and be managed as an
independent company of the AMAG Group. Rolf Philipp, the sole owner to date will
retain a 30 % of the joint company and will be involved in further strategic
developments in the aviation sector.
[1] Closed-loop-recycling refers to closed material cycles and the best possible
utilization of resources
[2] In the manufacture of complex metal parts from a single workpiece involving
milling, for example, a great part of the material is removed. The chips and
off-cuts are recycled accordingly.
[3] Buy to fly ratio: this ratio expresses the relationship between the weight
of the purchased raw material and the weight of the final part
About AMAG Group
AMAG is a leading Austrian premium supplier of high-quality aluminium cast and
flat rolled products for highly varied industries such as the aircraft,
automotive, sports equipment, lighting, mechanical engineering, construction and
packaging industries. The Canadian smelter Alouette, in which AMAG holds a 20%
interest, produces high-quality primary aluminium while safeguarding an
exemplary eco-balance.
Further inquiry note:
Media Contact
Leopold Pöcksteiner
Head of Communications and Marketing
AMAG Austria Metall AG
Lamprechtshausenerstraße 61
5282 Ranshofen, Austria
Phone: +43 (0) 7722-801-2205
E-mail: publicrelations@amag.at
Investor Contact:
Christoph M. Gabriel
Head of Investor Relations
AMAG Austria Metall AG
Lamprechtshausenerstrasse 61
5282 Ranshofen, Österreich
Tel.: +43 (0) 7722-801-3821
Email: investorrelations@amag.at
Website: www.amag.at
end of announcement euro adhoc
--------------------------------------------------------------------------------
Pictures with Announcement:
----------------------------------------------
http://resources.euroadhoc.com/images/3278/5/10538130/Foto_Philipp_Mayer.jpg
issuer: AMAG Austria Metall AG
Lamprechtshausenerstraße 61
A-5282 Ranshofen
phone: +43 7722 801 0
FAX: +43 7722 809 498
mail: investorrelations@amag.at
WWW: www.amag-al4u.com
ISIN: AT00000AMAG3
indexes: ATX GP, ATX BI, VÖNIX, WBI
stockmarkets: Wien
language: English