Shell & AMG Recycling B.V. Sign Agreement with Shandong Yulong Petrochemical Co., Ltd to Assess Building a Spent Residue Upgrading Catalyst Recycling Facility
Amsterdam, 26 October 2020 (Regulated Information) --- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") is pleased to announce that Shell & AMG Recycling B.V. signed a memorandum of understanding (MOU) today with Shandong Yulong Petrochemical Co., Ltd. to enter into exclusive arrangements to evaluate the potential for construction and operation of a spent catalyst recycling facility in Yantai, China.
The MOU will allow Shandong Yulong Petrochemical Co., Ltd and Shell & AMG Recycling B.V. to explore the feasibility of building a world class facility to reclaim valuable metals by recycling spent residue upgrading catalysts generated by refineries in China. Residue upgrading catalysts help refineries upgrade the bottom of the oil barrel into more valuable products, including generation of petrochemicals feedstocks. Such a facility would help maximize the benefits from China’s natural resources while addressing the need to provide environmentally responsible management of spent residue upgrading catalysts.
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
This press release contains regulated information as defined in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).
About Shell & AMG Recycling B.V.
Shell & AMG Recycling BV brings together the innovative technology and operating experience of Shell and AMG to address refiners’ waste management challenges. In addition, they will benefit by creating value from a refinery waste stream.
About AMG
AMG is a global critical materials company at the forefront of CO2 reduction trends. AMG produces highly engineered specialty metals and mineral products and provides related vacuum furnace systems and services to the transportation, infrastructure, energy, and specialty metals & chemicals end markets.
AMG Critical Materials produces aluminum master alloys and powders, ferrovanadium, natural graphite, chromium metal, antimony, lithium, tantalum, niobium and silicon metal. AMG Technologies produces titanium aluminides and titanium alloys for the aerospace market; designs, engineers, and produces advanced vacuum furnace systems; and operates vacuum heat treatment facilities, primarily for the transportation and energy industries.
With approximately 3,100 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the Czech Republic, the United States, China, Mexico, Brazil, India, Sri Lanka and Mozambique, and has sales and customer service offices in Russia and Japan ().
For further information, please contact:
Michele Fischer
Vice President Investor Relations
AMG Advanced Metallurgical Group N.V.
Disclaimer
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