EANS-News: AMAG Austria Metall AG: Sales cooperation concluded with Marubeni Corporation and Marubeni-Itochu Steel (Japan)

Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.

Joint Ventures/Cooperation/Collaboration

Ranshofen –
* Target: Enlarge the marketing of AMAG rolled products in the global automotive industry
* Preliminary focus on the Japanese market, expansion on other regions intended

At July 8, 2019 an agreement for the cooperation in commercialisation of AMAG rolled products in the global automotive industry was signed in Tokyo. The contract partners AMAG, Marubeni-Itochu Steel Inc. and Marubeni Corporation have agreed to bundle up the common strengths for the time being in the Japanese market. The quality of the AMAG flat rolled products combined with the market presence and local distribution and service centre structure of the Japanese contracting partner Marubeni brings numerous advantages for the customers in the Japanese automobile industry concerning quality and delivery performance. The arrangement also intends an expansion of the cooperation on the important markets USA, China, Mexico, India, Thailand, South Korea und Europe.

„The Japanese automobile industry stands for innovation, quality and the highest reliability, all of which values also AMAG characterises. In this sense, we are especially pleased to continue developing our business in Asia together with our partners. As a part owner of the Canadian smelter Alouette, we already have a long-term partnership with Marubeni“, according to Gerald Mayer, CEO of AMAG Austria Metall AG.

Statement of Marubeni: „By utilizing its global processing and logistic functions among its related group companies, Marubeni will contribute to the reduction of vehicle weight and promote sustainable aluminium by enlarging the marketing of AMAG products in the automotive industry.“

About the aluminium industry
With a forecast medium-term growth of about 10 percent per year the automotive industry is an important growth factor for aluminium flat rolled products. With the new plants in Ranshofen, the technological competence and distinctive strength in recycling AMAG is perfectly positioned for this development.

About the Japanese motor vehicle industry
With a fleet of around 62 million cars and an annual output of around 9.2 million cars, Japan is a very attractive market. The country ranks third globally in carmakers behind China with 26.7 million vehicles and the US with 11 million vehicles. Around 4.2 million of the cars produced in Japan are exported mainly to North America and Europe.

About Marubeni-Itochu Steel Inc.
Marubeni-Itochu Steel Inc. has the supply chain network for processing and JIT service of steel and aluminium coil with service centers for Automotive.

About Marubeni Corporation
The Marubeni Corporation has been active in the aluminium business as a trader and investor in aluminium smelters for many years, including the co-ownership with AMAG in the Canadian smelter Alouette.

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.

end of announcement euro adhoc

Attachments with Announcement:
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http://resources.euroadhoc.com/documents/3278/5/10328417/1/20190709_PM_AMAG_Marubeni_en.pdf

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.at
ISIN: AT00000AMAG3
indexes: WBI, VÖNIX, ATX BI, ATX GP
stockmarkets: Wien
language: English

Digital press kit: http://www.ots.at/pressemappe/12432/aom