AMG Critical Materials N.V.
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Publicatie datum
10 aug 2010 - 23:47
Statutaire naam
AMG Critical Materials N.V.
Titel
AMG affiliate Timminco to form joint venture with Dow Corning at Bécancour Silicon Metal Facilities
Bericht
Amsterdam, 10 August 2010 --- AMG Advanced Metallurgical Group N.V.'s ("AMG", EURONEXT AMSTERDAM: "AMG") publicly listed affiliate, Timminco Limited ("Timminco") (TSX:TIM) announced today that it has agreed to form a joint venture with Dow Corning Corporation ("Dow Corning") at its silicon metal production facilities in Bécancour, Québec. Dow Corning will acquire a 49% equity interest in a new joint venture entity (the "Joint Venture") that will own the existing silicon metal operations of Timminco's wholly-owned subsidiary, Bécancour Silicon Inc. ("BSI"). In exchange, BSI will receive net cash proceeds of $39.7 million on closing, and up to potentially an additional $10.0 million after closing subject to achieving certain performance objectives relating to production cost and capacity improvements. BSI will retain a 51% equity stake in the Joint Venture.
Datum laatste update: 19 december 2025