Ampco-Pittsburgh Announces Customer Contract Win
October 05 2017 - 4:22PM
Business Wire
Ampco-Pittsburgh Corporation (NYSE: AP) today announced that its
wholly-owned subsidiary, Union Electric Steel Corporation (“Union
Electric Steel”), has been selected by Zhongwang (Yingkou) High
Precision Aluminum Industry Co., Ltd (“Zhongwang Aluminum”), a
leading Chinese manufacturer of high-end aluminum flat-rolled
products, to supply rolls for their new hot rolling mill
installation.
The $4.4 million agreement, which includes Union Electric Åkers
forged finishing work rolls and forged roughing work rolls, follows
a successful series of trials at the customer’s existing
manufacturing plant. Shipments are expected to begin in the first
quarter of 2018.
Zhongwang Aluminum specializes in the casting, hot rolling, cold
rolling, and finishing of heavy gauge aluminum plates and sheets
for the transportation sector which includes plates for vessels,
commercial vehicles, tankers, and railway, as well as chemical
containers, industrial packaging, and durable consumer goods. The
customer, located in Wuqing District, Tianjin Province, is a
subsidiary of China Zhongwang Holdings Limited.
Rodney Scagline, President of Union Electric Steel, said, “The
agreement adds another accredited, large new aluminum mill to our
customer list. Supplying the rolls needed for this new mill is an
encouraging win for us, demonstrating our growing presence among
major aluminum rolling mills around the world which require the
most demanding, high-quality rolls. We look forward to serving this
important customer and to meeting Zhongwang Aluminum’s needs as
they evolve in the future.”
About Ampco-Pittsburgh Corporation
Ampco-Pittsburgh Corporation, through its operating subsidiary,
Union Electric Steel Corporation, is a leading producer of forged
and cast rolls for the worldwide steel and aluminum industries, as
well as ingot and open die forged products for the oil and gas,
aluminum, and plastic extrusion industries. Ampco-Pittsburgh is
also a producer of air and liquid processing equipment, primarily
custom-engineered finned tube heat exchange coils, large custom air
handling systems and centrifugal pumps. The Corporation operates
manufacturing facilities in the United States, Canada, United
Kingdom, Sweden, Slovenia, and China. Sales offices are located in
North and South America, Asia, Europe, and the Middle East.
Corporate headquarters is located in Carnegie, Pennsylvania.
About China Zhongwang Holdings Limited
China Zhongwang Holdings Limited (the “Company,” together with
its subsidiaries, the “Group”), is one of the largest aluminum
extrusion product developers and manufacturers in the world and the
largest in Asia. On May 8, 2009, the Company (stock code: 01333)
was successfully listed on the Main Board of The Stock Exchange of
Hong Kong Limited (the “Stock Exchange”). The Group was founded in
1993 with its headquarters based in Liaoning Province, China, and
is now mainly engaged in aluminum extrusion and deep processing
businesses. The Group currently has over 90 aluminum extrusion
production lines, including 21 production lines of large-scale
aluminum extrusion presses of 75MN or above. The Group has been
primarily focusing on the light-weight development in the
transportation, machinery and equipment, and electric power
engineering downstream sectors, through the provision of quality
fabricated aluminum products.
The Private Securities Litigation Reform Act of 1995 (the “Act”)
provides a safe harbor for forward-looking statements made by or on
our behalf. This news release may contain forward-looking
statements that reflect our current views with respect to future
events and financial performance. All statements in this document
other than statements of historical fact are statements that are,
or could be, deemed forward-looking statements within the meaning
of the Act. In this document, statements regarding future financial
position, sales, costs, earnings, cash flows, other measures of
results of operations, capital expenditures or debt levels and
plans, objectives, outlook, targets, guidance or goals are
forward-looking statements. Words such as “may,” “intend,”
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forward-looking statements. Forward-looking statements speak only
as of the date on which such statements are made, are not
guarantees of future performance or expectations, and involve risks
and uncertainties. For Ampco-Pittsburgh, these risks and
uncertainties include, but are not limited to, those described
under Item 1A, Risk Factors, of Ampco-Pittsburgh’s Annual Report on
Form 10-K. In addition, there may be events in the future that we
are not able to predict accurately or control which may cause
actual results to differ materially from expectations expressed or
implied by forward-looking statements. Except as required by
applicable law, we assume no obligation, and disclaim any
obligation, to update forward-looking statements whether as a
result of new information, events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20171005006338/en/
Ampco-Pittsburgh CorporationMelanie L. Sprowson,
412-429-2454Director, Investor Relationsmsprowson@ampcopgh.com
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