SinterCast Annual General Meeting 2016
May 19 2016 - 12:22PM
[Stockholm, 19
May 2016] - The SinterCast AB (publ) Annual General Meeting
(AGM) was held on 19 May 2016 in Stockholm. During the AGM,
presentations were provided by Dr Mark Jolly, Professor of
Sustainable Manufacturing at Cranfield University, and by Dr Steve
Dawson, President & CEO. The recorded presentations will
be available on the SinterCast website on or before Tuesday 24
May.
Professor Jolly began his
presentation by providing an introduction to Cranfield University
and an overview of his experience as a researcher in the cast iron
and aluminium foundry industries, and as a professor of sustainable
manufacturing. Professor Jolly introduced prior studies
showing the energy intensity and CO2 emissions of
aluminium production relative to cast iron, and emphasised the
importance of life cycle energy analysis, particularly in the
automotive industry. In particular, Professor Jolly noted
that the production of each kilogram of primary aluminium generates
approximately 10 kg of CO2;
approximately four times that of iron. Professor Jolly
presented the outline of a new project that is being conducted at
Cranfield University to quantify the energy consumption in each
step of the cast iron and aluminium manufacturing processes, from
mining through to manufacturing, on-road use and recycling.
The Cranfield study focusses on the cylinder block because it is
the single heaviest component in most passenger vehicles.
Professor Jolly plans to present the conclusions of the Cranfield
University project before the end of 2016, as an input to decision
makers in the automotive industry and to legislators, to promote
holistic solutions that can improve the environment.
During the CEO presentation, Dr
Dawson presented an overview of recent market activities and
provided an outlook of SinterCast's potential market
development. Dr Dawson's presentation expressed continued
confidence in the market development, including the potential to
secure production references in the last of the Five Waves: in-line diesels for passenger
vehicles. He also stated that the milestone of three million
Engine Equivalents can be achieved with the programmes that are
currently in series production plus the programmes that are
approved and slated for production at SinterCast's partner
foundries. Beyond the market development, Dr Dawson showed
that the penetration of electric vehicles is not expected to affect
SinterCast's market development and he presented the environmental
contributions of engines with SinterCast-CGI cylinder blocks.
Dr Dawson also took the opportunity of the AGM to introduce the new
Ladle TrackerTM technology,
reinforcing SinterCast as a market leader in providing unique
solutions that improve process control and productivity in the
foundry industry.
During the AGM, Hans-Erik
Andersson, Aage Figenschou, Robert Dover, Laurence Vine-Chatterton,
Carina Andersson, Jason Singer and Steve Dawson were
re-elected as Board members. Hans-Erik Andersson was
re-appointed as Chairman.
The AGM also decided upon the
constitution of the Nomination Committee until the next AGM,
comprised of Karl-Arne Henriksson, Chairman, Andrea Fessler,
Ulla-Britt Fräjdin-Hellqvist and Hans-Erik Andersson.
All of the proposals presented to
the AGM were approved by the shareholders.
For and on behalf of the Board of
Directors:
Steve
Dawson |
President &
CEO |
SinterCast AB
(publ) |
Tel: |
+46 8 660 7750 |
e-mail: |
steve.dawson@sintercast.com |
SinterCast is
the world's leading supplier of process control technology for the
reliable high volume production of Compacted Graphite Iron (CGI).
With at least 75% higher tensile strength, 45% higher stiffness and
approximately double the fatigue strength of conventional grey cast
iron and aluminium, CGI allows engine designers to improve
performance, fuel economy and durability while reducing engine
size, weight, noise and emissions. The SinterCast technology, with
44 installations in 13 countries, is primarily used for the
production of petrol and diesel engine cylinder blocks and exhaust
components for passenger vehicles, medium-duty and heavy-duty
cylinder blocks and heads for commercial vehicles, and industrial
power engine components for marine, rail, off-road and stationary
engine applications. SinterCast's series production components
range from 2 kg to 9 tonnes, all using the same proven process
control technology. The SinterCast share is quoted on the
Small Cap segment of the Stockholm NASDAQ OMX stock exchange
(Stockholmsbörsen: SINT). For more information:
http://www.sintercast.com
END
Press Release PDF
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announcement is distributed by NASDAQ OMX Corporate Solutions on
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: SinterCast via Globenewswire
HUG#2013986
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