Ferroglobe Announces Restart of Second Silicon Metal Furnace at the Selma Facility in the United States
May 25 2022 - 8:30AM
Ferroglobe PLC (NASDAQ: GSM) (“Ferroglobe” or the “Company”), a
leading producer of silicon metal, silicon-based alloys and
manganese-based specialty alloys, is pleased to announce today that
it has successfully restarted its second furnace at the Selma,
Alabama (United States) facility. The restart of this furnace adds
an incremental 11,000 tons of annual silicon metal capacity
dedicated to the domestic market in the United States. Overall, the
two-furnace Selma facility has total annual silicon metal capacity
of 22,000.
Marco Levi, Ferroglobe’s Chief Executive Officer
commented, “The restart of our Selma facility bolsters our ability
to serve our customers as demand grows for silicon metal in North
America. We are excited to have the full workforce at the Selma
facility back and we thank the State of Alabama for their support
over the past few months. With this additional silicon metal
capacity, we can now evaluate options to optimize the production
mix at our other assets in the U.S.”
Dr. Levi continued, “Over the last two years we
have strengthened our global asset platform enhancing operational
flexibility and competitiveness by right-sizing capacity and
improving our cost structure to better serve our customers. We will
leverage our unique asset base judiciously, as we continue to
evaluate a number of options, including the potential restart of
the silicon metal plant in Polokwane, South Africa, which can meet
customer’s needs in various geographies including North America,
Europe, the Middle East and Asia.”
About Ferroglobe
Ferroglobe PLC is one of the world’s leading
suppliers of silicon metal, silicon- and manganese- based specialty
alloys and ferroalloys, serving a customer base across the globe in
dynamic and fast-growing end markets, such as solar, electronics,
automotive, consumer products, construction and energy. The
Company is based in London. For more information, visit
http://investor.ferroglobe.com.
Forward-Looking Statements
This release contains “forward-looking
statements” within the meaning of U.S. securities laws.
Forward-looking statements are not historical facts but are based
on certain assumptions of management and describe Ferroglobe’s
future plans, strategies and expectations. Forward-looking
statements often use forward-looking terminology, including words
such as “anticipate”, “believe”, “could”, “estimate”, “expect”,
“forecast”, “guidance”, “intends”, “likely”, “may”, “plan”,
“potential”, “predicts”, “seek”, “will” and words of similar
meaning or the negative thereof.
Forward-looking statements contained in this
press release are based on information currently available to
Ferroglobe and assumptions that management believe to be
reasonable, but are inherently uncertain. As a result, Ferroglobe’s
actual results, performance or achievements may differ materially
from those expressed or implied by these forward-looking
statements, which are not guarantees of future performance and
involve known and unknown risks, uncertainties and other factors
that are, in some cases, beyond Ferroglobe’s control.
Forward-looking financial information and other
metrics presented herein represent Ferroglobe’s goals and are not
intended as guidance or projections for the periods referenced
herein or any future periods.
All information in this press release is as of
the date of its release. Ferroglobe does not undertake any
obligation to update publicly any of the forward-looking statements
contained herein to reflect new information, events or
circumstances arising after the date of this press release. You
should not place undue reliance on any forward-looking statements,
which are made only as of the date of this press release.
INVESTOR CONTACT:
Gaurav MehtaExecutive Vice President - Investor
Relationsinvestor.relations@ferroglobe.com
MEDIA CONTACT:
Cristina Feliu RoigExecutive Director – Communications, Branding
& Public Affairscorporate.comms@ferroglobe.com
Source: Ferroglobe PLC
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