AMG adds names to management board of new operating division

The Dutch firm said the position would be in addition to his current responsibilities as president of AMG Titanium Alloys.

He would be joined on the board by Markus Holz, who would continue to act as president of AMG Engineering, as well as by Steve Daniels, who would act as the chief financial officer of AMG Technologies.

As it had previously announced, AMG's new operating division - AMG Technologies - would be a reportable segment, replacing AMG Engineering.

“Beginning with the AMG initial public offering in 2007, we stressed the importance of combining engineering and operations know-how in order to accelerate innovations in advanced metallurgy,” said AMG chairman Dr Heinz Schimmelbusch.

“In a major step early on we offered novel vacuum heat treatment technologies not only as a supplier of furnaces but also as a heat treatment service to our automotive customers.

“Subsequent to that development, AMG Titanium Alloys achieved a major break-through in new aerospace engine materials based on the combination of vacuum furnace engineering and operations know-how, commercializing titanium aluminide as well as titanium aluminide powder for additive manufacturing.”

Dr Schimmelbusch said that project, as well as others, had increased the cooperation between Hanau and Nuremberg, which were the corporate centers of AMG Engineering and AMG Titanium Alloys respectively.

“We predict that the combination of these two entities under one management team will deliver substantial value for our customers and for all AMG stakeholders.”