[Stockholm, 20 May 2015] - The SinterCast AB (publ) Annual General Meeting (AGM) was held on 20 May 2015 in Stockholm. During the AGM, presentations were provided by Mr Luiz TarquÃnio S. Ferro, President of Tupy S.A., and by Dr Steve Dawson, President & CEO. The recorded presentations will be available on the SinterCast website on or before Monday 25 May.
Since his previous appearance at SinterCast's AGM in 2007, Mr Ferro presented an overview of Tupy's development, including organic growth and strategic acquisitions that have secured Tupy's position as the world's largest independent foundry and the world's largest and most diversified provider of Compacted Graphite Iron (CGI). Mr Ferro noted that CGI has become an increasingly important component of Tupy's current business and future growth strategy. With several CGI components already in series production, Mr Ferro confirmed that Tupy has secured additional CGI production commitments and that CGI has the potential to grow from the current 13% of automotive sales volume (1Q15). Mr Ferro acknowledged SinterCast's contributions to Tupy's drive for improved efficiency and improved margins, and thanked SinterCast for its support over the past 18 years. From the world's first high volume CGI programme in 2003, to the world's first high volume CGI petrol engine in 2014, Mr Ferro confirmed that Tupy is committed to leading the global trend toward CGI for performant, efficient and green engine technologies.
During the CEO presentation, Dr Dawson presented an overview of recent market activities and provided an outlook for SinterCast's potential market development. Dr Dawson's presentation showed that the annualised volume increased by 18% since the last AGM, and that the average compound annual growth rate since 2007 is also 18%. Dr Dawson stated that breaking the two million Engine Equivalent milestone in March was a significant achievement for the company and that the programmes currently in series production have the potential to provide more than 2.5 million Engine Equivalents. Beyond the current production, the programmes under development at Tupy and at SinterCast's other foundry partners will enable SinterCast to surpass the three million Engine Equivalent milestone and provide further growth opportunities.  Dr Dawson also noted that the recent growth has been well diversified, with double-digit growth contributions coming from each of the passenger vehicle, commercial vehicle and industrial power sectors. The Ford 2.7 litre V6 petrol engine has been a particularly strong contributor recently, providing an important reference for CGI in petrol applications. In closing, Dr Dawson confirmed that the recent increases in series production and new installations have provided a great sense of achievement, pride and motivation for the SinterCast employees, and invited the shareholders to share in this sense of accomplishment.
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.Â
All of the proposals presented to AGM were approved by the shareholders.
For and on behalf of the Board of Directors:
| Steve Dawson | |
| President & CEO | |
| SinterCast AB (publ) | |
| Tel:Â | +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. With 42 installations in 12 countries, the SinterCast technology 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: www.sintercast.com (http://www.sintercast.com)
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Source: SinterCast via Globenewswire
