NetComposites
Attwater

AGY Initiate Process to Sell Its CFM Business

31 July 2012

AGY has decided to initiate the process to sell its continuous filament mat (CFM) business.

“This decision regarding our CFM business was made to better align the company’s strategic objectives and product portfolio,” said Drew Walker, President of AGY. AGY says the proposed sale will have no impact on their core yarn and specialty roving business.

AGY explains that re-aligning its product portfolio will allow it to return to its core capabilities and focus on its specialty materials products. “AGY has the product portfolio and technology to take advantage of continued acceptance of our products as replacements for more traditional materials, such as metal and wood,” said Walker. “In this regard, the composites industry has a strong, proven track record for high-volume usage.”

AGY anticipates selling the CFM plant and facilities in Huntingdon Pennsylvania that make up the CFM business, including the wound products and conductive roving business. Since acquiring the plant in 2007, AGY says it has profitably produced the glass fibre product used in the production of electrical insulation panels, pultruded shapes for industrial products, energy market products for power generation and oil rig safety, and composite parts for automotive interiors. AGY will continue operating the plant until a transaction is completed.

While the CFM product line and its customer base are no longer core to AGY’s strategic business plan for the future, AGY says it has every confidence that it is poised for growth. “AGY CFM is a solid business,” said Walker. “We believe the business will benefit from being owned by a company aligned with its objectives.”






Related / You might like...

Compcut 200 Increases Testing Productivity at Renault Sport Racing

Sharp & Tappin has installed and commissioned a Compcut 200 composite plate saw at Renault Sport Racing in Enstone, Oxfordshire, UK.

80-Year-Old Massachusetts Bridge Gets FiberSPAN FRP Deck

The Massachusetts Department of Transportation (MassDOT) selected a lightweight FiberSPAN fibre reinforced polymer (FRP) bridge deck, manufactured by Composite Advantage, for the Rugg Bridge on Route 57.

Electric GT’s Tesla P100DL Features Bcomp Flax Fibre Technologies

Electric GT Holdings and SPV Racing recently unveiled the race-ready version of the EPCS V2.3 Tesla P100DL at Circuit de Barcelona-Catalunya. The car features lightweight body parts made using Bcomp's ampliTex and powerRibs natural fibre composite reinforcement products, contributing to a 500 kg weight reduction over the road edition.