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26

Jul

2018

Almatis constructing new Tabular Alumina plant in Falta
7/26/2018 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release

As demand for Tabular Alumina expands with India’s refractory requirements, Almatis is committed to support and enhance our customers’ success with Quality alumina products and excellent service. A positive outlook for Indian produced steel, leveraged by growing GDP and per capita steel consumption requires premium alumina for longer refractory life.

“Almatis is committed to providing continuous support to the Indian refractory industry,” Emre Timurkan, Almatis’ CEO said. He assured the market that, “Almatis is on a path of rapid construction to satisfy our customers’ increasing demand for high quality Tabular Alumina.”

Operating since 1995, Almatis’ India business is based in Falta with a processing plant that has been growing steadily. Now with this forthcoming, world-class facility, Almatis will expand with integrated manufacturing line in India with Tabular Alumina converters installed. This investment will enable shorter lead times and a further improvement of flexibility from a plant in the proximity of our Indian and Asian customers.

Almatis India General Manager, Sarit Kundu, who’s responsible for execution of this strategic project, affirmed Almatis’ commitment: “Quality and delivery are of prime importance to Almatis. This upcoming Falta India Tabular Alumina production facility would meet the needs of our valued Indian customers and provide supply security for this growing market”.

 

29

Aug

2017

Press Release

Almatis announces a major expansion of their Falta, India specialty alumina plant with the planned installation of a tabular alumina converter. This important backward integration investment will build on Almatis’ eighty-one years of experience producing tabular alumina.

Since initiating production in India in 1995, Almatis has built a leading position in supplying India's rapidly growing refractory, ceramic and polishing markets. To quickly improve the ability to serve the local Indian market, plant construction will begin soon. Once completed, the facility will competitively serve the growing Indian demand with a fully integrated, strong local presence.

“Making our Falta plant a fully backward integrated tabular production facility expands our tabular capacity and strategically locates production near a growing market that is very important to Almatis’ future,” said Almatis Chief Commercial Officer, Stefan Rieder, when announcing the expansion.

With the expansion, all Almatis global environmental and quality management systems will be in place to assure high quality products, delivery reliability and social responsibility.

“The Indian market has always expressed their appreciation for the Premium Alumina that Almatis delivers,” said Commercial Director India, Sarbapi Mukherjee. “Our alumina expertise is matched by our excellent local service and technical support capabilities. This expansion of our Falta plant will further enhance the customer experience with value added premium alumina, available at their doorstep.”

04

Apr

2017

Press Release

The 2017 Planje Award recognizes Dr. Buhr for his important achievements in the research of high alumina refractories and for developing the best alumina refractory solutions for customers’ challenging high temperature environments. Dr. Buhr brings strong leadership to Almatis’ product development and technical application support with teams in Europe, Americas and Asia. He has authored near 85 papers on refractories and his leading-edge refractories research continues to develop enhanced alumina products at Almatis.
Dr. Buhr presented to the gathered audience on “Mineralogy in Refractories” and the continued value of phase diagrams in research excellence. He 

in turn took the opportunity to honor his PhD thesis advisors -- Eduard Woermann and Manfred Koltermann -- who guided his development as a young researcher of high alumina castables.

21

Nov

2016

New CCO for Almatis
11/21/2016 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release

Almatis has appointed Stefan Rieder as Chief Commercial Officer as per 1st of November 2016. As member of the Almatis Executive Committee and located in the group's global head office in Frankfurt, Mr. Rieder will be responsible for Global Sales, Marketing and Business Development driving the growth strategy of Almatis as the leading player in the field of specialty alumina.  Mr. Rieder joins with 20 years of international business management experience gained in chemical, specialty glass and plastics industries for companies like Hoechst AG, SCHOTT AG and Borealis AG whereas he spent the majority of his career on international assignments in Europe and Asia where he successfully managed 

businesses such as pharmaceutical packaging.  
 
Henning Stams, CEO of Almatis commented: “I am very happy to see Stefan joining as we now can better focus on the need of our customers globally and further strengthen our forward-oriented engagement to develop mutual benefit along promising trends, leveraging on our strong technological knowledge and longstanding experience in this industry”.

25

Feb

2016

Press Release

With the challenging economics of today’s global aluminum industry driving significant changes in the North American non-metallurgical alumina industry, Almatis has the commitment and capability to deliver its customers uninterrupted, secure local supply for their specialty alumina needs. Backward integrated with the 2013 purchase of the Burnside alumina refinery, Almatis has unique control of its supply chain and can provide its customers long-term stability in this time of big industry shifts. The recent announcements of curtailment and financial protection of the three other U.S. alumina refineries exposes the potential vulnerability of non-metallurgical alumina buyers to the swings in metal values.

Investments in Almatis Burnside have upgraded it to a chemical grade facility that supplies Almatis operations in the US and Europe with a high quality feedstock for producing their products and also supplying the non-metallurgical alumina chemical markets. The Burnside alumina refinery has an annual capacity of about 500,000 metric tonnes. Besides fulfilling internal feedstock requirements, Almatis will supply calcined alumina and hydrated alumina to fill the void resulting from the curtailments. Significant investments have been brought forward to ensure Almatis is a strong, long-term, reliable partner for the U.S. refractory, ceramic, polishing and chemical industries.

“Almatis has the only North American refinery operated and maintained solely for the quality needs of the specialty alumina and chemicals markets and thus completely independent from the much more volatile metallurgical grade alumina market,” stated Almatis CEO Henning Stams.  “Our production plants and those of our existing and new customers can rely on this,” he added.

04

Dec

2015

New CEO Appointment for Almatis
12/4/2015 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release

Effective December 1, 2015, the Board of Atterbury S.A., a subsidiary of OYAK, appointed Henning Stams as the new Chief Executive Officer (CEO) of the Almatis Group. 

Mr. Stams succeeds Taco Gerbranda who has been appointed to the position of Advisor to the Board of Atterbury S.A., which will benefit from his vast corporate and Almatis experience.  Dinç Kızıldemir, Chairman of Almatis, and an Executive Vice President of OYAK commented: 

“We would like to thank Taco for his successful management and leadership of Almatis over the last years and especially during the process of the acquisition by OYAK.”

Prior to his appointment as CEO, Henning Stams was Almatis’ Vice President of Supply Chain and IT and served as a member of the Group’s Executive Committee from 2009.  He joined Almatis in 2004 as Chief Information Officer, with the primary responsibility for overseeing the carve-out of Almatis from Alcoa.  Previously he held a variety of different management and consultancy positions. Mr. Stams holds a Master’s Degree in Science from the University of Cologne and also serves as a judge at the Regional Court of Frankfurt.

Henning Stams stated “Our industry is currently facing challenging global market conditions.  My top priority will be to ensure that Almatis continues to be a reliable, competitive, value-adding and hence preferred solution and supply partner.  Through leveraging our strong technological knowledge, we shall further focus on offering best-fit solutions to our customers.”

01

Sep

2015

DIC completes sale of Almatis to OYAK
9/1/2015 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release

1st September 2015: Dubai International Capital (DIC), the private equity arm of Dubai Holding, today announces that it has completed the sale of Almatis (the "Group"), the world's leading supplier of premium alumina for the refractory, ceramic and polishing industries to OYAK, Turkey's largest private pension fund. The completion of this sale follows receipt of all relevant regulatory approvals.

 

Taco Gerbranda, Chief Executive Officer of Almatis, said: “We are grateful to DIC for their support and the strong partnership that we formed during their ownership period. This partnership was critical in allowing us to undertake very ambitious strategic steps that ensured the longer term stability of our company by extending our global presence, increasing capacity and becoming vertically integrated, with the single objective to better serve our customers.

 

Today marks the start of a new chapter for Almatis, with an owner who has expertise in our sector. This transaction positions Almatis very well to support the growth of our customers, grow with them and at the same time strengthen our leadership in the premium alumina industry. With its strong understanding of Almatis' customer needs, the market opportunities and challenges, OYAK is well placed to foster Almatis' continuous development, pursuing its long-term strategy.”

David Smoot, Chief Executive Officer of Dubai International Capital, commented: “We are extremely pleased with the outcome of the sale of Almatis. During our ownership, our close collaboration with the management team and investment in the business allowed the Group to achieve significant growth and improvements in its operations. The Group has an extremely attractive growth potential and OYAK is the right partner to support it in the next phase of its development.”

14

Jul

2015

OYAK signs agreement to acquire Almatis
7/14/2015 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release

Rotterdam, the Netherlands – 14 July 2015: Almatis (the "Group"), the world's leading supplier of premium alumina for the refractory, ceramic and polishing industries, today announced that its shareholders, including majority owner Dubai International Capital LLC ('DIC'), have signed an agreement to sell the Group to OYAK, Turkey's largest private pension fund. 
 

Taco Gerbranda, Chief Executive Officer of Almatis, said: “As a long-term investor, OYAK is expected to significantly strengthen Almatis' financial position and to support the Group's continued growth. This is a major milestone for Almatis and we look forward to the completion of the transaction”

Completion of the transaction is conditional upon receipt of all relevant regulatory approvals.

 

01

Oct

2014

Almatis announces new Chief Financial Officer (CFO)
10/1/2014 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release

After nearly 4 years of dedicated and successful service, Thomas Kritzler retires from the position of Almatis’ CFO. With effect from 1 October 2014, Thomas is succeeded by Teun Plegt, who served as the Almatis’ Group Controller for almost 1.5 years.

 

Taco Gerbranda, CEO of Almatis commented: “Thomas’ lasting legacies will be his disciplined approach to cash management and his drive to create long term shareholder value.  We thank Thomas for his valued contribution to Almatis and we wish Teun success with the challenges ahead”.

Teun Plegt joined Almatis in June 2013 as Group Controller and brings with him more than 15 years of international experience in various financial management positions.

13

Dec

2013

Almatis completes acquisition of Ormet’s Burnside alumina refinery
12/13/2013 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release

  Major investment to secure long-term supply of specialty alumina feedstock
•  Backward integration to further develop specialty alumina expertise

Almatis, the world’s leading supplier of premium alumina for the refractory, ceramic and polishing industries, has today announced the completion of the purchase of the alumina refinery at Burnside, Louisiana/USA from the Ormet Corporation.

The acquisition marks an important strategic step for Almatis as it will provide the Group with its own feedstock for the production of premium alumina products, supplementing external sources. The Burnside alumina refinery has an annual capacity of about 500,000 metric tons per year. Though the refinery was established as a smelter grade alumina producer, it has proven its capability to produce high quality feedstocks needed to fulfill Almatis’ Premium Alumina standards. In addition to the internal supply, Almatis now will also serve the specialty alumina and hydrate markets with designed products directly from the refinery.

“Almatis is committed to make additional investments in the refinery to ensure its success as a dedicated specialty producer”, said Taco Gerbranda, CEO of Almatis. “This is a major investment for the future of Almatis that will enable us to better manage and secure our long-term feedstock supply, and strengthen our ability to provide our customers with premium specialty alumina products. It will help us broaden our knowledge and expertise, further develop our production capabilities and enable us to expand our portfolio for additional value-added markets.”

Almatis will continue to maintain close relationships with the existing alumina suppliers. The combination of external sources and internal production will strengthen the Group’s global supply and manufacturing network and will bring greater flexibility to safeguard the feedstock supply, both in volume and in diversification of specialty qualities.

28

Oct

2013

Almatis signs asset purchase agreement with Ormet Corporation
10/28/2013 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release

On October 26, 2013, Almatis has entered into an asset purchase agreement with Ormet Corporation for the acquisition of Ormet’s alumina refinery at Burnside, Louisiana. The companies intend to complete the transaction before year-end, subject to Ormet’s bankruptcy court approval and customary closing conditions.

03

Jul

2012

Announcing new Almatis do Brasil Ltda.
7/3/2012 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release

Almatis is the world’s leading supplier of premium alumina for the refractory, ceramic and polishing industries. 

Through customer focus, supporting and enhancing our customers’ business with quality products, excellent local service and technical support Almatis works to raise customer satisfaction. 

In our efforts to continuously improve our sales and support services, Almatis is pleased to announce that we will begin our local sales operations of Almatis do Brasil on July 2, 2012. Our business headquarters in Campinas and our new warehouse at Osasco, São Paulo, allow us to move closer to our customers, to more responsively meet all of their specialty alumina needs. The new Almatis office will manage local Brazilian sales, customer service, logistics and direct importation of all the Almatis products, including calcined and reactive aluminas, tabular aluminas, cements, magnesia and alumina-rich spinels and all other special Almatis products. Our people will work to bring quality and consistency to our Brazilian customers in everything we do. “Almatis today celebrates bringing our 100 years of alumina expertise directly to the Brazilian refractory, ceramic and polishing industries. We aim to bring greater service levels with our new office, local sales and customer service team and finished goods inventories,” said Jose Martin, Commercial Director - Refractories, Americas. 

Almatis is committed to provide high quality specialty alumina products and leading edge services globally.

02

Apr

2012

Almatis announces the sale of their Specialty Hydrates business
4/2/2012 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release

Today, Almatis announces the sale of its specialty hydrate flame retardant business located in Bauxite, Arkansas to Huber Specialty Hydrates, LLC, a subsidiary of J.M. Huber Corporation. For the past year, Almatis produced specialty hydrate products at its Bauxite, Arkansas facility under a tolling agreement exclusively for J.M. Huber Corporation.

"We are pleased that Huber has further enhanced its product portfolio with the Almatis Hydral® and SpaceRite® brands and will continue to service the customers of the specialty hydrate market" stated Taco Gerbranda, CEO of Almatis. "We are convinced that this transaction will forge a good future for our former employees who will play a key role in Huber's plans for growing the specialty hydrate business."

The Almatis Bauxite operations manager Dinesh Moorjani stated: "We welcome Huber to the Bauxite, Arkansas community and look forward to being good neighbors."

With this sale, Almatis’ Bauxite operation can now focus on the production of its strategic Tabular and Calcined Alumina product lines used in the refractory, ceramic, polishing and investment casting markets. Recent investments in the Bauxite operation that include capacity expansion and a new state-of-the-art application laboratory showcase Almatis’ continued commitment to our customers and the markets they serve.

Since 2004, Almatis has invested more than $150 million to support the growth of our core business with higher value alumina products in the refractory, ceramic and polishing markets in all regions around the world. Other recent strategic investments include a newly commissioned calcined alumina production facility in China, expanded tabular sizing capacity in Europe and application development laboratories in China and India.

12

Sep

2011

Almatis announces price increases effective October 1st, 2011
9/12/2011 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release

Effective October 1st, 2011, Almatis will raise prices on its entire specialty alumina product portfolio including all standard products in Tabular alumina, calcined alumina, calcium aluminate cement and spinels. Price increases will range from 8 to 12 percent and will be effective for all new contracts after October 1st, 2011

After the strong recovery from the recession, more capacity for higher quality products is essential. The specialty alumina industry needs a healthier margin level to allow for further investment and to guarantee a reliable supply of premium products and stronger innovation to support the end markets in their future growth. In addition, we will have to recover inflationary, logistics, feedstock and energy cost increases that haven’t been fully recovered since the recession. One important step we are making to counter increased volatility in raw material costs is a move to contracts with a maximum duration of six months.

“Almatis is committed to providing its customers with a reliable supply of premium products globally. We strive to ensure the highest level of quality and delivery performance to our customers in every region around the world. We have returned to very high capacity utilization in all of our plants, so we will continue to strategically invest in additional capacity to support the growing global demand for synthetic alumina products” states Taco Gerbranda, CEO.

 

About Almatis

Almatis is a global leader in the development, manufacture and supply of premium specialty alumina products. With about 900 employees worldwide, the company's products are used in a wide variety of industries, including steel production, cement production, non-ferrous metal production, ceramics, carpet manufacturing and electronic industries. Almatis operates nine production facilities worldwide and serves customers around the world. Until 2004, the business was known as the chemical business of Alcoa.

Almatis is now majority owned by Dubai International Capital LLC (DIC), a private equity investment company established in 2004 as a wholly owned subsidiary of Dubai Holding.

18

Aug

2011

Almatis Group announces strong improvement in revenues and earnings
8/18/2011 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release
  •          New investments are being rolled out in line with growth strategy

 Almatis, a global leader in the development, manufacture and supply of premium specialty alumina products, has witnessed a sharp recovery in financial performance, following the financial restructuring one year ago. Revenues in 2010 surpassed $0.5 billion, up 33 percent compared to 2009, and continued to grow by another 16 percent for the first half of 2011 compared to 2010.The Company saw even stronger growth in earnings.  Demand in the Refractories, Ceramics and Polishing segments continues to be strong in the Americas, Asia and also Europe, as the steel industry and global GDP have continued to grow, and Almatis is working at full capacity.

 David Smoot, Chairman of Almatis, commented:

“We are pleased to see a significant improvement in Almatis’ performance, which has exceeded targets that were put in place back in September 2010, when the Group completed its financial restructuring. This recovery has taken place following the global downturn which heavily impacted Almatis’ end markets. The restructuring has led to significant debt deleveraging and the level of indebtedness over earnings is now below that of many comparable companies. Furthermore, Almatis has already started to pay down some of its debt. The Board remains very supportive of management’s initiatives to expand capacity in order to maximize opportunities for further growth.”

In 2011, Almatis expects growth opportunities right across the markets in which it operates.  After having implemented most of its cost saving potential over the recent months, the company will have to pass on price increases from its suppliers for raw material and energy, categories that have shown major upward trends over the last months.  Although recent demand levels have led to some capacity constraints at several manufacturing facilities, progress in key projects and expansion plans are expected to create headroom at the beginning of nextyear. The construction of a full scale calcines facility in Huangdao (China) is progressing according to plan and production is expected to commence in early 2012.

 Taco Gerbranda, Chief Executive Officer of Almatis, said:

“We have increased investment in existing facilities, creating more capacity which will enable us to meet customer demand in an efficient and technologically advanced way. Strong cash generation, also through tighter working capital management, and a healthy financial structure have allowed the Group to self-finance and execute two significant investment projects so far this year. Total investment by Almatis will exceed $45 million in 2011. Other growth initiatives are being explored and we expect Almatis to continue expanding capacity, as well as introducing new products, in the next couple of years.”

28

Apr

2011

Almatis names Taco Gerbranda as new CEO
4/28/2011 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release

The Board of Almatis has nominated Taco Gerbranda as the new Chief Executive Officer (CEO) of Almatis. He is expected to take up his new role during May. He succeeds Remco de Jong who has decided to step down from his position following the successful completion of the financial restructuring of the company.

David Smoot, Chairman of the Board of Almatis, commented: “We would like to express our gratitude to Remco de Jong for the successful management of the company in challenging times. The Board remains supportive of the existing growth strategy and we look forward to working with Taco Gerbranda to continue to drive growth and value creation for the business, based on further product innovations and new capacity, primarily in Asia.”

Taco Gerbranda, CEO designate, said “Almatis is on a strong financial footing and has great potential for overseas expansion. I look forward to working with the team to maximise this opportunity.”

Taco Gerbranda spent over 25 years with the Philips Group, where he held several different management positions in various countries, including Singapore, Brazil, Germany, Belgium and the Netherlands. He worked in technical and commercial roles across the consumer electronics, car systems, components and Grundig divisions. In 2001 he joined Heraeus Holding as CEO of the division Heraeus Electro-Nite, which he led from 2001 until the end of 2009. Heraeus Electro-Nite group is a global market leader for disposable sensors for the strategic business sectors molten steel, iron and aluminium. There, Taco promoted global expansion driven by the need for building a better cost base and increasing market share.

About Almatis

Almatis is a global leader in the development, manufacture and supply of premium specialty alumina products. With nearly 900 employees worldwide, the company's products are used in a wide variety of industries, including steel production, cement production, non-ferrous metal production, ceramics, carpet manufacturing and electronic industries. Almatis operates nine production facilities worldwide and serves customers around the world. Until 2004, the business was known as the chemical business of Alcoa. Almatis is now majority owned by Dubai International Capital LLC (DIC), the international investment arm of Dubai Holding.

26

Apr

2011

Almatis Continues Ongoing Investments in China with Calcines Facility
4/26/2011 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release

New production plant on target for 2011 completion

Almatis is confirming its commitment to the Asian market for its premium alumina
products with the investment in construction of a full scale state-of-the-art
calcines production facility in China.

"This project is one of the biggest investments Almatis has ever made," states
Remco de Jong, Almatis CEO. "Our decision in September 2010 to go forward
with this project following a two-year worldwide industry recession demonstrates
our commitment to the Asian region. China is the largest steel producing nation in
the world and there is significant growth potential in ceramics applications
throughout the region as well. By increasing our calcines capacity, we will be able
to support our customers' growth with the latest production technology, lower
shipping costs and shorter delivery times."


Groundbreaking for the new facility, which will be integrated with the existing
Huangdao (Qingdao) Tabular plant, took place on October 18, 2010 at 3:18
p.m.—an auspicious combination of numbers in Chinese traditional culture. The
plant will be mechanically completed by the end of 2011 and commence
production in early 2012.


Almatis business activities in China date back to 1998 when the Huangdao
processing plant was established to manufacture crushed and sized alumina
products. Almatis opened its expanded and fully integrated Tabular alumina
facility in Huangdao in 2006. In addition to its regional headquarters in
Huangdao, Almatis has a sales office in Shanghai. Currently Almatis employs
about 150 people in China, which is expected to grow when the calcines plant
goes into production in 2012.

 

About Almatis
Almatis is a global leader in the development, manufacture and supply of highquality
specialty alumina products. With nearly 900 employees worldwide, the
company's products are used in a wide variety of industries, including steel
production, cement production, non-ferrous metal production, ceramics and
electronic industries. Almatis operates nine production facilities worldwide and
serves customers around the world.

 

For more information:
Almatis GmbH
Phone: +49.69.957341-0
E-Mail: info@almatis.com
www.almatis.com

01

Oct

2010

Press Release

 - Reorganisationsplan tritt am 30. September 2010 in Kraft

Die Almatis Gruppe gab heute bekannt, dass der am 20. September 2010 vom zuständigen Gericht in New York genehmigte Reorganisationsplan („Plan") heute in Kraft tritt. Almatis schließt damit die finanzielle Restrukturierung ab und beendet das Gläubigerschutzverfahren nach Chapter 11.

„Wir schließen heute nach nur fünf Monaten das Chapter 11-Verfahren ab und können uns wieder voll und ganz auf das Wachstum und die Weiterentwicklung unseres Geschäft konzentrieren", sagte Remco de Jong, CEO von Almatis. „Wie wir seit Beginn gesagt haben, gehen wir aus dem Verfahren als gestärktes Unternehmen mit deutlich geringerer Verschuldung und einem sehr starken operativen Geschäft hervor. Mit dieser verbesserten Finanzkraft und der Unterstützung durch DIC, die weiterhin unser Mehrheitsgesellschafter bleibt, können wir weiter investieren und Wachstumschancen nutzen."

Remco de Jong ergänzte: „Wir danken unseren Kunden, Lieferanten, Geschäftspartnern, Kreditgebern und Mitarbeitern für ihre Unterstützung während des gesamten Verfahrens. Das Vertrauen und der Einsatz aller Beteiligten haben maßgeblich zum erfolgreichen Abschluss der notwendigen Finanzrestrukturierung beigetragen."

Gemäß dem Plan wurden die bisherigen vorrangig besicherten Finanzverbindlichkeiten vollständig zurückgezahlt. Darüber hinaus erhalten die nachrangig besicherten Kreditgeber neue Schuldverschreibungen (sogenannte PIK Notes) und eine Beteiligung von 40 % am Eigenkapital der Almatis Gruppe. Im Gegenzug für ein Investment von neuem Eigenkapital in Höhe von 100 Millionen US-Dollar behält DIC einen Anteil von 60 % am Eigenkapital. Die Finanzierung der Auszahlungen im Rahmen des Plans wurde durch das Eigenkapital-Investment von DIC sowie durch eine Fremdkapitalfinanzierung von rund 565 Millionen US-Dollar sichergestellt, die von GSO Capital Partners, Sankaty Credit Opportunities IV und GoldenTree Asset Management garantiert wird. Außerdem steht dem Unternehmen eine weitere Kreditlinie in Höhe von 50 Millionen US-Dollar zur Verfügung, die von Bank of America, Merrill Lynch International und JP Morgan Chase bereitgestellt wird. Mit dem Inkrafttreten des Plans wird Almatis auch alle noch ausstehenden Forderungen aus der Zeit vor dem Chapter 11-Antrag zeitnah und in voller Höhe begleichen.

 

Almatis ist ein global führendes Unternehmen in der Entwicklung, Herstellung und Lieferung hochwertiger Spezialprodukte aus Aluminiumoxid. Das Unternehmen beschäftigt rund 900 Mitarbeiter an neun Produktionsstandorten weltweit. Die Produkte des Unternehmens werden in zahlreichen Industriezweigen verwendet, unter anderen bei der Herstellung von Stahl, Zement und Buntmetallen sowie in der Keramik-, Teppich- und Elektronikindustrie. Bis 2004 war Almatis die Chemiesparte von Alcoa.

Weitere Informationen:

FD

USA:      David Press   +1 212 850-5743

Europa: Lutz Golsch   +49 69 92037-110

                Ivo Lingnau  +49 69 92037-133

01

Oct

2010

Press Release

-  Effective date for the Plan of Reorganization ("the Plan") occurs on September 30, 2010

The Almatis Group today announced that its plan of reorganization (the "Plan"), which was confirmed by the United States Bankruptcy Court for the Southern District of New York on September 20, 2010, became effective today allowing Almatis to complete its financial restructuring and emerge from Chapter 11.

"Today's successful emergence from Chapter 11 after just five months allows us to turn our full attention to the growth and development of business again," stated Remco de Jong, CEO of Almatis. "As we have said before, we are emerging from Chapter 11 as a stronger company with significantly reduced debt and a strongly operating business. With this stronger financial footing and the support of DIC, who continues to be our majority shareholder, we are able to invest and pursue growth opportunities for the business."

Remco de Jong added: "We would also like to thank our customers, suppliers, business partners, lenders and employees for their support throughout this process. The commitment of our stakeholders was instrumental in effectuating the necessary financial restructuring."

Pursuant to the Plan, the existing senior debt was repaid in full. In addition, the junior lenders to Almatis will receive new PIK Notes and a 40% equity stake in the Almatis Group in exchange for their old claims. In exchange for a new $100 million equity investment, DIC will retain a 60% equity stake in the Almatis Group. Financing for the distributions under the Plan was provided from the new DIC equity investment and from approximately $565 million in new debt underwritten by GSO Capital Partners, Sankaty Credit Opportunities IV, and GoldenTree Asset Management. An additional $50 million revolving credit facility is provided by Bank of America, Merrill Lynch International and several units of JP Morgan Chase. As a result of the occurrence of the effective date of the Plan, Almatis will also pay in full all outstanding prepetition claims of trade vendors expeditiously.

About Almatis:

Almatis is a global leader in the development, manufacture and supply of premium specialty alumina products. With nearly 900 employees worldwide, the Company's products are used in a wide variety of industries, including steel production, cement production, non-ferrous metal production, ceramics, carpet manufacturing and electronic industries. Almatis operates nine production facilities worldwide and serves customers around the world. Until 2004, the business was known as the chemical business of Alcoa.

For more information:

FD

USA: David Pres +1 212 850-5743

Europe: Lutz Golsch +49 69 92037-110

             Ivo Lingnau +49 69 92037-133

21

Sep

2010

Almatis Group Chapter 11 Plan Confirmed by Court
9/21/2010 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release
  • Confirmation paves the way for the company’s emergence from Chapter 11
  • Implementation of the Plan expected by mid October


The Almatis Group announced today that the Chapter 11 plan of reorganization (the “Plan”) has been confirmed by the United States Bankruptcy Court for the Southern District of New York. At the confirmation hearing conducted today, the Court ruled that the Almatis Group had met the statutory requirements to confirm the Plan and entered a Confirmation Order.

Following the confirmation, Almatis is now moving diligently to implement the Plan as soon as practicable. Management expects that the Plan will become effective and Almatis will emerge from Chapter 11 by mid October. 
 

21

Sep

2010

Gericht genehmigt Chapter 11-Reorganisationsplan
9/21/2010 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release
  • Genehmigung schafft die Voraussetzung für die Beendigung des Chapter 11 -Verfahrens 
  • Umsetzung des Plans bis Mitte Oktober

 

Die Almatis Gruppe gab heute bekannt, dass das zuständige Gericht in New York im laufenden Gläubigerschutzverfahren nach Chapter 11 den Reorganisationsplan („Plan“) genehmigt hat. Bei der heutigen Anhörung zur Bestätigung des Plans („Confirmation Hearing“) hat das Gericht mit der Eintragung eines entsprechenden Bestätigungsbeschlusses („Confirmation Order“) entschieden, dass Almatis alle rechtlichen Voraussetzungen für eine Genehmigung des Plans erfüllt hat.

Nach der Genehmigung arbeitet Almatis konsequent an der schnellstmöglichen Umsetzung des Plans. Das Management von Almatis erwartet, dass der Plan bis Mitte Oktober rechtskräftig implementiert und das Chapter 11-Verfahren damit erfolgreich abgeschlossen werden kann.
 

27

Jul

2010

We are ALUMINA
7/27/2010 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release

Frankfurt, Germany – Almatis is celebrating the 100th anniversary of its specialty alumina business that began in 1910 when its predecessor, Alcoa, made the first sales of calcined alumina products for non-aluminum applications. This was the beginning of the alumina chemicals business. One hundred years later, Almatis has become a global producer of premium alumina, with 9 plants and a widely diverse product portfolio serving its target markets in the refractory, ceramic, polishing and carpet industries around the world. 

“The prime reason for our success was and still is the close working relationship we established with our customers,” stated Remco de Jong, Almatis CEO. “Let me take the opportunity to thank all of our customers, who continue to rely/ count on us for reliable delivery of quality products and superior technical support.”

The Almatis success story and the company's leading position in the industry is distinguished by ten decades of research and development in commercializing new uses of alumina as well as continued investments in process and product innovations.

“The specialty alumina business is rebounding from the recession and has a bright future,” asserts de Jong. “Almatis will continue our legacy of providing customers with premium alumina products.”

06

May

2010

Almatis Group Receives Court Approval of Its First Day Motions
5/6/2010 12:00:00 AM.ToString("dd. MMM yyyy")
Press Release
  •  First step implementation of agreed financial restructuring
  •  Approval asures that normal course business operations can continue

 The Almatis Group today announced that the United States Bankruptcy Court for the Southern District of New York has approved the relief requested in its First Day Motions that will enable the Company to continue to operate in the ordinary course of business. These motions were submitted April 30, 2010, as part of the voluntary filing of certain subsidiaries for reorganization under Chapter 11 of the United States Bankruptcy Code (“Chapter 11”). Chapter 11 allows Almatis Group to continue normal operations, led by the current management team, while restructuring its financial indebtedness.

The key first day relief granted to the Company by the Bankruptcy Court First Day Motions included approval to use its cash to continue wage, salary and benefit payments and to pay all vendors in the ordinary course for goods and services delivered after the filing. In addition, the Company received court authority to pay prepetition claims of employees and non-US trade vendors and prepetition claims of critical US trade vendors. 

Upon commencement of its chapter 11 cases, the Company also filed its pre-packaged Plan of Reorganization (“the Plan”), the terms of which have already been approved in a Plan Support Agreement signed by over two-thirds of the holders of the Group’s senior first lien debt. Creditors entitled to vote have until May 7 to submit votes. Pursuant to the Plan Support Agreement, the Group expects quickly to receive more than enough votes to allow approval of the Plan by the Bankruptcy Court. The Plan is expected to be presented for confirmation to the Bankruptcy Court approximately within the next 45 days.  

Almatis currently has approximately $85 million of available cash to meet operating expenses and provide liquidity while it works to restructure the balance sheet.

"Securing court approval for our first day motions was a critical first step in the Chapter 11 process," said Remco de Jong, CEO of Almatis. "These approvals will allow us to continue operations as usual. We are well prepared and are committed to complete this process as quickly as possible. We are convinced that once we have fixed our balance sheet, we will emerge from this process as a stronger Company.”  The consolidated case number for the chapter 11 filings by the Company is 10-12308. Additional information about the filing is available on the company's website at www.almatis.com and at the Claims Agent's Web site athttp://chapter11.epiqsystems.com/almatis.

Note to Editors:

About Chapter 11

Chapter 11 provides a recognized and practical legal framework to reorganize over-indebted businesses under the oversight of the United States Bankruptcy Court. The effect of a Chapter 11 filing is to provide a company with protection from precipitous creditor actions, while at the same time allowing the Company time and a workable legal framework to develop and implement a plan to reorganize its debt and, if necessary, its operations.  Chapter 11 allows the Company to continue to operate and maintain its business, under the control of the Company’s current management (“in the ordinary course”), during the restructuring process.  The ability to take actions in the ordinary course of business means that the Company can, among other things, continue to service its customers, receive supplies and pay wages and salaries to its employees. Chapter 11 is, therefore, regularly used by fundamentally sound operating companies to protect enterprise value as they reorganize their debt in an orderly process. Almatis has chosen Chapter 11 as the preferred legal tool for implementing its balance sheet restructuring following extensive evaluation of available alternatives.

About Almatis

Almatis is a global leader in the development, manufacture and supply of premium specialty alumina products. With nearly 900 employees worldwide, the Company's products are used in a wide variety of industries, including steel production, cement production, non-ferrous metal production, plastics, paper, ceramics, carpet manufacturing and electronic industries. Almatis operates nine production facilities worldwide and serves customers around the world. Until 2004, the business was known as the chemical business of Alcoa.

For more information:

FD

USA:     David Press  +1 212 850-5743

Europe:  Lutz Golsch  +49 69 92037-110

             Ivo Lingnau     +49 69 92037-133

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