SinterCast Annual General Meeting 2016
[Stockholm, 19 May 2016] - The SinterCast AB (publ) Annual General Meeting (AGM) was held on 19 May 2016 in Stockholm. During the AGM, presentations were provided by Dr Mark Jolly, Professor of Sustainable Manufacturing at Cranfield University, and by Dr Steve Dawson, President & CEO. The recorded presentations will be available on the SinterCast website on or before Tuesday 24 May.
Professor Jolly began his presentation by providing an introduction to Cranfield University and an overview of his experience as a researcher in the cast iron and aluminium foundry industries, and as a professor of sustainable manufacturing. Professor Jolly introduced prior studies showing the energy intensity and CO2 emissions of aluminium production relative to cast iron, and emphasised the importance of life cycle energy analysis, particularly in the automotive industry. In particular, Professor Jolly noted that the production of each kilogram of primary aluminium generates approximately 10 kg of CO2; approximately four times that of iron. Professor Jolly presented the outline of a new project that is being conducted at Cranfield University to quantify the energy consumption in each step of the cast iron and aluminium manufacturing processes, from mining through to manufacturing, on-road use and recycling. The Cranfield study focusses on the cylinder block because it is the single heaviest component in most passenger vehicles. Professor Jolly plans to present the conclusions of the Cranfield University project before the end of 2016, as an input to decision makers in the automotive industry and to legislators, to promote holistic solutions that can improve the environment.
During the CEO presentation, Dr Dawson presented an overview of recent market activities and provided an outlook of SinterCast's potential market development. Dr Dawson's presentation expressed continued confidence in the market development, including the potential to secure production references in the last of the Five Waves: in-line diesels for passenger vehicles. He also stated that the milestone of three million Engine Equivalents can be achieved with the programmes that are currently in series production plus the programmes that are approved and slated for production at SinterCast's partner foundries. Beyond the market development, Dr Dawson showed that the penetration of electric vehicles is not expected to affect SinterCast's market development and he presented the environmental contributions of engines with SinterCast-CGI cylinder blocks. Dr Dawson also took the opportunity of the AGM to introduce the new Ladle TrackerTM technology, reinforcing SinterCast as a market leader in providing unique solutions that improve process control and productivity in the foundry industry.
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.
All of the proposals presented to the AGM were approved by the shareholders.
For and on behalf of the Board of Directors:
|President & CEO|
|SinterCast AB (publ)|
|Tel:||+46 8 660 7750|
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. The SinterCast technology, with 44 installations in 13 countries, 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: http://www.sintercast.com