SinterCast Annual General Meeting 2018

17:19 / 24 May 2018 SinterCast Pressmeddelande

[Stockholm, 24 May 2018] - The SinterCast AB (publ) Annual General Meeting (AGM) was held on 24 May 2018 in Stockholm.  During the AGM, presentations were provided by guest speaker Dr Ralf Marquard, a former executive manager at AVL, Deutz, FEV and MAN, and by Dr Steve Dawson, President & CEO.  The recorded presentations will be available on the SinterCast website on or before Wednesday 30 May.

Dr Marquard began his presentation by reviewing his experience in the passenger vehicle, commercial vehicle and industrial power industries, and referred to his direct involvement in developing CGI engines in each of these sectors.  Dr Marquard then provided an overview of internal combustion engines and alternative powertrains and presented an outlook for the potential market development.  He noted that diesel engines remain an important part of the global CO₂ solution and expressed confidence in the availability of cost-effective NOₓ solutions that enable the continued use of diesel engines.  He also presented the promising recent development of renewable fuels and how these `single carbon' fuels have the potential to make the life cycle CO₂ profile of combustion engines lower than that of battery electric vehicles.  In the commercial vehicle sector, Dr Marquard noted that, as electric hybridisation is introduced, the diesel engine will continue to be downsized, but the performance will increase.  The resulting increase in power-to-weight will increase the demand for CGI in both cylinder blocks and heads.  Overall, Dr Marquard acknowledged that electrification will increase, but noted that most vehicles will continue to have an internal combustion engine, and indeed, that the production of internal combustion engines may increase over the next decade.  He concluded by expressing confidence that CGI and SinterCast will play important roles in the future of the passenger vehicle, commercial vehicle and industrial power industries.
During the CEO presentation, Dr Dawson presented an overview of recent market activities and provided an outlook for the potential market development.  Dr Dawson's presentation expressed continued confidence in the growth of the core CGI market, including the planned start of production in the last of the Five Waves: in-line diesels for passenger vehicles.  He echoed the statements of Dr Marquard regarding the need for diesel engines to meet future CO₂ standards, and for the potential growth of internal combustion engines in passenger vehicle, commercial vehicle and off-road applications over the next decade, providing new opportunities for CGI.  The CEO presentation also stressed the importance of life cycle analyses in the development of emissions legislation and encouraged legislators to consider well-to-wheels emissions to ensure the best overall solutions for society.  Dr Dawson also took the opportunity of the AGM to provide an update on the SinterCast Tracking Technologies, stating that there was considerable interest in the foundry industry and that the Tracking Technologies have the potential to provide a meaningful contribution to the overall installation revenue.
During the AGM, Hans-Erik Andersson, Robert Dover, Caroline Sundewall and Steve Dawson were re-elected as Board members and Hans-Erik Andersson was re-appointed as Chairman. Jun Arimoto and Lars Hellberg were elected as new ordinary Board members and Andrea Fessler was elected as a new alternate Board member.  The biographies of Mr Arimoto and Mr Hellberg, outlining how they can contribute to the future development of SinterCast, are available on the SinterCast website.  Laurence Vine-Chatterton, Carina Andersson and Jason Singer declined re-election and were thanked for their many contributions.
The AGM also decided upon the constitution of the Nomination Committee until the next AGM, comprised of Ulla-Britt Fräjdin-Hellqvist (Chairman), Andrea Fessler, Hans-Erik Andersson and Aage Figenschou.  
The AGM authorised the Board to acquire and dispose of SinterCast shares such that the company's shareholding at any given time shall not exceed ten percent of the total shares in the company, and to transfer the number of SinterCast shares that the company holds at any given time, with a deviation from the shareholders' pre-emptive rights.  This authorisation enables the company to acquire its own shares so as to adapt the capital structure of the company at any given time and to be able to transfer shares in connection with the potential acquisition of a company or business.
All of the proposals presented to the AGM were approved by the shareholders.
This press release contains information that SinterCast AB (publ) is obliged to make public pursuant to the Swedish Financial Instruments Trading Act. The information was submitted for publication at 17:00 CET on 24 May 2018.

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 45 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 supports the series production of components ranging from 2.7 kg to 9 tonnes, all using the same proven process control technology.  As a specialist supplier of precision measurement and process control solutions to the metals industry, SinterCast also supplies a suite of tracking technologies, including the SinterCast Ladle Tracker®, Cast Tracker™ and Operator Tracker™, to improve process control, productivity and traceability in a variety of applications.  The SinterCast share is quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange (SINT). For more information: www.sintercast.com

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