AGY have announced today that it has decided to start the process to sell its continuous filament mat (CFM) business sighting the decision to align the company’s strategic objectives and product portfolio. The proposed sale will have no impact on AGY’s core yarn and specialty roving business.
Re-aligning its product portfolio will allow the company to focus on its specialty material products, Drew Walker, President of AGY said;
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, 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, including the wound products and conductive roving business. Since acquiring the plant in 2007, AGY has profitably produced the unique 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.