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Ampco-Pittsburgh Corporation Explores Financing Alternatives

Mar 30, 2022•over 3 years ago
Carnegie

Description

Ampco-Pittsburgh Corporation (NYSE: AP) (“Ampco-Pittsburgh” or the “Corporation”) announced today that it is exploring the possibility of obtaining incremental capital. The Corporation is considering, among other alternatives for equity financing, amending its outstanding Series A warrants to adjust either, or both of, the exercise price or the number of shares of the Corporation’s common stock for which such Series A warrants may be exercised. Ampco-Pittsburgh intends to test the waters to evaluate potential forms of financing to help fund working capital growth opportunities, address rising inflation and work to complete its capital expenditure modernization program.

Company Information

Company

Ampco Pittsburgh Corporation

Location

Carnegie, Victoria, Australia

About

Ampco-Pittsburgh Corporation manufactures and sells highly engineered, high-performance specialty metal products and customized equipment utilized by industry throughout the world. Through its operating subsidiary, Union Electric Steel Corporation, it is a leading producer of forged and cast rolls for the global steel and aluminum industry. It also manufactures open-die forged products which principally are sold to customers in the steel distribution market, oil and gas industry and the aluminum and plastic extrusion industries. The Corporation is also a producer of air and liquid processing equipment, primarily custom-engineered finned tube heat exchange coils, large custom air handling systems and centrifugal pumps. It operates manufacturing facilities in the United States, England, Sweden and Slovenia, and participates in three operating joint ventures located in China. It has sales offices in North America, Asia, Europe, and the Middle East. Corporate headquarters is located in Carnegie, Pennsylvania.