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AGY Holding Corp. Appoints New Interim CFO

Dépèche transmise le 16 avril 2012 par Business Wire

AGY Holding Corp. Appoints New Interim CFO

AIKEN, S.C.--(BUSINESS WIRE)--AGY Holding Corp. (“AGY”) today announced the appointment of Jay W. Ferguson as its Interim CFO, effective April 10, 2012. C. Steven Smoot, who joined AGY in June 2010, resigned effective April 10, 2012 and will stay through April 30, 2012 to ensure a smooth transition.

“We are excited to have someone with Jay’s operational experience and leadership capabilities join us”

“We are excited to have someone with Jay’s operational experience and leadership capabilities join us,” said Richard Jenkins, interim CEO, AGY Holding Corp. “Consistent with our strategy to stabilize operations and establish a platform to grow our business, we believe Jay has the right experience and skillset to help us meet our business objectives this year. We would also like to take this time to acknowledge and thank Steve Smoot for his leadership and contributions during his tenure at AGY.”

Mr. Ferguson brings nearly 30 years of diverse business experience to AGY, including 20 years at GE in various financial management roles and 7 years in private equity held companies. He has directed financial activities of businesses from $100 million to $1.5 billion in revenues. Most recently, Mr. Ferguson was Senior Vice President and Chief Financial Officer with Aquilex Holdings, LLC, a private equity-owned global provider of highly engineered products and services focused on serving the nuclear, fossil power, petrochemical, and refinery industries. He holds a B.S.B.A. degree from the University of Central Florida.

“I am thrilled to join AGY during this exciting time,” said Jay Ferguson, interim CFO, AGY Holding Corp. “I am impressed with the progress the new management team has made in such a short period of time, especially with respect to employee engagement, liquidity management and operational performance that will allow AGY to better serve its customer. I am confident that I can build on the progress the team made in the first quarter and strategically guide AGY toward long-term success.”

About AGY

AGY is a leading global producer of fiberglass yarns and high-strength fiberglass reinforcements used in a variety of composites applications. AGY serves a diverse range of markets including the following: aerospace and defense, (the “A&D” business); electronics; and construction, CFM and industrial markets (the “G&I” business). Headquartered in Aiken, South Carolina, AGY has a sales office in Lyon, France and two manufacturing facilities in the US, located in Aiken, South Carolina and Huntingdon, Pennsylvania and a controlling interest in a manufacturing facility in Shanghai, China. Additional information and a copy of this press release may be found at the Investor Relations section of the Company's website, www.agy.com or by email at [email protected].