Company Overview of AGY Holding Corp.
AGY Holding Corp., together with its subsidiaries, engages in designing, developing, manufacturing, and marketing glass fibers for the aerospace, defense, construction, electronics, automotive, and industrial markets. Its glass fibers are used as reinforcing materials in various applications, including aircraft laminates, ballistic armor, pressure vessels, roofing membranes, insect screening, architectural fabrics, and electronics. The company also offers continuous filament mat, a glass fiber reinforcement product used as an input in the production of flat sheet laminates, marine parts, and accessories. It sells its products in the Americas, Europe, and Asia. The company was incorporated in...
2556 Wagener Road
Aiken, SC 29801
Founded in 2004
Key Executives for AGY Holding Corp.
Vice President of Technology
Vice President of Finance and Corporate Controller
Compensation as of Fiscal Year 2013.
AGY Holding Corp. Key Developments
AGY Holding Corp. and KAGY Holding Company, Inc. Announces Executive Appointments
Jul 9 13
AGY Holding Corp. and KAGY Holding Company Inc. announced that, effective July 9, 2013, Drew Walker has been named President & Chief Executive Officer of each of the companies. Since joining the companies in 2005, Mr. Walker has served as Vice President of Sales and Marketing and, most recently, as President. Over the past 18 months, Richard Jenkins of Alvarez & Marsal has served as company's Interim Chief Executive Officer. Also effective July 9, 2013, Jay Ferguson has been named Chief Financial Officer of each of the companies on a permanent basis. He has been serving as Interim Chief Financial Officer for the past 14 months. Mr. Ferguson has over 30 years of experience, including 20 years with General Electric and 9 years serving various portfolio companies of private-equity-owned organizations.
AGY Holding Corp. Announces New Financing and Debt Restructuring
Jul 1 13
AGY Holding Corp. and KAGY Holding Company Inc. announced that they have entered into a series of agreements for the restructuring of the companies’ business and exchange of certain of AGY’s outstanding 11% senior second lien notes due 2014.
AGY Holding Corp. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2013
May 15 13
AGY Holding Corp. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. Consolidated net sales decreased $3.4 million or 7.2%, from $47.1 million in the first quarter of 2012 to $43.7 million in the first quarter of 2013, which consists of $36.7 million of sales reported by the AGY US business segment (AGY US) and $7.0 million of sales reported by the AGY Asia business segment (AGY Asia). Net loss attributable to company and loss before income tax expense was $4.7 million against net loss and loss before income tax expense $8.4 million of prior year period. Consolidated income from operations was $1.5 million for the first quarter of 2013, compared to a loss of $2.6 million for the same period in 2012. Adjusting for the impact of a $1.3 million decrease in restructuring charges, a $1.0 million decrease in metal depletion expenses from the advanced sale of 2012 metal recoveries in late 2011 for AGY US, a $0.1 million increase in restructuring costs and a $0.3 million increase in metal depletion expenses related to prior years for AGY Asia, AGY US and AGY Asia operating results increased by $1.8 million and $0.4 million, respectively, in the first quarter of 2013 compared to the same period of 2012. Adjusted EBITDA attributable to the company (which excludes the portion of Adjusted EBITDA attributable to the 30% non-controlling interest in AGY Asia) was $7.5 million for the first quarter of 2013, compared to $6.5 million in the first quarter of 2012. Net cash provide by operating activities was $1.6 million against $6.6 million for the same period last year. Purchases of property and equipment and alloy metals were $1.1 million against $0.3 million of prior year period.
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