Advanced Magnesium (ANM)

Shares / Stock Code

ANM

Stock Exchange / Sharemarket

ax

Advanced Magnesium (ANM) is a company engaged in the research and development magnesium technology, namely, new proprietary magnesium alloys and technologies. ANM's technology is required in order to support the future needs of automotive and other downstream users. There are developing markets for these new alloys and technologies and Advanced Magnesium has supporting in-house demonstration trials and programs for creating new applications in of these new alloy technologies to the customers. Advanced Magnesium was listed on the Australian Stock Exchange on July 7, 1983. Advanced Magnesium is specialising in alloy and process technology for the manufacturing industry. These technologies intend to improve the environmental profile of the magnesium and global automotive industries. Automotive industry is the biggest potential market for magnesium alloys.Although there exist significant opportunities which can increase the use of magnesium alloy in automobiles, many of these new applications demand for the development of new alloys, enhanced manufacturing technologies and significant design and technical support for the automotive supply chain.

The new high strength creep resistant magnesium alloys for automotive powertrain applications has greatly helped the auto manufacturers to reduce the weight of critical systems, such as engines and transmissions.This has resulted in the improved fuel efficiency and the reduced exhaust emissions , while maintaining or improving the performance of vehicles.

Advance Energy (ANM) History

The company was listed on the ASX on July 7, 1983. During the late 1990’s CSIRO, Ford and Normandy get involved in to the construction of a demonstration plant at Gladstone. In July 2000 the Company changed its name to Australian Magnesium Corporation. During the mid-2001 $902M of bank debt facilities for the $1.3B Stanwell project were secured and a prospectus was launched for a $680M equity issue. In June 2003, the Stanwell project was suspended due to cost overruns and shareholders accepted a restructure in November 2003.