AFARAK GROUP SIGNS A 3-YEAR AGREEMENT WITH GLOB...

10:00 London, 12:00 Helsinki, 07 April 2016 - Afarak Group Plc ("Afarak" or "the Company") (LSE: AFRK, OMX: AFAGR)

AFARAK GROUP SIGNS A 3-YEAR AGREEMENT WITH GLOBAL LEADING MANUFACTURER FOR SALE OF LOW CARBON FERRO CHROME

Afarak Group plc ("Afarak" or the "Company) (LSE: AFRK, NASDAQ: AFAGR) announces that it has entered into long-term agreement with a world-leading developer and manufacturer of products made from advanced stainless steel and special alloys.  Afarak will supply Low Carbon Ferro Chrome produced at its wholly-owned subsidiary Eschweiler-Weisweiler plant in Germany.

Dr Alistair Ruiters, CEO of Afarak, said "This long-term agreement confirms Afarak's reputation as a leading supplier of speciality Low Carbon Ferro Chrome.  By being a vertically-integrated Group we are able to supply our customers with their specific alloy requirements and this agreement confirms our commitment to quality and to our clients.  Today, Afarak continues to supply leading market leaders in a variety of sectors including aerospace, nuclear energy and oil & gas."

This agreement comes on the back of another 3-year sales agreement Afarak concluded with US company Carpenter Technology Corporation. These long-term agreements continue to position Afarak as a leading specialist alloys producer.

Contact:

Media

Jean Paul Fabri
PR & Communications Manager
[e-mail]

About Afarak

Afarak is a vertically-integrated specialist alloys company.  Throughout its various operations in South Africa, Turkey and Germany, Afarak extracts, processes, markets and trades its specialised metals. Trusted by a highly diversified customer base that includes industry leaders from the aviation, nuclear, oil & gas and automotive sectors; the Company is able to produce a unique alloy mix for every customer. As the Company aims to create value across the product-chain, Afarak remains committed to sustainable development, investment and to delivering a healthy financial performance for its shareholders. Afarak is listed on the Helsinki Stock Exchange (AFAGR (OMX)) and the London Stock Exchange (AFRK).

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Source: Afarak Group via Globenewswire

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