AGY Announces Sale of Shanghai Operations to CPIC

June 28, 2013
A Ropes & Gray team is advising AGY Hong Kong Ltd, a majority-held subsidiary of AGY Holding Corp (“AGY”), on the sale of its 100% equity interest in AGY Shanghai Technology Co. Ltd. to Chongqing Polycomp International Corp (“CPIC”). The deal was announced on June 4, 2013, and pending receipt of required governmental approvals and the consent of the Bank of Shanghai, is expected to close in the third quarter of 2013.

AGY Holding Corp, together with its subsidiaries, engages in designing, developing, manufacturing, and marketing high-strength fiberglass reinforcements used in a variety of composites applications for the aerospace, defense, construction, electronics, automotive, and industrial markets. AGY’s Shanghai operations produce a range of high-quality electronic glass fibers, such as G75, G150 and D450, for use in the global electronics industry.

The Ropes & Gray team advising AGY was led by private equity partner Craig Marcus.