Welcome to our dedicated page for Ferroglobe news (Ticker: GSM), a resource for investors and traders seeking the latest updates and insights on Ferroglobe stock.
Ferroglobe PLC (NASDAQ: GSM) is a producer of silicon metal, silicon-based specialty alloys, manganese-based specialty alloys and ferroalloys, supplying customers in end markets such as solar, electronics, automotive, consumer products, construction and energy. This news page aggregates company announcements, earnings releases and other public updates related to GSM.
Readers can review quarterly and annual financial results, where Ferroglobe reports sales, adjusted EBITDA, net income or loss, cash and debt metrics, and detailed performance by product category. These releases often discuss market conditions, demand trends in steel and foundry sectors, raw material and energy costs, and the impact of trade measures in the U.S. and European Union on silicon metals, silicon alloys and manganese alloys.
The news flow also covers capital allocation and shareholder matters, including disclosures on quarterly cash dividends, share repurchases and index membership such as inclusion in the Russell 2000 and Russell 3000 indexes. Announcements of earnings call schedules provide information on upcoming webcasts and conference calls for investors and analysts.
In addition, Ferroglobe’s updates highlight strategic and partnership developments, such as its role as a key materials partner to Coreshell, a battery technology company working on silicon anode lithium-ion batteries. These items illustrate how Ferroglobe’s silicon products are being used in emerging applications, including electric vehicles, robotics and defense-related battery systems.
By following this page, users can access a chronological record of GSM-related press releases and official communications, covering financial performance, trade and regulatory developments, capital returns, index changes and technology partnerships.
On May 13, 2021, Ferroglobe appointed Belen Villalonga, Silvia Villar-Mir de Fuentes, Nicolas De Santis, and Rafael Barrilero Yarnoz to its board of directors. Bruce Crockett was appointed as the lead independent director. The new directors bring diverse expertise, enhancing the board's capabilities during a strategic turnaround aimed at improving competitiveness. Villalonga has extensive experience in corporate governance, whereas Villar-Mir holds significant ownership and board experience. De Santis focuses on digital business transformation, and Barrilero advises on talent management. These changes are expected to bolster Ferroglobe's strategic execution.
Ferroglobe PLC (NASDAQ: GSM) announced on May 12, 2021, that its indirect subsidiary, Ferroglobe Finance Company, PLC, entered a Note Purchase Agreement for the issuance of $40 million of new senior secured notes, part of a $60 million offering. Existing holders of the 9.375% Senior Notes due 2022 will have the opportunity to subscribe for a pro rata share of the new notes. The issuance is set to take place next week, with further details to follow for noteholders who haven't signed the Lock-Up Agreement.
Ferroglobe PLC (NASDAQ:GSM) is set to release its first quarter financial results on May 17, 2021, after market hours. The quarterly earnings call will occur on May 18, 2021, at 9:00 AM EDT, with participation available via phone and webcast. As a prominent supplier of silicon metal and specialty alloys, Ferroglobe serves diverse markets such as solar and automotive.
Ferroglobe PLC (NASDAQ: GSM) announced that approximately 96% of holders of its 9.375% Senior Notes due 2022 have signed a Lock-Up Agreement. The Company will proceed with an exchange offer instead of an English law scheme of arrangement, allowing for a quicker, more cost-effective refinancing process. This decision is expected to support execution of Ferroglobe's strategic plan. The CFO highlighted strong noteholder support as a positive signal for the Company’s financing efforts. Further details regarding the exchange offer will be released soon.
Ferroglobe PLC (NASDAQ: GSM) announced that over 92% of holders by value of its 9.375% Senior Notes due 2022 have signed the Lock-Up Agreement, exceeding the threshold necessary to proceed with a scheme of arrangement. The company has extended the Consent Fee Deadline to April 19, 2021, allowing more noteholders to join. Those not yet signed can contact the Information Agent for details. Holders eligible for the 1% Early Cash Consent Fee must sign the Lock-Up Agreement by the deadline.
Ferroglobe PLC (NASDAQ: GSM) confirms its ongoing Lock-Up Agreement from March 27, 2021, concerning holders of its 9.375% Senior Notes due 2022. Noteholders who haven't signed can contact the Information Agent to join the agreement. Signing by April 15, 2021, is essential to qualify for a 1% Early Cash Consent Fee. Ferroglobe specializes in silicon metal and alloys, serving diverse sectors like solar and automotive.
On March 29, 2021, Ferroglobe PLC (Nasdaq:GSM) announced its engagement with the European Works Council to discuss an asset optimization program aimed at ensuring its long-term viability in Europe. The Company plans to scale back production at certain facilities, aligning its asset footprint with market demand and improving operational efficiency. CEO Marco Levi emphasized that these strategic actions are crucial for enhancing financial health and competitiveness, reflecting past performance challenges. The focus includes optimizing production costs and trimming overheads.
Ferroglobe PLC (NASDAQ: GSM) has announced a financing agreement encompassing a $100 million capital raise through new debt and equity issuances and extending its 9.375% Senior Notes due 2022. The $40 million equity raise is backed by Tyrus Capital, with existing note holders representing 60% of 2022 Senior Notes involved in the Lock-Up Agreement as of March 27, 2021. The company anticipates improving margins due to positive market trends, although inflationary pressures on raw materials persist. As of February 28, 2021, Ferroglobe had $130 million in total cash.
Globe Specialty Metals, Inc. (GSM) welcomed the U.S. International Trade Commission's 5-0 vote on March 24, 2021, confirming that unfair silicon metal imports from Bosnia and Herzegovina, Iceland, and Kazakhstan are injuring the U.S. industry. This decision allows the U.S. Department of Commerce to impose antidumping and countervailing duties on these imports for at least five years. GSM's action aims to establish fair competition in the silicon metal market, supporting U.S. manufacturers and the economy.
On March 24, 2021, Globe Specialty Metals and Mississippi Silicon announced the U.S. International Trade Commission's unanimous vote affirming that unfairly traded silicon metal imports from Bosnia and Herzegovina, Iceland, and Kazakhstan are a material threat to U.S. manufacturers. This decision enables the U.S. Department of Commerce to impose antidumping and countervailing duties for at least five years. This move is aimed at ensuring fair competition and protecting U.S. jobs, according to company officials. A separate ruling on Malaysia's silicon metal imports is expected in June 2021.
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