Ampco-Pittsburgh (AP) 17th Annual Southwest IDEAS Conference summary

Strategic overview and portfolio changes

• Exited all unprofitable businesses, including U.K. and non-core facilities, improving portfolio profitability and operational focus.

• Two main segments: forging/casting/products and air and liquid processing, both with leading market positions in North America and Europe.

• Strategic investments of $30 million in modernization have increased efficiency and capacity, especially in forged engineered products.

• Tariff and quota changes in the U.S. and Europe are creating significant tailwinds, reducing import competition and supporting domestic sales.

• End markets, including construction, infrastructure, and aluminum, are projected to grow at mid-single-digit rates through 2030.

Forging, casting, and product segment

• Largest Western rolling mill roll manufacturer outside China, with 70% of sales in North America and Europe.

• Product mix includes backup rolls, work rolls, and forged engineered products, with rolls accounting for up to 90% of sales.

• Recent exit from a European cast roll facility and U.K. operations has streamlined the footprint and eliminated losses.

• U.S. tariffs (25–50%) and European quota reductions are boosting demand for domestic and regional products.

• Modernized plants, especially in Sweden, offer energy independence and competitive advantages.

Air and liquid processing segment

• Three businesses: Aerofin (heat exchangers, especially for nuclear), Buffalo Air Handling (pharma/HVAC), and Buffalo Pumps (U.S. Navy and power generation).

• Achieved 55% revenue growth over three years, with ongoing double-digit growth targets and increased capacity.

• Significant barriers to entry in nuclear and Navy markets, with long-term contracts and funding support (e.g., $9 million from the Navy for plant modernization).

• Nuclear market growth driven by plant restarts, life extensions, and new small modular reactors.

• Active international expansion efforts, including partnerships for AUKUS submarine projects and global nuclear sales via Curtiss-Wright.