Ampco-Pittsburgh (AP) Sidoti Micro-Cap Virtual Investor Conference summary

Business overview and strategic reset

• Operates in two segments: Forged and Cast Engineered Products, and Air and Liquid Processing, serving industrial markets in North America and Europe.

• Completed a business reset in 2025, eliminating unprofitable assets and closing the U.K. roll facility, resulting in $7–$8 million annual EBITDA improvement.

• Focus is now on multi-year earnings growth, operational efficiency, and balance sheet improvement.

• Revenue in 2024 exceeded $400 million with about 1,500 employees.

Forged and Cast Engineered Products segment

• Market leader in rolling mill rolls, primarily serving steel and aluminum producers in North America and Europe.

• Maintains strong customer relationships with major steel companies and operates joint ventures in China.

• Recent $30 million modernization of U.S. assets improved productivity and reliability.

• Tariff changes in the U.S. and Europe have increased domestic sourcing and are expected to boost demand.

• End markets are projected to grow 3–5% annually over the next five years, supporting high-margin incremental business.

Air and Liquid Processing segment

• Comprises Aerofin (heat exchangers), Buffalo Air Handling (custom air units), and Buffalo Pumps (centrifugal pumps for Navy and power generation).

• All three businesses have grown significantly, with 55% revenue growth over three years.

• Significant barriers to entry in nuclear and Navy markets; over 90% of North American nuclear plants are customers.

• Received $9 million from the U.S. Navy for facility modernization, supporting long-term growth.

• Growth strategy targets nuclear, small modular reactors, pharmaceuticals, and AI data center-related power generation.