Ampco-Pittsburgh Subsidiary Accelerates Exit from U.K. Operations

Ampco-Pittsburgh Corporation (the “Company”) (NYSE: AP) announced that its wholly owned subsidiary, Union Electric Steel Corporation, has exited its U.K. cast roll operations. This exit effectively eliminates the operating losses to be incurred by its U.K. subsidiary, Union Electric Steel UK Limited. (“UES-UK”), starting in the fourth quarter 2025, rather than in the spring of 2026 as previously announced, and the significant cash plant closure costs associated with the previously anticipated wind-down operational plan. The Company is also increasing the estimated cost savings resulting from the exit to result in approximately $7 to $8 million increase in adjusted EBITDA on an annualized run-rate basis.

The exit became effective October 14, 2025, when UES-UK was placed into administration through a voluntary insolvent wind-up. This action is confined to the UES-UK subsidiary exclusively and does not affect the Company or any of its other subsidiaries.

Brett McBrayer, CEO of Ampco-Pittsburgh Corporation, stated: “With the conclusion of the consultation process yielding no viable solution, and considering the high cost of a wind-down closure along with the recent tariff volatility affecting demand and order timing in our roll business, we accelerated our exit from the U.K. This action ends the significant losses we have experienced over the past several years and removes excess capacity from our portfolio and the marketplace. On a full-year basis going forward, we expect an improvement of $7 to $8 million in adjusted EBITDA on an annualized run-rate basis, while avoiding large cash closure outflows and significantly reducing risks. We have been and will continue to work with our customers to help manage their cast roll supply needs in the near term and into the future. As a result of the U.K. exit, capacity utilization at our Sweden cast roll facility will increase significantly.”

Sam Lyon, President of Union Electric Steel Corporation, said: “Our U.K. operations have faced many challenges for several years, including unpredictable and high energy costs compared to our competitors, lack of demand for our product manufactured in the U.K., and increased imports of rolls and flat rolled steel into Europe from low-cost countries.”

“These headwinds created an unsustainable loss-making position for the past three financial years, with further losses expected for 2025 and projected beyond, had we not exited. Despite actively engaging with the Department for Business and Trade and exploring the sale of the plant, we were unable to find a sustainable solution to keep the plant operating. After thorough consideration and having explored all options, we concluded that an exit was the only viable path forward to ensure a strong future for our remaining operations.”