AP Ampco Pittsburgh Corp

Risks

• Cyclical demand for products and economic downturns could reduce the demand for, and sales of, our products, which could adversely affect our margins and profitability.
• Excess global capacity in steel industry could lower prices for our products, which could adversely affect our sales, margins and profitability, as well as collectability of receivables and salability of in-process inventory.
• A reduction in the level of export sales, as well as other economic factors in foreign countries, could have an adverse impact on our financial results.
• Fluctuation of the value of the U.S. dollar relative to other currencies could adversely affect our business, results of operations and financial condition.
• Commodity price increases, as well as any reductions in electricity, gas supply or shortage of key production materials, could adversely impact our production, which could result in lower profitability or higher losses.
• Dependence on certain equipment may cause an interruption in our production if such equipment is out of operation for an extended period of time, which could result in lower sales and profitability.
• The ultimate liability of our subsidiaries for claims alleging personal injury from exposure to asbestos-containing components historically used in certain products of our subsidiaries could have a material adverse effect on our financial condition or liquidity in the future.
• Potential attacks on information technology infrastructure and other cyber-based business disruptions could have a material adverse effect on our financial condition and results of operations.
• A change in the existing regulatory environment could negatively affect our operations and financial performance.
• New trade restrictions and regulatory burdens associated with “Brexit” could adversely impact our operations and financial performance.
• We may not be able to achieve expected benefits of restructuring our operations or consummating future divestitures of operations which become non-core to our portfolio.
• We may not continue to satisfy the continued listing requirements of the New York Stock Exchange.
• We face limitations in availability of capital to fund our strategic plans. Additionally, deterioration in our credit profile or increases in interest rates could increase our costs of borrowing and further limit our access to the capital markets and commercial credit.
• We have significant international operations and sales, and face risks related to health epidemics such as the coronavirus.