AMPCO PITTSBURGH Business Summary

Ampco-Pittsburgh Corporation (NYSE: AP) operates a diversified industrial manufacturing model, generating revenue through the production and sale of highly engineered specialty metal products and customized equipment. The company is organized into two primary segments: Forged and Cast Engineered Products (FCEP), which accounts for approximately 66% of total revenue by manufacturing forged hardened steel rolls and open-die forged products for the steel and aluminum industries, and Air and Liquid Processing (ALP), which produces custom-engineered heat exchange coils, centrifugal pumps, and large-scale air handling systems. AP maintains a global manufacturing footprint across the United States, Sweden, and Slovenia, with strategic joint ventures in China. Direct competitors include Arconic, Voestalpine AG, Nippon Steel, and United States Steel; within this landscape, Ampco-Pittsburgh distinguishes itself as the world’s largest manufacturer of forged hardened steel rolls and a critical supplier to the nuclear, pharmaceutical, and U.S. military sectors. Incorporated in 1929 through the consolidation of Ampco Metal and Pittsburgh Forge and Iron, the company is currently led by Chief Executive Officer J. Brett McBrayer, who brings an extensive industrial pedigree from senior leadership roles at Alcoa and Precision Castparts. In January 2026, David G. Anderson transitioned to the role of Chief Financial Officer and Treasurer, leveraging over 35 years of finance experience and a successful tenure as President of the company’s Air & Liquid Systems subsidiary. The leadership team is supported by a board chaired by James J. Abel and includes notable members such as Dr. Laurence E. Paul of Laurel Crown Partners. Significant institutional backing is provided by the Louis Berkman Investment Co., which holds a roughly 15% stake, and Mario Gabelli’s GAMCO Asset Management, reflecting a stable investor base that supports the firm’s ongoing strategic restructuring and expansion into high-growth defense and energy markets.