Exhibit 99.1

AGY Holding Corp. Announces 2011 Third Quarter Consolidated Results and Earnings

Conference Call

AIKEN, SOUTH CAROLINA - (November 11, 2011) – AGY Holding Corp. (“AGY” or the “Company”) reports the highlights of its consolidated 2011 third quarter results:

Summary Financial Performance

($ in millions)

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See Appendix D where EBITDA and Adjusted EBITDA are defined and reconciled from net (loss) income determined under GAAP.

Net sales in the third quarter of 2011 were $46.6 million, which consists of $39.6 million of sales reported by AGY US and $7.0 million of sales reported by the AGY Asia business segment.

AGY US - Revenues in the third quarter of 2011 increased $0.7 million, or 1.8%, compared to the third quarter of 2010, due to a favorable mix shift towards our advanced materials and price increases, which we implemented and retained across most markets since early 2011, partly offset by lower sales volumes. Our A&D market revenues were up 18% when compared to the third quarter of 2010, reflecting 27% improved revenue level for aerospace with continued robust demand for both new and legacy commercial programs, while defense revenues were down 5% as a result of delays in certain major international programs. The electronics market revenues increased by 3% due to pricing actions and mix enrichment, partly offset by a 13% decrease in volumes reflecting a global slowdown for this market, which started in general electronics yarns during the second quarter of 2011. Any recovery is not expected before year-end. The increases in revenues for these markets were partly offset by a 7% decrease in our G&I market revenues compared to the third quarter of 2010. This $1.4 million decrease was largely caused by lower construction market demand, where revenues decreased 40% for the third quarter, reflecting some market share loss. In addition, G&I revenues were negatively impacted by lower Continuous Filament Mat (“CFM”) revenues, which decreased by 20% when compared to the third quarter of 2010 as a result of market share loss at key accounts following 2010 fourth quarter pricing actions. However, other industrial market revenues increased by 20% as a result of a more favorable mix and pricing actions compared to the third quarter of 2010, but were recently negatively impacted by the general economic slowdown.

AGY Asia - Revenue growth in the third quarter of 2011 was limited to 5%, compared to the third quarter of 2010 (after accounting for the elimination of intercompany sales) due primarily to a favorable product mix, partly offset by lower average selling price resulting from weaker market conditions for general electronics yarns since May 2011.

The Company reported consolidated losses from operations for the third quarter of 2011 of $1.9 million, compared to loss from operations of $0.9 million reported in the third quarter of 2010. Adjusted for the restructuring expenses and gain on alloy sales reported in our highlights section, which were not recurring in 2011, the AGY US operating results decreased by $1.3 million, driven primarily by the diminishing challenges in operations resulting from the destabilizing effect of major capacity scale up in our Aiken, SC plant during the first half of 2011. AGY Asia operating results decreased $1.2 million as a result of lower average selling price and increased production costs driven primarily by inflation and the negative impact caused by the appreciation of the Chinese currency compared to the U.S. dollar.

AGY reported consolidated net losses attributable to the Company of $7.6 million for the third quarter of 2011 compared to a loss of $6.7 million for the third quarter of 2010 as a result of lower operating results for both AGY US and AGY Asia.

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As of September 30, 2011, total debt, net of cash, was $237.7 million, or a $7.7 million increase compared to December 31, 2010. An increase of $10.0 million was attributable to AGY US due to operating losses and the first half of 2011 capacity scale up investments.

As of September 30, 2011, AGY US and AGY Asia had total liquidity of approximately $17.0 million and $8.5 million, respectively. AGY US liquidity has been recently adversely affected by lower platinum and rhodium market prices, which impact AGY US borrowing base under the $50 million Senior Secured Revolver Credit Facility. We expect to borrow an additional approximately $4.4 million under the Amended Credit Facility as compared to September 30, 2011, in order to fund in part the interest payment due on our Notes on November 15, 2011. Following this additional borrowing we will have approximately $32.5 million of outstanding borrowings and $3.1 million of undrawn letters of credit under the Amended Credit Facility and, based on the projected change in our borrowing base since September 30, 2011, reflecting our October 30, 2011 borrowing base adjusted for current precious metal market prices and the recent sale by us of some of our owned platinum, we currently estimate that our undrawn availability will be reduced to approximately $12.3 million. Any further reduction in the AGY US borrowing capacity, whether due to additional borrowings or a reduction in the borrowing base resulting from further declines in the market price of the eligible alloy metals inventory or the amount of eligible accounts receivable or other inventory used to calculate the borrowing base under the Amended Credit Facility (or any increase in the amount of reserves required by the lender in its permitted discretion) could have material adverse consequences for us.

AGY is a leading global producer of fiberglass yarns and high-strength fiberglass reinforcements used in a variety of composites applications. AGY serves a diverse range of markets including the following: aerospace and defense, (our “A&D” business); electronics; and construction, CFM and industrial markets (our “G&I” business). Headquartered in Aiken, South Carolina, AGY has a sales office in Lyon, France and Hong Kong, China and two manufacturing facilities in the US, located in Aiken, South Carolina and Huntingdon, Pennsylvania and a controlling interest in a manufacturing facility in Shanghai, China. Additional information and a copy of this press release may be found at the Investor Relations section of the Company’s website, www.agy.com or by email at info@agy.com.

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Certain statements contained in this release are forward-looking and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Among these risks and uncertainties are general economic and business conditions; the Company’s substantial debt and ability to generate cash flows to service its debt; the Company’s compliance with the restrictive covenants contained in its various debt agreements; adverse changes in market conditions or product demand; the level of cost reduction achieved through restructuring and capital expenditure programs; changes in energy, alloy metals and raw material costs and availability; downward selling price movements; the success of new technology; labor disputes or increased labor costs; AGY US borrowing base sensitivity to precious metals market prices and amount of owned alloy metals; currency and interest rate fluctuations; increases in the Company’s leverage; the Company’s ability to effectively integrate acquisitions; the Company’s ability to finance the consideration to be paid pursuant to the put/call agreement for the 30% noncontrolling interest in AGY Asia; changes in the Company’s business strategy or development plans; the timing and cost of plant closures; and increases in the cost of compliance with laws and regulations. Factors that could cause actual results to differ materially from these forward-looking statements include but are not limited to those risk factors listed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. AGY does not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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The Company will hold a conference call to discuss the third quarter 2011 results and respond to questions. The details for the call are as follows:

Date: November 14, 2011

Time: 1:00 p.m. EDT

Dial-in number: 866-939-3921 or 678-302-3550

Conference ID: N/A (Operator Assisted)

Please dial in 10-15 minutes prior to the start time. An operator will request your name and organization and ask you to wait until the call begins.

Rebroadcast of this conference will be available two hours after it is complete. Parties who are interested in listening to the rebroadcast may dial 866-939-0581 or 678-302-3540 and when prompted enter pin – 4804300#. At system prompt dial ‘4’ to listen to a previously recorded conference. When prompted, enter confirmation number – 20111102437022#. The rebroadcast will be available through December 14, 2011.

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Appendix A.

AGY Holding Corp. and Subsidiaries

Consolidated Balance Sheets

(In thousands except share and per share data)

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Appendix B.

AGY Holding Corp. and Subsidiaries

Consolidated Statements of Operations

(In thousands, unless otherwise noted)

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Appendix C.

AGY Holding Corp. and Subsidiaries

Consolidated Statements of Cash Flows

(In thousands, unless otherwise noted)

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Appendix D.

AGY Holding Corp. and Subsidiaries

Reconciliation of Net Income to EBITDA and Adjusted EBITDA

(In thousands, unless otherwise noted)

The Company’s management uses EBITDA and Adjusted EBITDA, which are non-GAAP financial measures, to measure operating performance.

The most directly comparable financial measure determined under GAAP is net income (loss), the calculation of which for the three months and nine months ended September 30, 2011 is set forth on Appendix B.

EBITDA and Adjusted EBITDA (which are defined below) are reconciled from net income (loss) determined under GAAP as follows (dollars in thousands):

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EBITDA is defined as earnings before interest, taxes, depreciation and amortization. EBITDA is a non-GAAP financial measure used by management to measure operating performance. EBITDA is not a recognized term under GAAP and does not purport to be an alternative to net income as a measure of operating performance or to cash flows from operating activities as a measure of liquidity. Additionally, EBITDA is not intended to be a measure of free cash flow available for management’s discretionary use, as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements. Management believes EBITDA is helpful in highlighting trends because EBITDA excludes the result of decisions that are outside the control of operating management and can differ significantly from company to company depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which companies operate and capital investments. In addition, management believes EBITDA provides more comparability between AGY’s historical results and results that reflect purchase accounting and changes in AGY’s capital structure. Management compensates for the limitations of using non-GAAP financial measures by using them to supplement GAAP results to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone. Because not all companies use identical calculations, these presentations of EBITDA (as well as Adjusted EBITDA) may not be comparable to other similarly titled measures of other companies.

Adjusted EBITDA is a non-GAAP financial measure which is defined as EBITDA further adjusted as permitted and calculated in the manner that consolidated cash flow is calculated under the indenture governing the Company’s senior secured notes, relative to certain provisions, including but not limited to, restricted payments and incurrence of additional indebtedness.

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