GrafTech

GrafTech International LTD
Public
Traded as NYSE: EAF
Industry Graphite Electrodes, Steel
Founded 1886
Headquarters Brooklyn Heights, Ohio, United States
Number of locations
 14 Global Locations
Area served
 International
Key people
 David J. Rintoul (Chairman & CEO)
Products Graphite Electrodes, Needle Coke
Owner Brookfield Asset Management
Number of employees
 1,370
Subsidiaries Seadrift Coke L.P.
Website www.graftech.com

GrafTech International Holdings Inc., commonly referred to as GrafTech, is a leading manufacturer of high quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals. Founded in 1886, the company is headquartered in Brooklyn Heights, Ohio and wholly owned by Brookfield Asset Management.

Current operations

GrafTech currently has graphite electrode manufacturing facilities in Calais, France, Pamplona, Spain, Monterrey, Mexico and St. Marys, Pennsylvania. Its customers include major steel producers and other ferrous and non-ferrous metal producers in Europe, the Middle East and Africa (or EMEA), the Americas and Asia-Pacific (or APAC), which sell their products into the automotive, construction, appliance, machinery, equipment and transportation industries.

GrafTech is the only large scale graphite electrode producer that is substantially vertically integrated into petroleum needle coke, the primary raw material for graphite electrode manufacturing.[1]

History

GrafTech’s business was founded in 1886 as the National Carbon Company, which then merged with Union Carbide in 1917, and the business that would later become GrafTech began to operate as the Carbon Products Division of Union Carbide.

In 1914, the company introduced the first 12-inch diameter graphite electrodes.

In 1956, the company received an Academy Award for the development and production of a high-efficiency yellow flame carbon for motion picture color photography.

Between 1956–1978, the company Develops high performance carbon fibers; this work is recognized in 2003 with a National Historic Chemical Landmark from the American Chemical Society.

In 1985, the company Develops advanced technology for carbon/carbon composites used in spacecraft.

Union Carbide was reorganized in 1989, with the Carbon Products Division renamed as the UCAR Carbon Company.[2]

In 1990, the company introduced first 30-inch diameter graphite electrodes for UHP DC arc furnaces

In 1995, the company developed new graphite for the US Advanced Battery Consortium for lithium batteries in electric vehicles.

In 1995, the company went public via an initial public offering.[3]

In 1999, the company developed first natural graphite-based heat spreaders for electronic thermal management.

In 2002, the company changed its name from UCAR to Graftech.[3]

In 2004, the company introduced optimized pinless joint design for large-diameter graphite electrodes.[4]

In 2007, the company commercialized high-temperature insulation solutions for the polysilicon and solar industries .

In 2010, the company launched high thermal conductivity SPREADERSHIELD™ products for electronics and lighting applications.

In late 2010, GrafTech acquired two companies: Seadrift Coke LP, a manufacturer of needle coke, which is an essential component in the production of graphite electrodes; and C/G Electrodes LLC, which manufactures graphite electrodes.[5]

In February 2011, the company acquired Micron Research Corporation, a manufacturer of superfine-grained graphite.[6]

In October 2011, GrafTech acquired advanced carbon composite manufacturer Fiber Materials. Fiber Materials was sold in 2016.[7]

Between 2003–2011, the company won seven R&D 100 Awards in nine years.

In 2011, the company Dedicated two historical markers awarded by the Ohio Historical Society. One is for pioneering battery research made at Parma by Lewis Urry and National Carbon Company. The other recognizes the Lakewood facility’s long history and National Carbon Company.

In August 2015, GrafTech was purchased by Brookfield Asset Management.[8]

In 2016, the company initiated a process to simplify its operations and sold a number of assets to focus on its industrial materials segment, comprising two major categories: graphite electrodes and needle coke, which is the key raw material for producing graphite electrodes.[9]

In April 2018, the company announces IPO with shares listed on the New York Stock Exchange trading under the symbol "EAF."[10]

Controversies

On April 1, 1998, the company was subject to a class action lawsuit for allegedly artificially inflating stock price. In 2000, the class members won a settlement of $40.5 million.[11]

In 2001, the company was fined €50.4 million by the European Commission[12] and $110 million by the United States Department of Justice[13] for participating in an international price-fixing cartel with seven other firms in the market for graphite electrodes.

References

  1. ↑ "GrafTech International Ltd. 2018 Form S-1".
  2. ↑ Union Carbide: History
  3. 1 2 John Funk (July 17, 2010). "GrafTech rides smart-phone wave to profitability and expansion". Cleveland Plain Dealer.
  4. ↑ GrafTech International celebrates 125 years in business
  5. ↑ "GrafTech Agrees to Acquire Seadrift Coke L.P. and C/G Electrodes LLC, Concludes $260 Million Revolving Credit Facility Refinancing and Reports GrafTech's First Quarter 2010 Results" (Press release). Business Wire. April 29, 2010.
  6. ↑ Micron Research Corporation announces sale to GrafTech International
  7. ↑ "Edgewater Capital Partners Acquires Fiber Materials, Inc. from GrafTech International Holdings, Ltd" (Press release). Edgewater Capital Partners. December 8, 2016.
  8. ↑ "Brookfield Asset Management affiliate completes acquisition of GrafTech International". Crain's Cleveland Business.
  9. ↑ "Form 10-Q".
  10. ↑ "GrafTech Announces the Pricing of Its Initial Public Offering".
  11. ↑ "UCAR International, Inc. Securities Litigation". April 1, 1998.
  12. ↑ "European Commission fine for graphite electrode cartel".
  13. ↑ "United States Department of Justice fine for graphite electrode cartel". Archived from the original on 2013-04-15.
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