GrafTech
{{Infobox company
| name = GrafTech International Ltd.
| type = Public company
| traded_as = {{New York Stock Exchange|EAF}}
Russell 1000 Index component
| foundation = {{Start date and age|1886}}
| location_city = Brooklyn Heights, Ohio
| locations = 14
| area_served = International
| key_people = David J. Rintoul, Chairman & CEO
| products = Graphite electrodes
Petroleum coke
| revenue = {{increase}} $1.363 billion (YTD 2018)
| net_income = {{increase}} $0.624 billion (YTD 2018)
| assets = {{increase}} $1.502 billion (2018)
| equity = {{decrease}} -$1.038 billion (2018)
| owner = Brookfield Asset Management (55%)
| num_employees = 1,370 (2018)
| homepage = {{URL|http://www.graftech.com/}}
| footnotes = {{cite web | url=https://www.sec.gov/Archives/edgar/data/1090012/000156459018002582/dvn-10k_20171231.htm | title=GrafTech International Ltd. 2018 3rd Quarter Form 10-Q Quarterly Report | publisher=U.S. Securities and Exchange Commission}}
}}
GrafTech International Ltd. is a manufacturer of graphite electrodes and petroleum coke, which are essential for the production of electric arc furnace steel and other metals. Headquartered in Brooklyn Heights, Ohio, it has manufacturing facilities in Calais, France;Pamplona, Spain; Monterrey, Mexico; and St. Marys, Pennsylvania.
History
The company was founded in 1886 as the National Carbon Company, which in 1917 was acquired by Union Carbide and became its Carbon Products Division.{{cite web | url=http://www.graftech.com/wp-content/uploads/2014/12/GrafTech-historical-milestones.pdf | title=A history of innovation and growth | publisher=Graftech | access-date=2018-12-15 | archive-date=2018-12-15 | archive-url=https://web.archive.org/web/20181215223102/http://www.graftech.com/wp-content/uploads/2014/12/GrafTech-historical-milestones.pdf | url-status=dead }}
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 and 1978, the company developed high-performance carbon fibers; this would be recognized in 2003 with a National Historic Chemical Landmark from the American Chemical Society.
In 1985, the company developed advanced technology for carbon/carbon composite material used in spacecraft.
Union Carbide was reorganized in 1989, renaming the Carbon Products Division as the UCAR Carbon Company.{{Cite web | url=http://www.unioncarbide.com/history/ | title=Union Carbide: History | publisher=Union Carbide | access-date=2011-06-01 | archive-date=2011-05-27 | archive-url=https://web.archive.org/web/20110527175924/http://www.unioncarbide.com/history | url-status=dead }}
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 a lithium-ion battery in electric vehicles.
In 1995, the company became a public company via an initial public offering.{{cite news | url=https://www.cleveland.com/business/index.ssf/2010/07/graftech_of_parma_rides_smart-.html | title=GrafTech rides smart-phone wave to profitability and expansion | first=John | last=Funk | work=Cleveland Plain Dealer | date=July 17, 2010}}
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.
In 2004, the company introduced optimized pinless joint design for large-diameter graphite electrodes.
In 2007, the company commercialized high-temperature insulation solutions for the polysilicon and solar energy industries.
In 2010, the company launched high thermal conductivity SPREADERSHIELD™ products for electronics and lighting applications.
In 2010, GrafTech acquired two companies: Seadrift Coke LP, a manufacturer of petroleum coke, an essential component in the production of graphite electrodes; and C/G Electrodes LLC, which manufactures graphite electrodes.{{cite press release | url=http://www.businesswire.com/news/home/20100429005864/en/GrafTech-Agrees-Acquire-Seadrift-Coke-L.P.-CG | title=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 | publisher=Business Wire | date=April 29, 2010}}
In March 2011, the company acquired Micron Research Corporation, a manufacturer of superfine-grained graphite.{{cite press release | url=http://cartermorse.com/press-room/news-1/840-micron-research-corporation-announces-sale-to-graftech-international | title=Micron Research Corporation announces sale to GrafTech International | publisher=Carter Morse | date=March 9, 2011 | access-date=March 6, 2017 | archive-date=March 22, 2019 | archive-url=https://web.archive.org/web/20190322083448/http://cartermorse.com/press-room/news-1/840-micron-research-corporation-announces-sale-to-graftech-international | url-status=dead }}
In October 2011, the company acquired advanced carbon composite manufacturer Fiber Materials, which it would sell in 2016.{{cite press release | url=http://edgewatercapital.com/edgewater-acquires-fiber-materials/ | title=Edgewater Capital Partners Acquires Fiber Materials, Inc. from GrafTech International Holdings, Ltd. | publisher=Edgewater Capital Partners | date=December 8, 2016 | access-date=March 6, 2017 | archive-date=March 7, 2017 | archive-url=https://web.archive.org/web/20170307055047/http://edgewatercapital.com/edgewater-acquires-fiber-materials/ | url-status=dead }}
In 2011, the company was awarded two historical markers 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.{{cite web | url=http://www.remarkableohio.org/picture.php?/1501 | title=Remarkable Ohio}}
In August 2015, GrafTech was acquired by Brookfield Asset Management.{{cite news | title=Brookfield Asset Management affiliate completes acquisition of GrafTech International | url=https://www.crainscleveland.com/article/20150817/NEWS/150819822/brookfield-asset-management-affiliate-completes-acquisition-of | first=RACHEL ABBEY | last=MCCAFFERTY | work=Crain Communications | date=August 17, 2015}}{{cite press release | url=https://www.businesswire.com/news/home/20150817005641/en/Brookfield-Completes-Acquisition-GrafTech | title=Brookfield Completes Acquisition of GrafTech | publisher=Business Wire | date=August 17, 2015 }}
In 2017, the company sold its NeoGraf and Advanced Graphite Materials divisions to focus on graphite electrodes and petroleum coke.{{cite news | url=https://www.crainscleveland.com/article/20171013/news/138771/lakewood-company-has-new-name-same-focus | title=Lakewood company has new name, same focus | first=RACHEL ABBEY | last=MCCAFFERTY | work=Crain Communications | date=October 15, 2017}}
In April 2018, the company once again became a public company via an initial public offering.{{Cite press release | url=https://www.businesswire.com/news/home/20180418006689/en/GrafTech-Announces-Pricing-Initial-Public-Offering | title=GrafTech Announces the Pricing of Its Initial Public Offering | publisher=Business Wire | date=April 18, 2018}}
Controversies
On April 1, 1998, the company was subject to a class action lawsuit for allegedly artificially inflating stock price. In 2000, the company settled the lawsuit for $40.5 million.{{cite web | url=http://securities.stanford.edu/filings-case.html?id=100784 | title=UCAR International, Inc. Securities Litigation | date=April 1, 1998}}
In April 1998, the company was fined $110 million by the United States Department of Justice{{cite press release | url=https://www.justice.gov/archive/atr/public/press_releases/1998/1628.htm | title=United States Department of Justice fine for graphite electrode cartel | publisher=United States Department of Justice | date=April 7, 1998}} and in July 2001, the company was fined €50.4 million by the European Commission{{cite press release | url=http://europa.eu/rapid/press-release_IP-01-1010_en.htm | title=European Commission fine for graphite electrode cartel | date=July 18, 2001}} for participating in an international price fixing cartel with 7 other firms in the market for graphite electrodes.
References
{{Reflist|1}}
External links
- [http://www.graftech.com GrafTech International official website]
- [https://www.brookfield.com Brookfield Asset Management official website]
{{Authority control}}
Category:Companies listed on the New York Stock Exchange
Category:Companies based in Ohio