GrafTech logs 3d-qtr. loss, begins cost cutting

Oct 31, 2013 | 01:55 PM | Catherine Ngai

Tags  steel, GrafTech International, Craig Shular, graphite electrodes, electric-arc furnace, third-quarter earnings, Catherine Ngai

NEW YORK — Difficult global economic conditions have pushed graphite electrode producer GrafTech International Ltd. to close facilities and change strategy at others to remain profitable and position itself for the future, the company said in its third-quarter earnings release Oct. 31.

The Parma, Ohio-based company, which produces graphite electrodes for use in electric-arc furnace steelmaking, posted a net loss of $7.63 million in the three months ended Sept. 30 vs. net income of $29.63 million in the same period a year ago on sales that dipped 5.5 percent to $303 million.....

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