GrafTech tumbles into red in qtr., year
Feb 27, 2014 | 11:59 AM
| Jo Isenberg-O’Loughlin
NEW YORK GrafTech International Ltd. spilled red ink in the fourth quarter, due in large part to lower earnings from its Industrial Materials segment.
"We faced a number of challenges throughout 2013, primarily in a difficult market environment in our Industrial Materials segment," chief executive officer Joel Hawthorne said in a Feb. 27 statement on the companys earnings results.
GrafTechs Industrial Materials segment posted net sales of $236.1 million for the three months ended Dec. 31, down 23.9 percent from $310.1 million in the same period a year earlier. Parma, Ohio-based GrafTech said the reduction in sales and operating earnings by the segment were "largely due to lower graphite electrode and needle coke pricing."....
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