GrafTech posts net loss in first quarter

Apr 25, 2014 | 06:54 PM | Jo Isenberg-O’Loughlin

Tags  steel, electric furnace, electrodes, graphite materials science, GrafTech International, quarterly earnings, Joel Hawthrone, rationalizations electrode prices

NEW YORK — A rationalization initiative calling for the closure of its two highest-cost graphite electrode production facilities, along with lower realized graphite electrode prices due to a global supply imbalance, combined to push GrafTech International Ltd. $11.52 million in the red in the first quarter.

Net sales by the Industrial Materials segment of the Parma, Ohio-based carbon graphite materials science company increased 4.8 percent to $218.78 million in the first quarter, driven by higher sales volumes of graphite electrodes and refractories but partially offset by lower realized graphite electrode prices. The segment posted an operating loss of....

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