BROOKLYN HEIGHTS, Ohio--(BUSINESS WIRE)--GrafTech International Ltd. (NYSE: EAF) (GrafTech or the Company) has received two prestigious Awards for Steel Excellence from American Metal Market (AMM) for Best Innovation – Process as well as Raw Materials/Consumables Provider of the Year.
The AMM Awards for Steel Excellence recognize world-class innovation and excellence in steel and steel-related industries. Winners are selected by a panel of judges with extensive steel industry leadership experience.
“Our mission is to provide the best graphite electrodes along with world class services and solutions while maintaining a competitive cost structure,” said David Rintoul, President and CEO of GrafTech. “I am extremely proud of the more than thirteen hundred GrafTech employees working tirelessly to accomplish that mission every day.”
GrafTech has undergone an enormously successful multi-year transformation. The Company has achieved significant fixed manufacturing cost improvements. In 2018, GrafTech plans to produce more graphite electrodes from three facilities than was previously produced from six facilities.
The Company has also successfully implemented a commercial strategy to sell approximately two-thirds of its production capacity through three- to five-year fixed-volume, fixed-price take-or-pay contracts. These contracts provide reliability of long-term graphite electrode supply for customers and stability of future operating results for shareholders.
GrafTech International Ltd. is a leading manufacturer of high quality graphite electrode products essential to the production of electric arc furnace (or EAF) steel and other ferrous and non-ferrous metals. The Company has a competitive portfolio of low-cost graphite electrode manufacturing facilities, including three of the highest capacity facilities in the world. GrafTech is also the only large scale graphite electrode producer that is substantially vertically integrated into petroleum needle coke, the primary raw material for graphite electrode manufacturing, which is currently in limited supply. This unique position provides competitive advantages in product quality and cost. GrafTech is listed on the New York Stock Exchange under the ticker symbol “EAF.”
Cautionary Statement Regarding Forward-Looking Statements
Statements in this press release regarding the Company that are not historical facts are “forward-looking statements” that involve risks and uncertainties. The Company undertakes no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.