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April 13, 2014
15:32 EDTGTI'Save GrafTech' responds to settlement proposal rejection by Graftech
Nathan Milikowsky, a former GrafTech International director and a holder of over 15M GrafTech shares, or over 11.2%, of the common stock, sent a letter to GrafTech in response to the company’s rejection of Save GrafTech’s latest settlement proposal. Save GrafTech has nominated five directors for election to the board of directors of GrafTech at the company’s annual meeting of stockholders on May 15. The letter said in part: "On April 11, Save GrafTech proposed a settlement offer for minority representation on a newly reconstituted 10-member Board...Save GrafTech also proposed a solution to address any concerns the company might have about my suitability to rejoin the board...Having served on the Board with your current directors, I was not surprised that GrafTech rejected this eminently reasonable offer and responded in less than eight hours with an unacceptable counter-proposal. However, I was surprised that this rejection clearly betrays the board’s lack of confidence in the “findings" of its own Special Committee investigation, which was the pretext for excluding me from continuing to serve as a director in 2013...It is unfortunate that our settlement discussions have been scuttled by GrafTech’s inability to accept an exceptionally reasonable offer, which included minority representation for the Save GrafTech slate as well as a significant two-year standstill provision...I look forward to providing shareholders with a platform for truly meaningful change at the 2014 Annual Meeting. "
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July 29, 2015
07:55 EDTGTIGrafTech does not see significant improvement in results in 2H15
Market conditions remain challenging in both the Industrial Materials segment and Engineered Solutions segment. Pricing in the Industrial Materials segment will be lower year-over-year, while volumes in this segment remain under pressure due to weak electric arc furnace steel production in response to continued end market weakness and temporary displacement by high Chinese steel export levels. In the Engineered Solution segment, weak advanced consumer electronics and oil and gas market demand for our products is negatively impacting volumes and pricing. While the previously announced cost initiatives are on track to deliver $50 million in cash savings in 2015, these savings will not fully offset the decline in pricing and volume across both business segments. In light of these market conditions, the Company will reduce production rates further to align with current market demand. Based on these conditions, the Company does not expect a significant improvement in results in the second half of 2015.
07:55 EDTGTIGrafTech says on track to deliver approx. $50M in cash savings in 2015
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07:54 EDTGTIGrafTech reports Q2 adjusted EPS (12c), consensus (10c)
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