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News Breaks
May 14, 2014
09:17 EDTGTIGrafTech responds to 'misleading' claims by Milikowsky Group.
GrafTech International responded to the latest inaccurate and misleading claims outlined by the Daniel and Nathan Milikowsky Group. GrafTech says "On May 13, Nathan Milikowsky issued a press release in which he buried a corrective disclosure that he was asked to make by Royce & Associates in a letter to him dated April 24. GrafTech has had the opportunity to review a copy of the letter that Royce delivered to Mr. Milikowsky. GrafTech’s Board appreciates that Royce values integrity and candor in disclosures and took the initiative to seek corrective action by Mr. Milikowsky. GrafTech’s Board is not surprised that Mr. Milikowsky would wait until the eve of the Annual Meeting to make his 'corrective' disclosure, when he has been in possession of the letter from Royce for nearly three weeks. It is unfortunate that even Mr. Milikowsky’s 'corrective' disclosure did not provide all of the details outlined in the Royce letter. Mr. Milikowsky’s April 22, 2014 SEC filing and May 13, 2014 'corrective' SEC filing continue to misrepresent facts and mislead stockholders. The Board and management team have one goal – to execute our strategy to drive enhanced value for all stockholders. We are confident that we are well-positioned to do just that and we, and stockholders, cannot afford to be derailed. We urge stockholders to vote the WHITE proxy card today if they have not already voted. If stockholders have voted on the blue proxy card, we urge them to change their vote."
News For GTI From The Last 14 Days
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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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