Exhibit 99.1
1521 Concord Pike, Brandywine West, Suite 301 |
N E W S R E L E A S E
CONTACT: Elise A. Garofalo
Director of Investor Relations
302-778-8227
GrafTech Announces Global Graphite Electrode Price Increase
Wilmington, DE – September 15, 2004 – GrafTech International Ltd. (NYSE:GTI) today announced it is increasing prices for standard size graphite electrodes used in large electric arc steel melting furnaces, effective with new orders accepted as of October 1, 2004, as follows: to $3,150 per metric ton in North and South America, CIS, the Middle East, Africa and Asia and to Euro 2,550 per metric ton in Europe.
The price increase is due to continued upward pressure on energy and other raw material costs, strength in steel production and the tight supply/demand balance in the graphite electrode industry.
The above prices will not be applicable to non ultra high power graphite electrodes used in ladle furnaces or non-ferrous applications, which represent about 25%-30% of the graphite electrode industry demand. This price increase will not materially impact 2004 results.
GrafTech International Ltd. is one of the world’s largest manufacturers and providers of high quality synthetic and natural graphite and carbon based products and technical and research and development services, with customers in about 60 countries engaged in the manufacture of steel, aluminum, silicon metal, automotive products and electronics. We manufacture graphite electrodes and cathodes, products essential to the production of electric arc furnace steel and aluminum. We also manufacture thermal management, fuel cell and other specialty graphite and carbon products for, and provide services to, the electronics, power generation, semiconductor, transportation, petrochemical and other metals markets. We are the leading manufacturer in all of our major product lines, with 13 state of the art manufacturing facilities strategically located on four continents. GRAFCELL®, GRAFOIL®, and eGRAF®are our registered trademarks. For additional information on GrafTech International, call 302-778-8227 or visit our website at www.graftech.com. For additional information on our subsidiary, Advanced Energy Technology Inc., call 216-529-3777.
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