PARMA, Ohio--(BUSINESS WIRE)--Dec. 19, 2011--
GrafTech International Ltd. (NYSE:GTI) today announced that it has
completed the repurchase of approximately two million shares of its
common stock since September 30, 2011. This concludes the previously
announced program to repurchase up to three million shares.
Subsequently, the Board of Directors approved a new share repurchase
program for up to ten million shares of its common stock.
“The new share repurchase program underscores our confidence in the
long-term value of our business model and provides us with additional
flexibility to enhance shareholder value,” said GrafTech Chief Executive
Officer, Craig Shular.
Under the approved share repurchase program, GrafTech may purchase
shares from time to time in the open market or through private
transactions as market conditions warrant. GrafTech has no obligation to
repurchase any amount of its common stock under the program.
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 over 65 countries engaged in the
manufacture of steel, automotive products and electronics. We
manufacture graphite electrodes, products essential to the production of
electric arc furnace steel and needle coke, the raw material essential
to the production of graphite electrodes. We also manufacture thermal
management, fuel cell and other specialty graphite and carbon products
for, and provide services to, the electronics, power generation, solar,
oil and gas, transportation, petrochemical and other metals markets. We
operate 19 principal manufacturing facilities strategically located on
four continents. For additional information on GrafTech International
Ltd., call 216-676-2000, or visit our website at www.graftech.com.
NOTE ON FORWARD-LOOKING STATEMENTS: This news release contains
forward-looking statements about our share repurchase program, ability
to generate cash flow, operating results, and shareholder value within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Our expectations and targets are
not predictions of actual performance and historically our performance
has deviated, often significantly, from our expectations and targets.
Actual future events, circumstances, performance and trends could differ
materially, positively or negatively, from those set forth in these
statements due to various factors, including: unforeseen delays, costs
or liabilities associated with our growth, integration and expansion
plans, changes in market prices of our securities, changes in business
and economic conditions and growth trends in the industry, changes in
customer markets and various geographic regions, uncertainties in the
geopolitical environment, and other risks and uncertainties, including
those detailed in our SEC filings, as well as future decisions by us.
Forward-looking statements speak only as of the date they are made, and
we undertake no obligation to publicly update or revise any of them in
light of new information, future events or otherwise. This news release
does not constitute an offer or solicitation as to any securities.
Source: GrafTech International Ltd.
GrafTech International Ltd.
Kelly Taylor, Director, Investor
Anita Fontana, Manager, Investor Relations