Manufacturing Industry
SGL Carbon Foresees Higher Earnings in 2004.
Advanced Materials & Composites News, January, 2004
January 15, 2004 - SGL Carbon AG of Wiesbaden, Germany, said it expects a significant earnings rise during 2004. Its shareholders met in an extraordinary session and approved a refinancing package totaling 830 million euros ($1.05 billion) to increase its capital base and reduce debt. Possible cost cuts saving up to 37 million euros are projected.
SGL said it is planning price increases in its graphite electrodes business. SGL makes the devices for steel makers and also produces carbon and composite materials for industrial and aerospace uses. SGL said it expects 2003 operating profit after restructuring costs to be higher than the previous year's profit of 29 million euros. SGL has accumulated debt from investments in its CFRP composites unit and is...
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