The US-based Association for Iron & Steel Technology has announced that Japanese graphite electrode manufacturer Tokai Carbon Co. Ltd has acquired Germany-based SGL Carbon’s US graphite electrode business for about $114.4 million, giving the Japanese manufacturer a production presence in North America.
According to the AIST, with the acquisition of SGL Carbon’s US graphite electrode business, Tokai is gaining 30,000 mt of annual production capacity through two manufacturing sites in Kentucky and Arkansas.
Tokai stated that the acquisition will enable it to increase its presence in the world’s largest electric arc furnace market and to build a solid business base as a global competitor, supported by a tri-regional structure consisting of bases in Asia, Europe, and North America.