By Josh Beckerman
GrafTech International Ltd., a maker of carbon and graphite
products, said operating cash flow will likely be at the low end of
its guidance for the first half of the year, due to factors
including weak demand in the energy sector.
The company said electric arc furnace steel production in its
North American and European markets has been hurt by high steel
import levels.
In a deal announced in May, a Brookfield Asset Management Inc.
affiliate agreed to acquire GrafTech in a deal that values the
company at an estimated $692.8 million.
GrafTech previously lowered its guidance for earnings before
interest, taxes, depreciation and amortization and operating cash
flow.
In April, the company said it expected $30 million to $40
million for each metric in the first half of the year. GrafTech
said Monday that results may be slightly below the targeted
ranges.
GrafTech has been pursuing cost-cutting plans including layoffs,
exiting some product lines and moving to a smaller
headquarters.
Write to Josh Beckerman at josh.beckerman@wsj.com
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