GrafTech jumps on restart of Mexico facility operations

GrafTech International

18/11/2022 22:59

** Shares of graphite electrodes maker GrafTech
International  EAF.N  up ~13% at $4.76 in after-hours trade
    ** Co announces conditional lifting of temporary suspension
notice related to EAF's operations in Monterrey, Mexico,
allowing it to resume operations effective immediately
    ** On Thursday, State Attorney's Office for the Secretary of
Environment of the State of Nuevo León, Mexico lifted suspension
notice, subject to completion of agreed-upon activities,
including submission of environmental impact study with respect
to facility's operations - EAF
    ** The temporary suspension notice had been issued on Sept
15 by the State Attorney
    ** For Q4, co anticipates temporary suspension will impact
its ability to fulfill about 10 thousand-12 thousand metric tons
of customer orders, consistent with previous outlook
    ** Co's facility at Monterrey has 550 employees and
represents about 30% of its total annual production capacity,
excluding facility in St. Marys, Pennsylvania
    ** Up to Friday's close, stock had fallen 64.3% this year 
 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com;))