SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 27, 1998
THE CARBIDE/GRAPHITE GROUP, INC.
Delaware 0-20490 25-1575609
(State of Incorporation) (Commission File Number) (IRS Employer
Identification Code)
One Gateway Center, 19th Floor
Pittsburgh, PA
15222
(Address of principal executive offices)
Registrant's telephone number, including area code: (412) 562-3700
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Item 1 through Item 4: Not applicable.
Item 5 -- Other Events:
Legal Proceedings Update
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On July 27, 1998, the Company announced the following information with
respect to expected results for its fiscal fourth quarter ending July 31, 1998:
Pittsburgh, PA - July 27, 1998 - The Carbide/Graphite Group, Inc. (NASDAQ
NNM: CGGI) today announced that due primarily to lower than expected needle coke
sales, earnings will be approximately $0.50 to $0.55 per share in the fiscal
1998 fourth quarter ending July 31, 1998.
Walter B. Fowler, Chairman and Chief Executive Officer, commented, "We are
a global supplier of needle coke and the current weakness in demand for electric
arc furnace steel in Asia has translated into reduced demand for graphite
electrodes and needle coke. Although we expect to replace much of the needle
coke sales volume in the long term, the current weakness in demand for needle
coke is expected to persist for the next several quarters and is expected to
have a negative impact on our financial results." The Carbide/Graphite Group,
Inc. is a leading manufacturer of industrial graphite and calcium carbide
products with manufacturing facilities in St. Marys, Pennsylvania; Niagara
Falls, New York; Louisville and Calvert City, Kentucky; and Seadrift, Texas.
Note: This report may contain forward-looking statements that are based on
current expectations, estimates and projections about the industries in which
the Company operates, management's beliefs and assumptions made by management.
Words such as "expects," "anticipates," "intends," "plans," "believes,"
"estimates" and variations of such words and similar expressions are intended to
identify such forward-looking statements. These statements constitute
"forward-looking statements" within the meaning of Section 27A of the Securities
Act of 1933, and are subject to the safe harbor created thereby. These
statements are based on a number of assumptions that could ultimately prove
inaccurate and, therefore, there can be no assurance that such statements will
prove to be accurate. Factors that could affect actual future results include
the occurrence of unanticipated events or circumstances relating to
investigations by the Department of Justice, the antitrust enforcement
authorities of the European Union or related civil lawsuits as well as the
assertion of other claims relating to such investigations or lawsuits or the
subject matter thereof and the adequacy of the Company's previously announced
charge with respect to such matters. Such factors also include the possibility
that increased demand or prices for the Company's products may not occur or
continue, changing economic and competitive conditions (including currency
exchange rate fluctuations), technological risks and other risks, costs and
delays associated with the start-up and operation of major capital projects
(including the Company's modernization program), changing governmental
regulations (including environmental rules and regulations) and other risks and
uncertainties, including those detailed in the Company's filings with the
Securities and Exchange Commission. The Company does not undertake to publicly
update any forward-looking statement, whether as a result of new information,
future events or otherwise.
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Item 6 through Item 9: Not applicable.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the following hereunto duly authorized.
The Carbide/Graphite Group, Inc.
/s/ Walter B. Fowler
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Walter B. Fowler - Chief Executive Officer
Dated: July 29, 1998
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