GrafTech acquires Fiber Materials Inc.

GrafTech pays $14 million for carbon fiber composite firm Fiber Materials Inc.

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GrafTech International Ltd. (Parma, Ohio, USA) on Oct. 31 announced that it has completed the acquisition of the business and assets of Fiber Materials Inc. (FMI, Biddeford, Maine), a privately held manufacturer of highly engineered advanced carbon composite materials, for $14 million.

Craig Shular, chairman and chief executive officer of GrafTech, commented, “We are pleased to announce the acquisition of FMI and to welcome such an excellent team to the GrafTech family. FMI adds significant technology in advanced carbon composites to our product portfolio and will aid in propelling continued growth in our Engineered Solutions segment.”

FMI manufactures highly engineered advanced carbon composites serving the aerospace and defense industries, and high-temperature insulation for use in industrial applications. FMI will become part of GrafTech’s Engineered Solutions business segment and employs approximately 160 people. The acquisition of FMI is a cash purchase.

GrafTech International Ltd. is a manufacturer and provider of high-quality synthetic and natural graphite- and carbon-based products and technical and research and development services.