Showa Denko Obtains Competition Authorities’ Approval for SGL GE Acquisition and Decides to Transfer U.S. Business to Tokai Carbon

October 02 2017

Showa Denko (SDK) has obtained approval from all required competition authorities, including Germany and the United States, for its acquisition of SGL GE Holding GmbH (SGL GE) effective September 27, 2017 (US time). The transaction was announced earlier in news release of October 20, 2016.

The U.S. competition authorities approved the acquisition on condition that SGL GE’s graphite electrode business in the U.S. is sold, and SDK decided at its board meeting to transfer that business to Tokai Carbon Co., Ltd., which the U.S. competition authorities have approved as the purchaser, after the closing.

SDK expects to acquire all shares in SGL GE on October 2, 2017. Soon after the acquisition, SDK will conclude an agreement with Tokai Carbon concerning the transfer of SGL GE’s U.S. business. The business transfer will be completed in early November 2017.

By making SGL GE a subsidiary, SDK will obtain graphite electrode production bases in Europe and Southeast Asia, in addition to the existing bases in Japan, USA and China.

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