SGL Carbon to close Canadian graphite facility in Lachute

Fri Oct 18, 2013 5:54pm EDT
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FRANKFURT (Reuters) - SGL Group (SGCG.DE: Quote) said it will close its Canadian graphite electrode facility in Lachute, Quebec by the first quarter of 2014.

About 110 employees will be affected by the closure, it said.

The facility produces graphite electrodes, whose world market has faced sluggish global demand for almost five years.

SGL said the closure was part of a package of measures to achieve cost savings of around 150 million euros ($205 million)by the end of 2015, based on the actual costs for 2012. ($1 = 0.7302 euros)

(Reporting by Edward Taylor; Editing by Anthony Barker)