Fiber Materials joins Ohio-based GrafTech
By Kathy McCarty
Staff Writer
PRESQUE ISLE — GrafTech, a publicly-traded company headquartered in Parma, Ohio, a business specializing in graphite material science technology, manufacturing synthetic and natural graphite-based products, has acquired Fiber Materials, Inc. (FMI), located in Presque Isle, to be a part of its global team.
Headquartered in Biddeford, FMI manufactures highly-engineered advanced carbon composites serving the aerospace and defense industries, and high-temperature insulation for use in industrial applications. FMI employs approximately 160 people and will become part of GrafTech’s Engineered Solutions business segment.
“FMI adds significant technology in advanced carbon composites to our product portfolio and will aid in propelling continued growth in our Engineered Solutions segment,” said Craig Shular, GrafTech chairman and CEO. “We are also pleased to welcome such an excellent team and look forward to learning more about them and their local communities.”
Larry Clark, executive director of the Presque Isle Industrial Council, said FMI had been for sale for about two years.
“I was notified by their attorney a couple weeks ago advising the sale would be complete by mid-November. GrafTech and FMI people met with Jim Bennett (city manager) and I earlier this month to discuss the future of the Presque Isle facility,” said Clark.
Clark said the meeting was positive.
“The meeting was very encouraging. They want to stay here and are looking for ways to better utilize the facility for production and marketing. It was a very good meeting,” he said, noting this made the “fourth acquisition this year of major companies” by GrafTech.
“One thing he (Spencer Tolis, president, Fiber Materials) made clear — every location expanded employees and growth of facility. We’re very optimistic for the future of the company,” said Clark.
GrafTech’s work with composite materials will allow the Presque Isle facility to reach out to a broader market.
“This will make FMI an international company as well. What is being done in Presque Isle — it’s the only place being done. They’re a Kevlar producer, make insulating materials for furnaces. GrafTech officials indicated they were very excited to have bought the company and products they produce,” said Clark.
With this transaction, GrafTech now has more than 3,200 employees worldwide.
“We look forward to working together to best serve our customers,” said Tolis. “We have a long-term partner in GrafTech, a company that is committed to investing in our facilities and our team members.”
GrafTech International is a global company with 125 years experience in the graphite industry, offering innovative solutions for the most challenging applications. Its customers are located in over 65 countries and represent a wide range of industries and end markets, including steel manufacturing, alternative energy and advanced electronics. With this transaction, GrafTech now operates 19 principal manufacturing facilities on four continents. For more information on GrafTech International, visit www.graftech.com.
