TOKYO, Nov 8, 2017 - (JCN Newswire) - Showa Denko ("SDK"; TSE:4004) announces that, effective November 7, 2017, it completed the transfer of all shares in SGL GE Carbon Holding LLC to Tokai Carbon Co., Ltd. This announcement is a follow-up to our news release of September 28, 2017 entitled "SDK Obtains Competition Authorities' Approval for SGL GE Acquisition and Decides to Transfer U.S. Business to Tokai Carbon."
Under SDK's ongoing medium-term business plan "Project 2020+," the graphite electrode business is positioned as one of the basic businesses that generate stable profit and cash flow. Following the acquisition of SGL GE, SDK has become the leading supplier of graphite electrodes.
SDK will strive to speedily generate synergy with SHOWA DENKO CARBON Holding GmbH, which has been established as a result of the integration with SGL GE. SDK will aim to achieve further growth in a highly competitive market by strengthening the business in terms of both profitability and stability.
About Showa Denko K.K.
Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY), a major manufacturer of chemical products, serves a wide range of fields from heavy industry to electronics and computer industries. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, and the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory and graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high-bright LEDs and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.
Public Relations Office
Nov 8, 2017 08:00 HKT/SGT
Source: Showa Denko K.K.
Showa Denko K.K. (TSE: 4004)
Topic: Press release summary
Sectors: Electronics, Chemicals
From the Asia Corporate News Network
Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.