GrafTech Acquires Fiber Materials Inc.

GrafTech International Ltd. (GTI) announced that it has completed the acquisition of the business and assets of Fiber Materials Inc. (FMI), a privately held manufacturer of highly engineered advanced carbon composite materials, for USD 14 million. Headquartered in Biddeford, Maine, 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 (Source: GTI, 11/2011).