GrafTech International Ltd. 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 $14 million.

Craig Shular, Chairman and Chief Executive Officer of GrafTech, commented, “We are pleased to announce the acquisition of FMI and to welcome such an excellent team to the GrafTech family. FMI adds significant technology in advanced carbon composites to our product portfolio and will aid in propelling continued growth in our Engineered Solutions segment.”

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.

GrafTech International Ltd. is one of the world’s largest manufacturers and providers of high quality synthetic and natural graphite and carbon based products and technical and research and development services, with customers in over 65 countries engaged in the manufacture of steel, automotive products and electronics. We manufacture graphite electrodes, products essential to the production of electric arc furnace steel and needle coke, the raw material essential to the production of graphite electrodes. We also manufacture thermal management, fuel cell and other specialty graphite and carbon products for, and provide services to, the electronics, power generation, solar, oil and gas, transportation, petrochemical and other metals markets. We operate 19 principal manufacturing facilities strategically located on four continents.