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<item><title>SGL Carbon AG acquires Abeking &amp; Rasmussen Rotec GmbH</title><description>GERMANY - SGL Carbon AG acquired a ##% interest in Abeking &amp; Rasmussen Rotec GmbH &amp; Co KG, a Lemwerder-based manufacturer of rotor blades. The transaction was subject to antitrust authorities. Terms were not disclosed.</description><pubDate>8/12/2008 2:43:33 PM</pubDate><sdc:company_cusip xmlns:sdc="http://www.alacra.com/sdc">784188</sdc:company_cusip><sdc:target_company_cusip xmlns:sdc="http://www.alacra.com/sdc">07862P</sdc:target_company_cusip><sdc:company_cusip_up xmlns:sdc="http://www.alacra.com/sdc">784188</sdc:company_cusip_up><sdc:target_company_cusip_up xmlns:sdc="http://www.alacra.com/sdc">07862P</sdc:target_company_cusip_up><sdc:company xmlns:sdc="http://www.alacra.com/sdc">SGL Carbon AG</sdc:company><sdc:target_company xmlns:sdc="http://www.alacra.com/sdc">Abeking &amp; Rasmussen Rotec GmbH &amp; Co KG</sdc:target_company><sdc:company_up xmlns:sdc="http://www.alacra.com/sdc">SGL Carbon AG</sdc:company_up><sdc:target_company_up xmlns:sdc="http://www.alacra.com/sdc">Abeking &amp; Rasmussen Rotec GmbH &amp; Co KG</sdc:target_company_up><link>http://www.alacrastore.com/storecontent/Thomson_M%26A/SGL_Carbon_AG_acquires_Abeking_Rasmussen_Rotec_GmbH-2003447040</link><guid isPermaLink="false">sdc/2003447040</guid><sdc:deal xmlns:sdc="http://www.alacra.com/sdc"><sdc:deal_no>2003447040</sdc:deal_no><sdc:_copyright><sdc:value>Copyright Â© 2008, Thomson Financial, All Rights Reserved</sdc:value></sdc:_copyright><sdc:a_EXCHANGE><sdc:value>Frankfurt</sdc:value></sdc:a_EXCHANGE><sdc:a_MAINDUSTRY><sdc:value>Electronic and Electrical Equipment</sdc:value></sdc:a_MAINDUSTRY><sdc:a_NATION><sdc:value>Germany</sdc:value></sdc:a_NATION><sdc:a_SICDESC><sdc:value>Carbon and graphite 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sets</sdc:value></sdc:b_SICDESC><sdc:b_SICPI><sdc:value>3511</sdc:value></sdc:b_SICPI><sdc:b_STATE><sdc:value>FF</sdc:value></sdc:b_STATE><sdc:b_STATELONG><sdc:value>Foreign</sdc:value></sdc:b_STATELONG><sdc:b_STATUS><sdc:value>Private</sdc:value></sdc:b_STATUS><sdc:c_ACIDGEN><sdc:value>289978007</sdc:value></sdc:c_ACIDGEN><sdc:c2up_BUSS><sdc:value>Mnfr carbon,graphite prod</sdc:value></sdc:c2up_BUSS><sdc:c3up_BUSS><sdc:value>Mnfr rotor blades</sdc:value></sdc:c3up_BUSS><sdc:co_DESCR><sdc:value>Unspecified</sdc:value></sdc:co_DESCR><sdc:cs_DESCR><sdc:value>Stock</sdc:value></sdc:cs_DESCR><sdc:d_TCIDGEN><sdc:value>1033916001</sdc:value></sdc:d_TCIDGEN><sdc:date_lastupdate><sdc:value>Aug 12 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sdc:p="0">1.00000</sdc:value><sdc:value sdc:p="1">2.00000</sdc:value><sdc:value sdc:p="2">3.00000</sdc:value><sdc:value sdc:p="3">4.00000</sdc:value><sdc:value sdc:p="4">5.00000</sdc:value><sdc:value sdc:p="5">6.00000</sdc:value><sdc:value sdc:p="6">7.00000</sdc:value><sdc:value sdc:p="7">8.00000</sdc:value><sdc:value sdc:p="8">9.00000</sdc:value><sdc:value sdc:p="9">10.00000</sdc:value><sdc:value sdc:p="10">11.00000</sdc:value><sdc:value sdc:p="11">12.00000</sdc:value><sdc:value sdc:p="12">13.00000</sdc:value><sdc:value sdc:p="13">14.00000</sdc:value><sdc:value sdc:p="14">15.00000</sdc:value><sdc:value sdc:p="15">16.00000</sdc:value><sdc:value sdc:p="16">17.00000</sdc:value><sdc:value sdc:p="17">18.00000</sdc:value><sdc:value sdc:p="18">19.00000</sdc:value><sdc:value sdc:p="19">20.00000</sdc:value><sdc:value sdc:p="20">21.00000</sdc:value><sdc:value sdc:p="21">22.00000</sdc:value></sdc:g_SEQ><sdc:g_TEST><sdc:value sdc:p="0">SGL Carbon AG, located in</sdc:value><sdc:value sdc:p="1">Wiesbaden, Germany</sdc:value><sdc:value sdc:p="2">manufactures carbon, graphite</sdc:value><sdc:value sdc:p="3">and composite products for</sdc:value><sdc:value sdc:p="4">industrial, glass, ceramics,</sdc:value><sdc:value sdc:p="5">semiconductor, electronics,</sdc:value><sdc:value sdc:p="6">chemical, energy and aerospace</sdc:value><sdc:value sdc:p="7">applications the products</sdc:value><sdc:value sdc:p="8">include graphite and carbon</sdc:value><sdc:value sdc:p="9">electrode, cathodes and</sdc:value><sdc:value sdc:p="10">furnace linings, graphite</sdc:value><sdc:value sdc:p="11">specialties, expanded</sdc:value><sdc:value sdc:p="12">graphite, carbon fibers, brake</sdc:value><sdc:value sdc:p="13">disks and start up products</sdc:value><sdc:value sdc:p="14">The company has three</sdc:value><sdc:value sdc:p="15">divisions namely, Carbon,</sdc:value><sdc:value sdc:p="16">Graphite, Graphite</sdc:value><sdc:value sdc:p="17">Specialties, and SGL</sdc:value><sdc:value sdc:p="18">technologies, with operations</sdc:value><sdc:value sdc:p="19">in Europe, North, Central and</sdc:value><sdc:value sdc:p="20">South America. The company was</sdc:value><sdc:value sdc:p="21">founded in 1872.</sdc:value></sdc:g_TEST><sdc:g_business><sdc:value sdc:p="0">SGL Carbon AG, located in Wiesbaden, Germany manufactures</sdc:value><sdc:value sdc:p="1">carbon, graphite and composite products for industrial,</sdc:value><sdc:value sdc:p="2">glass, ceramics, semiconductor, electronics, chemical,</sdc:value><sdc:value sdc:p="3">energy and aerospace applications the products include</sdc:value><sdc:value sdc:p="4">graphite and carbon electrode, cathodes and furnace linings,</sdc:value><sdc:value sdc:p="5">graphite specialties, expanded graphite, carbon fibers,</sdc:value><sdc:value sdc:p="6">brake disks and start up products The company has three</sdc:value><sdc:value sdc:p="7">divisions namely, Carbon, Graphite, Graphite Specialties,</sdc:value><sdc:value sdc:p="8">and SGL technologies, with operations in Europe, North,</sdc:value><sdc:value sdc:p="9">Central and South America. The company was founded in 1872.</sdc:value></sdc:g_business><sdc:g_business1><sdc:value>SGL Carbon AG, located in Wiesbaden, Germany manufactures carbon, graphite and composite products for industrial, glass, ceramics, semiconductor, electronics, chemical, energy and aerospace applications the products include graphite and carbon electrode, cathodes and furnace linings, graphite specialties, expanded graphite, carbon fibers, brake disks and start up products The company has three divisions namely, Carbon, Graphite, Graphite Specialties, and SGL technologies, with operations in Europe, North, Central and South America. The company was founded in 1872.</sdc:value></sdc:g_business1><sdc:h_SEQ><sdc:value sdc:p="0">1.00000</sdc:value><sdc:value sdc:p="1">2.00000</sdc:value><sdc:value sdc:p="2">3.00000</sdc:value><sdc:value sdc:p="3">4.00000</sdc:value><sdc:value sdc:p="4">5.00000</sdc:value></sdc:h_SEQ><sdc:h_TEST><sdc:value sdc:p="0">beking &amp; Rasmussen Rotec GmbH</sdc:value><sdc:value sdc:p="1">&amp; Co KG, located in Lemwerder,</sdc:value><sdc:value sdc:p="2">Germany manufactures rotor</sdc:value><sdc:value sdc:p="3">blades for wind turbines. The</sdc:value><sdc:value sdc:p="4">company was founded in 1926.</sdc:value></sdc:h_TEST><sdc:h_business><sdc:value sdc:p="0">beking &amp; Rasmussen Rotec GmbH &amp; Co KG, located in Lemwerder,</sdc:value><sdc:value sdc:p="1">Germany manufactures rotor blades for wind turbines. The</sdc:value><sdc:value sdc:p="2">company was founded in 1926.</sdc:value></sdc:h_business><sdc:h_business1><sdc:value>beking &amp; Rasmussen Rotec GmbH &amp; Co KG, located in Lemwerder, Germany manufactures rotor blades for wind turbines. 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Terms</sdc:value><sdc:value sdc:p="7">were not disclosed.</sdc:value></sdc:n_SYNOPSIS><sdc:n_synopsis2><sdc:value>GERMANY - SGL Carbon AG acquired a 51% interest in Abeking &amp; Rasmussen Rotec GmbH &amp; Co KG, a Lemwerder-based manufacturer of rotor blades. The transaction was subject to antitrust authorities. Terms were not disclosed.</sdc:value></sdc:n_synopsis2><sdc:n_synopsis3><sdc:value sdc:p="0">GERMANY - SGL Carbon AG acquired a 51% interest in Abeking &amp; Rasmussen Rotec GmbH &amp; Co KG,</sdc:value><sdc:value sdc:p="1">a Lemwerder-based manufacturer of rotor blades. The transaction was subject to antitrust</sdc:value><sdc:value sdc:p="2">authorities. Terms were not disclosed.</sdc:value></sdc:n_synopsis3><sdc:n_synopsis4><sdc:value sdc:p="0">GERMANY - SGL Carbon AG acquired a 51% interest in Abeking &amp; Rasmussen Rotec GmbH &amp; Co KG, a Lemwerder-based manufacturer of rotor blades. The transaction was subject to antitrust authorities. Terms</sdc:value><sdc:value sdc:p="1">were not disclosed.</sdc:value></sdc:n_synopsis4><sdc:n_synopsis5><sdc:value sdc:p="0">GERMANY - SGL Carbon AG acquired a 51% interest in Abeking &amp; Rasmussen Rotec GmbH &amp; Co KG, a Lemwerder-based manufacturer of rotor</sdc:value><sdc:value sdc:p="1">blades. The transaction was subject to antitrust authorities. Terms were not 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sdc:p="0">3511:Turbines and turbine generator sets</sdc:value><sdc:value sdc:p="1">3621:Motors and generators</sdc:value></sdc:sic_SIC><sdc:upa_UPACIDGEN><sdc:value>289978007</sdc:value></sdc:upa_UPACIDGEN><sdc:upa1_EXCHANGE><sdc:value>Frankfurt</sdc:value></sdc:upa1_EXCHANGE><sdc:upa1_NATION><sdc:value>Germany</sdc:value></sdc:upa1_NATION><sdc:upa1_SICP><sdc:value>3624</sdc:value></sdc:upa1_SICP><sdc:upa1_STATE><sdc:value>Foreign</sdc:value></sdc:upa1_STATE><sdc:upa1_STATUS><sdc:value>Public</sdc:value></sdc:upa1_STATUS><sdc:upa1_TICKER><sdc:value>SGL</sdc:value></sdc:upa1_TICKER><sdc:upsic_SIC><sdc:value sdc:p="0">3511:Turbines and turbine generator sets</sdc:value><sdc:value sdc:p="1">3621:Motors and generators</sdc:value></sdc:upsic_SIC><sdc:upt_UPTCIDGEN><sdc:value>1033916001</sdc:value></sdc:upt_UPTCIDGEN><sdc:upt1_NATION><sdc:value>Germany</sdc:value></sdc:upt1_NATION><sdc:upt1_SICP><sdc:value>3511</sdc:value></sdc:upt1_SICP><sdc:upt1_STATE><sdc:value>Foreign</sdc:value></sdc:upt1_STATE><sdc:upt1_STATUS><sdc:value>Private</sdc:value></sdc:upt1_STATUS><sdc:x_RANK1_VALUE><sdc:value>0.00000</sdc:value></sdc:x_RANK1_VALUE><sdc:x_RANK_HOSTRANKVAL><sdc:value>0.00000</sdc:value></sdc:x_RANK_HOSTRANKVAL><sdc:x_RANK_RANKVAL><sdc:value>0.00000</sdc:value></sdc:x_RANK_RANKVAL><sdc:x_rank_rankstgval><sdc:value>0.00000</sdc:value></sdc:x_rank_rankstgval></sdc:deal><category>Deal Information</category><alacra:ip>TF Mergers &amp; Acquisitions</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/663611</link><guid isPermaLink="false">spcred/663611</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest Summary from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><pubDate>8/6/2008 10:30:57 AM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><title>Summary: SGL Carbon AG</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">663611</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Germany</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Electrical Components &amp; Equipment</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Europe, Middle East, Africa</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">The ratings on Germany-based graphite electrode producer SGL Carbon AG are constrained by its exposure to the cyclical steel industry; and ongoing rising raw materials and energy costs from a concentrated supplier base, notably needle coke. Furthermore, SGL is expanding into high technology industries and as the company pursues its growth strategy it faces rising capital expenditures and working capital needs, which are consuming cash flows. The ratings are supported by healthy market conditions; strong market positions, especially in graphite electrodes; improving profitability, owing to higher prices and cost savings; and healthy liquidity for the ratings. SGL's financial policy is geared toward growth, evident in medium-term targets of annual revenues of about Â€2.0 billion-Â€2.1 billion by 2012, more than 50%</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">DEU</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">784188</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">20104010 201040 2010 20</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">SGL Carbon AG</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">307384</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EUROMIDAFR</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">SGL@GR</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">SUMMARY</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/PR_156975_600048564</link><guid isPermaLink="false">moodys/PR_156975_600048564</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><description>Global Credit Research Rating Action # JUN ####   Rating Action: SGL Carbon AG Moody's affirms SGL Carbon's Corporate Family Rating at Ba#. The outlook is changed to positive EUR ### million of Rated Outstanding Debt Securities affected...</description><pubDate>6/10/2008 12:42:12 AM</pubDate><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">SGL Carbon AG</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">SGL Carbon AG</moodys:issuer_list><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600048564</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Rating Action</moodys:report_type><title>Moody's affirms SGL Carbon's Corporate Family Rating at Ba2. The outlook is changed to positive</title><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">PR_156975_600048564</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/649510</link><guid isPermaLink="false">spcred/649510</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest Summary from S&amp;P</description><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><pubDate>5/21/2008 8:20:30 AM</pubDate><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><title>Summary: SGL Carbon AG</title><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:type><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">649510</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Germany</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Electrical Components &amp; Equipment</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Europe, Middle East, Africa</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">The ratings on Germany-based graphite electrode producer SGL Carbon AG are constrained by its exposure to the cyclical steel industry; and ongoing rising raw materials and energy costs from a concentrated supplier base, notably needle coke. Furthermore, SGL is expanding into high technology industries and as the company pursues its growth strategy it faces rising capital expenditures and working capital needs, which are consuming cash flows. The ratings are supported by healthy market conditions; strong market positions, especially in graphite electrodes; improving profitability, owing to higher prices and cost savings; and healthy liquidity for the ratings. SGL's financial policy is geared toward growth, evident in medium-term targets of annual revenues of about Â€2.0 billion-Â€2.1 billion by 2012, more than 50%</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">DEU</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">784188</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">20104010 201040 2010 20</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">SGL Carbon AG</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">307384</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EUROMIDAFR</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">SGL@GR</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">SUMMARY</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/bir/910653</link><guid isPermaLink="false">bir/910653</guid><bir:index_mode xmlns:bir="http://www.alacra.com/bir">norm</bir:index_mode><title>SGL Carbon AG</title><bir:company xmlns:bir="http://www.alacra.com/bir">SGL Carbon AG</bir:company><bir:cou xmlns:bir="http://www.alacra.com/bir">Germany</bir:cou><bir:descr xmlns:bir="http://www.alacra.com/bir">Manufacturing: Graphite, carbon electrodes, and anodes.</bir:descr><bir:sic xmlns:bir="http://www.alacra.com/bir">3629</bir:sic><bir:naics xmlns:bir="http://www.alacra.com/bir">335999</bir:naics><bir:class xmlns:bir="http://www.alacra.com/bir">9</bir:class><bir:size xmlns:bir="http://www.alacra.com/bir">H</bir:size><bir:revenue xmlns:bir="http://www.alacra.com/bir">K</bir:revenue><bir:ticker xmlns:bir="http://www.alacra.com/bir">SGL</bir:ticker><pubDate>5/21/2008 6:25:16 AM</pubDate><bir:docid xmlns:bir="http://www.alacra.com/bir">910653</bir:docid><category>Company Profiles &amp; Financials</category><alacra:ip>Gale Company Profiles</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/640568</link><guid isPermaLink="false">spcred/640568</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest Full Report from S&amp;P</description><title>SGL Carbon AG</title><pubDate>4/2/2008 11:02:50 AM</pubDate><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Full Report</spcred:type><spcred:price xmlns:spcred="http://www.alacra.com/spcred">400</spcred:price><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">640568</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Germany</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Electrical Components &amp; Equipment</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Europe, Middle East, Africa</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Full Report</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">Strong market positions, notably in graphite electrodes Improving profitability, owing to higher prices and cost savings Strengthening operating cash flows, and healthy liquidity Growth strategy mostly financed by cash flow Exposure to cyclical steel industry Ongoing rising raw materials and energy costs Concentrated needle coke supplier base Rising capital expenditures and higher working capital needs The ratings on Germany-based graphite electrode producer SGL Carbon AG are constrained by its exposure to the cyclical steel industry; and ongoing rising raw materials and energy costs from a concentrated supplier base, notably needle coke. Furthermore, SGL is expanding into high technology industries and as the company pursues its growth strategy it faces rising capital expenditures and working capital needs, which are consuming cash</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">DEU</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">784188</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">20104010 201040 2010 20</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">SGL Carbon AG</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">307384</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EUROMIDAFR</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">SGL@GR</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">FULL</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/640569</link><guid isPermaLink="false">spcred/640569</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><description>The latest Summary from S&amp;P</description><title>Summary: SGL Carbon AG</title><pubDate>4/2/2008 11:02:50 AM</pubDate><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:type><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">640569</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Germany</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Electrical Components &amp; Equipment</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Europe, Middle East, Africa</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">The ratings on Germany-based graphite electrode producer SGL Carbon AG are constrained by its exposure to the cyclical steel industry; and ongoing rising raw materials and energy costs from a concentrated supplier base, notably needle coke. Furthermore, SGL is expanding into high technology industries and as the company pursues its growth strategy it faces rising capital expenditures and working capital needs, which are consuming cash flows. The ratings are supported by healthy market conditions; strong market positions, especially in graphite electrodes; improving profitability, owing to higher prices and cost savings; and healthy liquidity for the ratings. SGL's financial policy is geared toward growth, evident in medium-term targets of annual revenues of about Â€2 billion-Â€2.1 billion by 2012, more than 50%</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">DEU</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">784188</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">20104010 201040 2010 20</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">SGL Carbon AG</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">307384</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EUROMIDAFR</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">SGL@GR</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">SUMMARY</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/COP_600048564</link><guid isPermaLink="false">moodys/COP_600048564</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><description>Global Credit Research Credit Opinion ## JUN ####   Credit Opinion: SGL Carbon AG SGL Carbon AG Wiesbaden, Germany Ratings Category Moody's Rating Outlook Positive Corporate Family Rating -Dom Curr Ba# Senior Unsecured -Dom Curr Ba#/LGD#...</description><pubDate>1/3/2008 8:05:00 PM</pubDate><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">SGL Carbon AG</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">SGL Carbon AG</moodys:issuer_list><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">600048564</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Credit Opinion</moodys:report_type><title>SGL Carbon AG</title><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">COP_600048564</moodys:docid><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/spcred/610903</link><guid isPermaLink="false">spcred/610903</guid><spcred:index_mode xmlns:spcred="http://www.alacra.com/spcred">norm</spcred:index_mode><title>Summary: SGL Carbon AG</title><description>The latest Summary from S&amp;P</description><pubDate>11/2/2007 1:50:37 PM</pubDate><spcred:type xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:type><spcred:price xmlns:spcred="http://www.alacra.com/spcred">175</spcred:price><spcred:dataset xmlns:spcred="http://www.alacra.com/spcred">global</spcred:dataset><spcred:docid xmlns:spcred="http://www.alacra.com/spcred">610903</spcred:docid><spcred:index_entry_dispcountry xmlns:spcred="http://www.alacra.com/spcred">Germany</spcred:index_entry_dispcountry><spcred:index_entry_dispgics xmlns:spcred="http://www.alacra.com/spcred">Electrical Components &amp; Equipment</spcred:index_entry_dispgics><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">Europe, Middle East, Africa</spcred:index_entry_dispregion><spcred:index_entry_dispregion xmlns:spcred="http://www.alacra.com/spcred">United States</spcred:index_entry_dispregion><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Global Issuers</spcred:index_entry_dispsector><spcred:index_entry_dispsector xmlns:spcred="http://www.alacra.com/spcred">Corporations</spcred:index_entry_dispsector><spcred:index_entry_disptype xmlns:spcred="http://www.alacra.com/spcred">Summary</spcred:index_entry_disptype><spcred:index_entry_excerpt xmlns:spcred="http://www.alacra.com/spcred">The ratings on Germany-based graphite electrode producer SGL Carbon AG are constrained by its exposure to the cyclical steel industry, although this is moderating, and ongoing high raw materials and energy costs from a concentrated supplier base. Furthermore, SGL is expanding into high tech industries and faces rising capital expenditures and working capital needs as the group pursues its growth strategy, which are consuming cash flows. The ratings are supported by healthy market conditions; strong market positions, especially in graphite electrodes; and improving profitability, owing to higher prices and cost savings; and healthy liquidity for the ratings. SGL continues to experience healthy operating performance underpinned by robust demand. In the nine months to Sept. 30, 2007, higher profitability increased reported</spcred:index_entry_excerpt><spcred:index_entry_primcountry xmlns:spcred="http://www.alacra.com/spcred">DEU</spcred:index_entry_primcountry><spcred:index_entry_primcusip xmlns:spcred="http://www.alacra.com/spcred">784188</spcred:index_entry_primcusip><spcred:index_entry_primgics xmlns:spcred="http://www.alacra.com/spcred">20104010 201040 2010 20</spcred:index_entry_primgics><spcred:index_entry_primissuer xmlns:spcred="http://www.alacra.com/spcred">SGL Carbon AG</spcred:index_entry_primissuer><spcred:index_entry_primissuerid xmlns:spcred="http://www.alacra.com/spcred">307384</spcred:index_entry_primissuerid><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">EUROMIDAFR</spcred:index_entry_primreg><spcred:index_entry_primreg xmlns:spcred="http://www.alacra.com/spcred">USA</spcred:index_entry_primreg><spcred:index_entry_primticker xmlns:spcred="http://www.alacra.com/spcred">SGL@GR</spcred:index_entry_primticker><spcred:index_entry_reporttype xmlns:spcred="http://www.alacra.com/spcred">SUMMARY</spcred:index_entry_reporttype><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">GLOBISS</spcred:index_entry_sector><spcred:index_entry_sector xmlns:spcred="http://www.alacra.com/spcred">CORP</spcred:index_entry_sector><category>Credit &amp; Investment Research</category><alacra:ip>S&amp;P Credit Research</alacra:ip></item></channel></rss>