GrafTech shares surge on clearance to resume Mexico operations
GrafTech International (NYSE:EAF) +11.1% post-market Friday after announcing the conditional lifting of its suspended operations in Monterrey, Mexico, allowing it to resume operations at the facility, effective immediately.
GrafTech (EAF) said the Secretary of Environment of the State of Nuevo León lifted the suspension notice that had been issued September 15, subject to the completion of steps including the submission of an environmental impact study regarding the facility's operations.
For Q4, the company continues to expect the suspension will impact its ability to fulfill 10K-12K metric tons of customer orders.
GrafTech (EAF) makes high-quality graphite electrode products essential to the production of electric arc furnace steel and other ferrous and non-ferrous metals.
GrafTech (EAF) faces headwinds from a possible upcoming recession, and is navigating this with a new CEO who joined the company in July, Jared Wright writes in an analysis published on Seeking Alpha.