WIESBADEN, Germany, June 26 SGL-Group-Terminate
WIESBADEN, Germany, June 26 /PRNewswire/ -- The SGL Group -- The Carbon
Company (tickers: Germany - SGL GR, SGL GY) -- today announces its intention
to terminate its duty to file reports under section 13(a) or 15(d) of the US
Securities Exchange Act of 1934 and, accordingly, to file Form 15F with the
Securities and Exchange Commission (the SEC) today.
This is the last stage in the process begun in 2007. SGL Group
voluntarily delisted its American Depositary Receipts (ADRs) from the New York
Stock Exchange, with the last day of trading on June 22, 2007. SGL Group also
terminated its ADR program effective June 25, 2007. In accordance with the
SEC rules, which became effective on June 4, 2007, 12 months have elapsed
since delisting and termination of the ADR program and US average daily
trading volume in its shares over a recent 12-month period is less than 5% of
worldwide trading volumes. SGL Group has therefore now met the criteria for
deregistration.
Upon the filing of Form 15F, SGL Group's reporting obligations under the
US Exchange Act will be immediately suspended. The deregistration will be
effective 90 days after the filing, unless the Form 15F is withdrawn by SGL
Group prior to its effectiveness, or the SEC objects to the Form 15F within
the 90 day period. SGL Group reserves the right to delay or withdraw for any
reason the filing of the Form 15F prior to its effectiveness.
About SGL Group -- The Carbon Company
The SGL Group is one of the world's leading manufacturers of carbon-based
products. It has a comprehensive portfolio ranging from carbon and graphite
products to carbon fibers and composites. SGL Group's core competencies are
its expertise in high-temperature technology as well as its applications and
engineering know-how gained over many years. These competencies enable the
Company to make full use of its broad material base. SGL Group's carbon-based
materials combine several unique properties such as electrical and thermal
conductivity, heat and corrosion resistance as well as high mechanical
strength combined with low weight. Due to the paradigm shift in the use of
materials as a result of the worldwide shortage of energy and raw materials,
there is a growing demand for SGL Group's high-performance materials and
products from an increasing number of industries. Carbon and graphite products
are used whenever other materials such as steel, aluminum, copper, plastics,
wood etc. fail due to their limited properties. Products from the SGL Group
are used predominantly in the steel, aluminum, automotive, chemical and
glass/ceramics industries. However, manufacturers in the semiconductor,
battery, solar/wind energy, environmental protection, aerospace and defense
industries as well as in the nuclear energy industry also figure among the
Company's customers.
With 38 production sites in Europe, North America and Asia as well as a
service network covering more than 100 countries, the SGL Group is a company
with a global presence. In 2007, the Company's workforce of around 5,900
generated sales of 1.4 billion euro. The Company's head office is located in
Wiesbaden/Germany.
Important note:
This press release contains statements on future developments that are
based on currently available information and that involve risks and
uncertainties that could lead to actual results deviating from these
forward-looking statements. The statements on future developments are not to
be understood as guarantees. The future developments and events are dependent
on a number of factors, they include various risks and unanticipated
circumstances and are based on assumptions that may not be correct. These
risks and uncertainties include, for example, unforeseeable changes in
political, economic and business conditions, particularly in the area of
electrosteel production, the competitive situation, interest rate and currency
developments, technological developments and other risks and unanticipated
circumstances. We see other risks in price developments, unexpected
developments relating to acquired and consolidated companies and in the
ongoing cost optimization programs. SGL Group does not intend to update these
forward-looking statements.
SOURCE The SGL Group
