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SGL settles pricing suit
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May 4, 1999: 1:17 p.m. ET
Carbon, graphite producer to pay $145M on U.S. antitrust charges
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NEW YORK (CNNfn) - SGL Carbon AG, a German producer of carbon and graphite products used in making steel, said Tuesday it will pay $145 million to settle a U.S. antitrust lawsuit charging it with price fixing.
The company's settlement with the U.S. Justice Department will be paid in six annual installments, resolving a two-year investigation.
The settlement is divided into two parts, with $135 million directed against the company and $10 million covering claims against CEO Robert Koehler.
Separately, SGL (SGG) said its sales bottomed out in January and February, reaching a low point of 411 million German marks in the first quarter. Since then, the company said, it has seen gains as Asia recovers from financial crisis.
"The surge in orders in March and April, especially in the United States, already points to a clear revival in business for the second quarter," the company said. "Thus we are expecting shipments for graphite electrodes to increase in terms of volume."
SGL American depositary shares climbed on the news, gaining 2-3/4, or 14.47 percent, to 21-3/4 midday Tuesday. 
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SGL Carbon
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