GrafTech Finalizes Relocation Plans in Northeast Ohio
12/11/2014 - GrafTech International Ltd. announced the two new Northeast Ohio locations for its global headquarters and Innovation & Technology Center.
The company previously announced its decision to relocate its headquarters and redesign its research and development function in September 2014 as part of its ongoing cost savings initiatives to improve profitability and competitive positioning.
GrafTech’s global headquarters will relocate to Independence, Ohio, and will house approximately 50 employees working in the company’s corporate functions, including finance, legal and human resources. The decision to downsize corporate functions by approximately 25% has enabled the relocation to a smaller, more cost effective, corporate headquarters.
The newly established Innovation & Technology Center will be located in Brooklyn Heights, Ohio, and will include scientists, lab technicians and marketing professionals focused on driving innovation to support new product development. The redesigned research and development function will be focused on commercializing next generation technologies in carbon and graphite material science.
GrafTech’s Chief Executive Officer Joel Hawthorne commented, "We continue to execute on our stated goal of creating a more streamlined business model, with greater accountability and cost efficiency. With these moves, we will further reduce expenses, improve operational synergies and best position GrafTech to drive innovation to support future success. I thank the city of Parma for its support over the past 58 years and look forward to our involvment in the new communities that have allowed GrafTech to continue its 128-year legacy in Northeast Ohio."
The transition is expected to be completed by the end of the first quarter of 2015.
GrafTech’s global headquarters will relocate to Independence, Ohio, and will house approximately 50 employees working in the company’s corporate functions, including finance, legal and human resources. The decision to downsize corporate functions by approximately 25% has enabled the relocation to a smaller, more cost effective, corporate headquarters.
The newly established Innovation & Technology Center will be located in Brooklyn Heights, Ohio, and will include scientists, lab technicians and marketing professionals focused on driving innovation to support new product development. The redesigned research and development function will be focused on commercializing next generation technologies in carbon and graphite material science.
GrafTech’s Chief Executive Officer Joel Hawthorne commented, "We continue to execute on our stated goal of creating a more streamlined business model, with greater accountability and cost efficiency. With these moves, we will further reduce expenses, improve operational synergies and best position GrafTech to drive innovation to support future success. I thank the city of Parma for its support over the past 58 years and look forward to our involvment in the new communities that have allowed GrafTech to continue its 128-year legacy in Northeast Ohio."
The transition is expected to be completed by the end of the first quarter of 2015.
