Home › Forums › Coking › News: DCU, Upgrader › 1.Coker (registered users only) › GrafTech acquires minority interest Seadrift Needle coke plant for $135MM › RE: GrafTech acquires minority interest Seadrift Needle coke plant for $135MM
Here is update on the “stand-alone” Seadrift Needle Coker & Calciner operation – a minority sale to GrafTech (GTI is subsidiary of UCAR) for $135 MM.
I believe this purchase value is ~ about twice the price that The Needle Coker Co (Unocal-Citgo JV – also a stand alone needle coker/calciner plant in Lemont) originally paid to Questar for 76 Seadrift LLC when Carbide/Graphite Intl. (CGI) went thru its bankruptcy / restructuring in 2001-02. But Seadrift LP was eventually spun off as separate company via Falcon Partners.
The high coker feedstock cost has always impacted the plants economics during low points and even though a used Desulfurizer was purchased for $30 MM by CGI it was not installed before it ran into Chapter 11 problems. The Needle Coker Co continued to buy low sulfur / high priced decant oil instead of installing the desulfurizer. <Not sure if it has ever been installed by new owners/ Falcon Partners>. The coking unit is delayed coker – 3 drum operation that was installed ~1983 and revamped by Foster Wheeler. And the calciner was supplied by Metso. (Plant also includes NG power plant & Waste Heat Steam generation.)
GrafTech is international graphite & carbon products producer that is also involved with Fuel Cell applications. It’s parent UCAR is supplied by number 1 needle coke producer ConocoPhillips on a long term contract and has also picked up the COP Carbon Fibers technology/pilot plant (including new Meso-phase pitch production) when the COP R&D efforts was closed down shortly after the Phillips merger.