SGL Carbon sells Moses Lake facility for $70 million

SGL Carbon has sold its decommissioned carbon fiber plant in Moses Lake, Washington, to the investor Refactor Moses Lake for $70 million. The sale includes the land, buildings, and all production machinery and equipment.

The transaction will be completed in two installments: an initial $45 million payment due this year and a remaining $25 million to be paid at a later date. While the sale results in a special gain of $46 million, the company stated that this will not affect its earnings forecast. The primary strategic goal of the sale is to strengthen liquidity, as the $45 million initial payment is expected to significantly increase free cash flow within the current year.