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HOECHST AND HORSEHEAD INDUSTRIES MERGE WORLDWIDE GRAPHITE OPERATIONS

 HOECHST AND HORSEHEAD INDUSTRIES MERGE WORLDWIDE GRAPHITE OPERATIONS
 NEW YORK, Feb. 10 /PRNewswire/ -- Hoechst AG, Frankfurt, Germany, and Horsehead Industries, Inc., New York, today announced that on Feb. 6 they completed the merger of the carbon and graphite activities of their respective subsidiaries SIGRI GmbH, Meitingen, and the Graphite Products Division of Great Lakes Carbon Corporation, Briarcliff Manor, N.Y.
 The new venture will be named Sigri Great Lakes Carbon (SGL Carbon). Hoechst will own two-thirds and Horsehead one-third of the company, which will operate production facilities in Europe and North America and will have its corporate headquarters in Wiesbaden, Germany. Hoechst and Horsehead had previously announced, on Sept. 13, 1991, their intention to complete this merger.
 Sigri will bring its entire line of carbon and graphite products to SGL Carbon, while Great Lakes will contribute its graphite electrode and specialty graphite businesses. Great Lakes' other operations will not be a part of the new company and will remain wholly owned business units of Horsehead.
 SGL Carbon will produce and distribute products for a number of industries including steel and aluminum. In addition to graphite electrodes and specialty graphite its product range includes high- performance products such as graphite fibers, felts and composite materials, and products made of sintered metal and silicon carbide. Total sales of SGL Carbon are in the range of $750 million.
 Hoechst AG is one of the world's largest chemicals groups, with operations in such areas as chemicals, fibers, films, plastics and pharmaceuticals. In the United States, Hoechst operates primarily through its wholly owned subsidiary, Hoechst Celanese Corporation.
 Horsehead Industries is one of the United States' largest privately held manufacturing companies. In addition to its interest in SGL Carbon, Horsehead operates businesses in the zinc, petroleum coke, and environmental services industries.
 -0- 2/10/92
 /CONTACT: Peter W. Nelson of Horsehead Industries, 212-527-3000/ CO: Horsehead Industries, Inc.; Hoechst AG ST: New York IN: SU: TNM


TS-CK -- NY001 -- 8152 02/10/92 09:25 EST
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Date:Feb 10, 1992
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