C/G Electrodes manufactures premium graphite electrodes used in the production of steel in electric arc furnaces ("EAF"), the technology used by mini-mills. Graphite electrodes serve as a key consumable of the power systems that generate heat as high as 5,000 degrees Fahrenheit to melt scrap steel, iron ore and other raw materials in an EAF.
Eureka successfully exited C/G Electrodes through the sale of its equity interest to the Company in a recapitalization that closed in December 2005.