-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PCyLE/HaO7b8vdXrGNM+t8//pNpvYyrVl26T6gthz/FME9luM+nEz/nyIC5+4kQd aHOBIO6ihhOKGiFm3BnUeQ== 0000888918-97-000042.txt : 19970630 0000888918-97-000042.hdr.sgml : 19970630 ACCESSION NUMBER: 0000888918-97-000042 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961231 FILED AS OF DATE: 19970627 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: CARBIDE GRAPHITE GROUP INC /DE/ CENTRAL INDEX KEY: 0000888918 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRICAL INDUSTRIAL APPARATUS [3620] IRS NUMBER: 251575609 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20490 FILM NUMBER: 97631219 BUSINESS ADDRESS: STREET 1: ONE GATEWAY CTR STREET 2: 19TH FL CITY: PITTSBURGH STATE: PA ZIP: 15222 BUSINESS PHONE: 4125623700 MAIL ADDRESS: STREET 1: ONE GATEWAY CTR STREET 2: 19TH FL CITY: PITTSBURGH STATE: PA ZIP: 15222 11-K 1 CARBIDE/GRAPHITE GROUP SIP 11-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ------------------------------- FORM 11-K (Mark One) [ X ] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE PLAN YEAR ENDED DECEMBER 31, 1996 (NO FEE REQUIRED) [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number -- 0-20490 ------------------------------- A. Full title of the plan and address of the plan, if different from that of the issuer name below: The Carbide/Graphite Group, Inc. Savings Investment Plan B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive offices: The Carbide/Graphite Group, Inc. One Gateway Center, 19th Floor Pittsburgh, PA 15222 THE CARBIDE/GRAPHITE GROUP, INC. SAVINGS INVESTMENT PLAN INDEX TO FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES Pages Report of Independent Accountants.................................... 2 Financial Statements: Statement of Net Assets Available for Plan Benefits with Fund Information as of December 31, 1996 .................. 3 Statement of Net Assets Available for Plan Benefits with Fund Information as of December 31, 1995 .................. 4 Statement of Changes in Net Assets Available for Plan Benefits with Fund Information for the year ended December 31, 1996...... 5 - 6 Notes to Financial Statements...................................... 7 - 10 Supplemental Schedules: Item 27a - Schedule of Assets Held for Investment Purposes as of December 31, 1996......................................... 11 Item 27d - Schedule of Reportable Transactions for the year ended December 31, 1996............................ 12 1 REPORT OF INDEPENDENT ACCOUNTANTS To the Pension Committee of The Carbide/Graphite Group, Inc. Savings Investment Plan: We have audited the financial statements and supplemental schedules of The Carbide/Graphite Group, Inc. Savings Investment Plan (Plan) as of December 31, 1996 and 1995 and for the year ended December 31, 1996, as listed in the accompanying index on Page 1. These financial statements and supplemental schedules are the responsibility of the Plan's management. Our responsibility is to express an opinion on those financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for plan benefits as of December 31, 1996 and 1995, and the changes in net assets available for plan benefits for the year ended December 31, 1996, in conformity with generally accepted accounting principles. Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of (1) Schedule of Assets Held for Investment Purposes and (2) Schedule of Reportable Transactions are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The fund information in the financial statements is presented for the purpose of additional analysis rather than to present the net assets available for plan benefits and changes in net assets available for plan benefits of each fund. The supplemental schedules and fund information have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. /s/ Coopers & Lybrand L.L.P. Pittsburgh, Pennsylvania June 12, 1997 2 THE CARBIDE/GRAPHITE GROUP, INC. SAVINGS INVESTMENT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION December 31, 1996
George Putnam Putnam Putnam Putnam Fund For Putnam Putnam Guaranteed New International Fund Of Growth and Income Voyager Income Opportunities Growth Boston Income Fund Fund Fund Fund Fund ------------------------------------------------------------------------------------------------- ASSETS Investments, at value (Note 3) $ 2,626,242 $ 8,625,760 $ 2,746,749 $ 4,894,682 $ 9,520,705 $ 5,849,858 $ 1,369,979 ------------------------------------------------------------------------------------------------- Net assets available for plan benefits $ 2,626,242 $ 8,625,760 $ 2,746,749 $ 4,894,682 $ 9,520,705 $ 5,849,858 $ 1,369,979 =================================================================================================
Carbide/ Graphite Loan Common Fund Stock Total --------------------------------------- ASSETS Investments, at value (Note 3) $ 1,889,150 $ 814,077 $ 38,337,202 --------------------------------------- Net assets available for plan benefits $ 1,889,150 $ 814,077 $ 38,337,202 ======================================= The accompanying notes are an integral part of the financial statements. 3 THE CARBIDE/GRAPHITE GROUP, INC. SAVINGS INVESTMENT PLAN STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION December 31, 1995
American 20th Century Mentor PNC Guaranteed PNC Money Mutual Ultra Perpetual Balanced Income Market Loan Fund Investors Global A Institutional Fund Fund Fund ------------------------------------------------------------------------------------------------- ASSETS Investments, at value (Note 3) $ 6,071,820 $ 1,556,398 $ 555,688 $ 248,131 $ 24,300,807 $ 215,065 $ 1,977,638 Receivables: Employer's contributions - - - - 46,504 - - Employees' contributions 48,716 20,732 7,437 3,508 72,518 2,022 - ------------------------------------------------------------------------------------------------- Total assets 6,120,536 1,577,130 563,125 251,639 24,419,829 217,087 1,977,638 ------------------------------------------------------------------------------------------------- Net assets available for plan benefits $ 6,120,536 $ 1,577,130 $ 563,125 $ 251,639 $ 24,419,829 $ 217,087 $ 1,977,638 =================================================================================================
Total -------------- ASSETS Investments, at value (Note 3) $ 34,925,547 Receivables: Employer's contributions 46,504 Employees' contributions 154,933 -------------- Total assets 35,126,984 -------------- Net assets available for plan benefits $ 35,126,984 ============== The accompanying notes are an integral part of the financial statements. 4 THE CARBIDE/GRAPHITE GROUP, INC. SAVINGS INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1996
20th Mentor PNC American Century Perpetual PNC Guaranteed Money Mutual Ultra Global Balanced Income Market Fund Investors A Institutional Fund Fund --------------------------------------------------------------------------------------------------- ADDITIONS: Interest and dividend income $68,650 $4,832 $916 $3,474 $647,831 $489 Net appreciation (depreciation) in fair value of investments 192,475 127,129 56,523 6,543 737,680 3,993 Employer's contributions - - - - 126,273 - Employees' contributions 144,110 57,410 18,378 10,909 385,897 6,908 --------------------------------------------------------------------------------------------------- Total additions 405,235 189,371 75,817 20,926 1,897,681 11,390 --------------------------------------------------------------------------------------------------- DEDUCTIONS: Withdrawals (121,517) (73,436) (2,416) - (2,695,564) (2,323) --------------------------------------------------------------------------------------------------- Total deductions (121,517) (73,436) (2,416) - (2,695,564) (2,323) --------------------------------------------------------------------------------------------------- Transfer for loans, net of repayments (40,041) (18,573) (5,753) - (72,007) (7,003) Inter-fund transfers (6,364,213) (1,674,492) (630,773) (272,565) (14,029,234) (219,151) --------------------------------------------------------------------------------------------------- Net change in fund balance (6,120,536) (1,577,130) (563,125) (251,639) (14,899,124) (217,087) Net assets available for plan benefits, beginning of plan year 6,120,536 1,577,130 563,125 251,639 24,419,829 217,087 --------------------------------------------------------------------------------------------------- Net assets available for plan benefits, end of plan year $- $- $- $- $9,520,705 $- ===================================================================================================
George Putnam Loan Fund Of Totals Fund Boston Forward -------------------------------------------- ADDITIONS: Interest and dividend income $115,125 $193,023 $1,034,340 Net appreciation (depreciation) in fair value of investments - 66,305 1,190,648 Employer's contributions - 100,678 226,951 Employees' contributions - 105,846 729,458 -------------------------------------------- Total additions 115,125 465,852 3,181,397 -------------------------------------------- DEDUCTIONS: Withdrawals (7,745) (16,101) (2,919,102) -------------------------------------------- Total deductions (7,745) (16,101) (2,919,102) -------------------------------------------- Transfer for loans, net of repayments 71,815 (22,701) (94,263) Inter-fund transfers (267,683) 2,199,192 (21,258,919) -------------------------------------------- Net change in fund balance (88,488) 2,626,242 (21,090,887) Net assets available for plan benefits, beginning of plan year 1,977,638 - 35,126,984 -------------------------------------------- Net assets available for plan benefits, end of plan year $1,889,150 $2,626,242 $14,036,097 ============================================ (Continued) The accompanying notes are an integral part of the financial statements. 5 THE CARBIDE/GRAPHITE GROUP, INC. SAVINGS INVESTMENT PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION FOR THE YEAR ENDED DECEMBER 31, 1996 -- Continued
Putnam Fund Putnam For Putnam Putnam New Totals Growth and Income Voyager Opportunities Forward Income Fund Fund Fund ----------------------------------------------------------------------------------------------- ADDITIONS: Interest and dividend income $1,034,340 $658,169 $99,308 $316,358 $45,030 Net appreciation (depreciation) in fair value of investments 1,190,648 384,536 92,849 (160,245) (100,994) Employer's contributions 226,951 319,645 91,909 298,965 379,633 Employee's contributions 729,458 323,605 84,287 297,735 369,804 ----------------------------------------------------------------------------------------------- Total additions 3,181,397 1,685,955 368,353 752,813 693,473 ----------------------------------------------------------------------------------------------- DEDUCTIONS: Withdrawals (2,919,102) (285,917) (11,416) (251,274) (403,771) ----------------------------------------------------------------------------------------------- Total deductions (2,919,102) (285,917) (11,416) (251,274) (403,771) ----------------------------------------------------------------------------------------------- Transfer for loans, net of repayments (94,263) 28,752 (19,119) 31,889 37,566 Inter-fund transfers (21,258,919) 7,196,970 2,408,931 4,361,254 5,522,590 ----------------------------------------------------------------------------------------------- Net change in fund balance (21,090,887) 8,625,760 2,746,749 4,894,682 5,849,858 Net assets available for plan benefits, beginning of plan year 35,126,984 - - - - ----------------------------------------------------------------------------------------------- Net assets available for plan benefits, end of plan year $14,036,097 $8,625,760 $2,746,749 $4,894,682 $5,849,858 ===============================================================================================
Carbide/ International Graphite Growth Common Fund Stock Total ------------------------------------------- ADDITIONS: Interest and dividend income $14,517 $- $2,167,722 Net appreciation (depreciation) in fair value of investments 92,159 125,258 1,624,211 Employer's contributions 83,443 45,606 1,446,152 Employee's contributions 87,539 38,877 1,931,305 ------------------------------------------- Total additions 277,658 209,741 7,169,390 ------------------------------------------- DEDUCTIONS: Withdrawals (78,726) (8,966) (3,959,172) ------------------------------------------- Total deductions (78,726) (8,966) (3,959,172) ------------------------------------------- Transfer for loans, net of repayments 15,195 (20) - Inter-fund transfers 1,155,852 613,322 - ------------------------------------------- Net change in fund balance 1,369,979 814,077 3,210,218 Net assets available for plan benefits, beginning of plan year - - 35,126,984 ------------------------------------------- Net assets available for plan benefits, end of plan year $1,369,979 $814,077 $38,337,202 =========================================== The accompanying notes are an integral part of the financial statements 6 THE CARBIDE/GRAPHITE GROUP, INC. SAVINGS INVESTMENT PLAN NOTES TO FINANCIAL STATEMENTS 1. Description of Plan and Benefits The Carbide/Graphite Group, Inc. Savings Investment Plan (the Plan), established as of August 1, 1988, is a defined contribution plan covering eligible salaried employees following the third monthly anniversary of their employment date. The Plan is administered by the Pension Committee which consists of three members who are appointed by The Carbide/Graphite Group, Inc.'s (the Company) Board of Directors. Generally, the Plan provides that employees may make regular contributions of 2% to 16% of their salaries on a before-tax, after-tax or combined basis, subject to limitations specified in the Internal Revenue Code. Employees direct that their contributions be invested in the funds offered by the Plan. During May 1996, the trustee was changed from PNC Bank to Putnam Investments, and the investment funds offered by the plan were converted from the American Mutual Fund, 20th Century Ultra Investors, Mentor Perpetual Global A, PNC Balanced Fund, and the PNC Money Market Fund to the George Putnam Fund of Boston, Putnam Fund for Growth and Income, Putnam Income Fund, Putnam Voyager Fund, Putnam New Opportunities Fund, Putnam International Growth Fund, and Carbide/Graphite Common Stock. The Guaranteed Income Fund and Loan Fund remained investment options throughout 1996. Contributions may be invested entirely in one fund or allocated among the funds, subject to allocation limitations set forth in the Plan. Changes in allocation of future contributions and transfers of presently invested contributions among funds are permitted pursuant to the Plan provisions. Such changes and transfers are executed by plan participants through on-line record keeping functions provided by PNC Bank, through May 1996 and by Putnam Investments from May 1996 through December 31, 1996. The Company contributes to the Plan at the rate of 50% of the employees' contributions up to 6% of the employees' salary. Company profit-sharing contributions made on behalf of each participant who is an employee during the fiscal year shall be based on the individual's pay rate as of July 31 of such fiscal year. Additional employer contributions may be made at the discretion of the Board of Directors based on the Company's current year financial performance. In no event, however, shall such contributions for any year exceed the maximum amount deductible under the provisions of the Internal Revenue Code. Income on employee contributions and employer contributions is allocated to participants' employee and employer accounts based on the relationship of each participant's account to the total of all participants' accounts. Participants are fully vested in the value of their contributions and related investment income at all times. They become fully vested in their allocated share of employer contributions and related investment income after four years of service. Employer contributions forfeited by participants not vested at their termination date will be used to reduce future Company contributions. Withdrawals from the Plan are permitted under the various options as more fully described in the Plan document. 7 THE CARBIDE/GRAPHITE GROUP, INC. SAVINGS INVESTMENT PLAN NOTES TO FINANCIAL STATEMENTS--Continued Reference should be made to the Plan document for additional information concerning contributions, eligibility, allocation of income, withdrawals, vesting and other important features of the Plan. Although there is not a present intent to do so, the Company has reserved the right to terminate or partially terminate the Plan and, upon termination, all participants will become fully vested in any funds which have been allocated to them. 2. Summary of Significant Accounting Policies The financial statements of the Plan have been prepared in conformity with generally accepted accounting principles. The following are the significant accounting policies followed by the Plan: Use of Estimates The preparation of the Plan's financial statements in conformity with generally accepted accounting principles require the plan administrator to make significant estimates and assumptions that affect the reported amounts of net assets available for plan benefits at the date of the financial statements and the changes in net assets available for plan benefits during the reporting period. Actual results could differ from those estimates. Risks and Uncertainties The Plan provides for various investment options. Investment securities are exposed to various risks, such as interest rate, market and credit risk. Due to the level of risk associated with certain investment securities, it is at least possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participant account balances and the amounts reported in the statement of net assets available for plan benefits with fund information. Investment Valuation Investments in the Guaranteed Income Fund are stated at contract value. Contract value represents contributions made under the Plan, plus interest income, less benefits paid to participants. The crediting interest rates on outstanding contracts as of December 31, 1996 and 1995 ranged from 6.95% to 7.00% and 5.91% to 8.21%, respectively. The average yield on outstanding contracts during the years ended December 31, 1996 and 1995 was approximately 6.97% and 7.00%, respectively. Investments in the George Putnam Fund of Boston, Putnam Fund for Growth and Income, Putnam Income Fund, Putnam Voyager Fund, Putnam New Opportunities Fund, Putnam International Growth Fund, and Carbide/Graphite Common Stock Fund are valued based on the market values of the underlying investments in these funds. The net appreciation (depreciation) 8 THE CARBIDE/GRAPHITE GROUP, INC. SAVINGS INVESTMENT PLAN NOTES TO FINANCIAL STATEMENTS--Continued in fair value of investments represents the net realized and unrealized gain or loss in the underlying investments of these funds. Investments in the Putnam Stable Value Fund are stated at cost, which approximates market value. Participant loans included in the Loan Fund are stated at net realizable value (total borrowings less repaid principal). Accrued interest and dividends due each fund are reflected as a component of investments, at value in the statement of net assets available for plan benefits with fund information as of December 31, 1996 and 1995. Administrative Expenses Administrative expenses of the Plan, including trustee, legal, and audit fees, are paid by the Company and, as such, are not expenses of the Plan. 3. Investments The following is a brief description of the types of investments held by each fund as of December 31, 1996: George Putnam Fund of Invests in a diversified portfolio of stocks Boston and bonds. Putnam Fund for Invests in a diversified portfolio of stocks Growth and Income and fixed income securities. Putnam Income Fund Invests in government obligations and corporate debt securities. Putnam Voyager Fund Invests in government obligations and corporate debt securities. Putnam New Invests in common stocks of companies within Opportunities Fund certain emerging industry groups. Putnam International Invests in securities of companies located Growth Fund outside the United States and North America. Carbide/Graphite Invests in shares of Carbide/Graphite Group, Common Stock Fund Inc. company stock. Guaranteed Income Invests in guaranteed investment contracts Fund with insurance companies. 9 THE CARBIDE/GRAPHITE GROUP, INC. SAVINGS INVESTMENT PLAN NOTES TO FINANCIAL STATEMENTS--Continued Investments greater than 5% of the net assets available for plan benefits as of the end of the Plan year (at market/contract value) are as follows: George Putnam Fund of Boston $2,626,242 Putnam Fund for Growth and Income 8,625,760 Putnam Income Fund 2,746,749 Putnam Voyager Fund 4,894,682 Aetna Life Insurance Company Guaranteed Investment Contract 3,630,610 Aetna Life Insurance Company Guaranteed Investment Contract 5,823,955 Putnam New Opportunities Fund 5,849,858 4. Participant Loans Loans are available to all participants subject to provisions set forth in the Plan document. The loans bear interest at the prime rate in effect at the time of the borrowing and remain fixed for the term of the loan. Loan terms and repayment policies are designed to be in compliance with the requirements of Section 401(k) of the Internal Revenue Code. For the year ended December 31, 1996, new participant loans were made in the amount of $949,950 which were partially offset by principal and interest payments of $878,135. 5. Tax Status The Plan is qualified under Section 401(a) of the Internal Revenue Code of 1986, as amended, and the regulations issued thereunder, and the Plan is thereby tax-exempt within the meaning of Section 501(a) of the Internal Revenue Code. 10 THE CARBIDE/GRAPHITE GROUP, INC. SAVINGS INVESTMENT PLAN ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1996
Face Value/ Number Maturity Of Interest Market Date Shares Rate Cost Value ----------------------------------------------------------------------------------------- George Putnam Fund Of Boston - 160,137 - $2,566,350 $2,626,242 Putnam Fund For Growth and Income - 478,677 - 8,288,788 8,625,760 Putnam Income Fund - 391,833 - 2,657,985 2,746,749 Putnam Voyager Fund - 303,640 - 5,045,504 4,894,682 Putnam Guaranteed Income Fund: Putnam Stable Value Fund - $66,140 - 66,140 66,140 Aetna Life Insurance Company Guaranteed Investment Contract 12/31/97 $3,630,610 6.95% 3,630,610 3,630,610 Aetna Life Insurance Company Guaranteed Investment Contract 12/31/97 $5,823,955 7.00 5,823,955 5,823,955 Putnam New Opportunities Fund - 143,979 - 5,941,654 5,849,858 Putnam International Growth Fund - 91,150 - 1,280,660 1,369,979 Loan Fund - $1,889,150 7.30 - 11.50 1,889,150 1,889,150 Carbide/Graphite Common Stock - 41,482 - 754,024 814,077 =================================== Total $37,944,820 $38,337,202 ====================================
11 THE CARBIDE/GRAPHITE GROUP, INC. SAVINGS INVESTMENT PLAN ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1996
Number of Purchase Number of Sales Identity of Party Description of Assets Purchases Value Sales Proceeds - ----------------------------------------------------------------------------------------------------------------------------------- Putnam Investments George Putnam Fund of Boston 42 $2,825,268(1) 35 $629,330(2) Putnam Investments Putnam Fund For Growth and Income 70 5,785,460(1) 60 3,707,413(1) Putnam Investments Putnam Income Fund 37 3,007,737(1) 32 353,836(2) Putnam Investments Putnam Voyager Fund 66 4,764,505(1) 53 1,510,917(2) Putnam Investments John Hancock Mutual Life Guaranteed Investment Contract 1 309,850(2) 5 5,913,216(1) Putnam Investments Aetna Life Insurance Company Guaranteed Investment Contract - - 1 3,492,023(1) Putnam Investments Allstate Life Insurance Company Guaranteed Investment Contract - - 1 4,333,917(1) Putnam Investments Putnam Stable Value Fund 49 7,000,325(1) 66 6,989,659(1) Putnam Investments Putnam New Opportunities Fund 72 6,705,827(1) 47 754,975(2) Putnam Investments Putnam International Growth Fund 50 1,169,175(1) 26 523,267(2) Putnam Investments Carbide/Graphite Common Stock 43 1,297,348(2) 31 608,530(2) PNC Bank 20th Century Ultra Investors 28 354,606(2) 15 2,038,108(1) PNC Bank American Mutual Fund 33 641,401(2) 30 6,905,659(1)
Current Current Value of Value of Assets on Assets on Cost of Acquisition Disposal Net Identity of Party Description of Assets Assets Sold Date Date Gain/(Loss) - -------------------------------------------------------------------------------------------------------------------------- Putnam Investments George Putnam Fund of Boston $622,918 $2,825,268 $629,330 $6,412 Putnam Investments Putnam Fund For Growth and Income 3,659,849 5,785,460 3,707,413 47,564 Putnam Investments Putnam Income Fund 349,752 3,007,737 353,836 4,084 Putnam Investments Putnam Voyager Fund 1,520,340 4,764,505 1,510,917 (9,423) Putnam Investments John Hancock Mutual Life Guaranteed Investment Contract 5,913,216 309,850 5,913,216 - Putnam Investments Aetna Life Insurance Company Guaranteed Investment Contract 3,492,023 - 3,492,023 - Putnam Investments Allstate Life Insurance Company Guaranteed Investment Contract 4,333,917 - 4,333,917 - Putnam Investments Putnam Stable Value Fund 6,989,659 7,000,325 6,989,659 - Putnam Investments Putnam New Opportunities Fund 764,174 6,705,827 754,975 (9,199) Putnam Investments Putnam International Growth Fund 520,427 1,169,175 523,267 2,840 Putnam Investments Carbide/Graphite Common Stock 543,324 1,297,348 608,530 65,206 PNC Bank 20th Century Ultra Investors 1,650,889 354,606 2,038,108 387,219 PNC Bank American Mutual Fund 6,115,209 641,401 6,905,659 790,450
(1) Represents a series of transactions, one of which individually exceeds 5% of the current value of plan assets at the beginning of the year. (2) Represents a series of transactions, none of which individually exceeds 5% of the current value of plan assets at the beginning of the year. 12 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned, hereunto duly authorized, on June 27, 1997. THE CARBIDE/GRAPHITE GROUP, INC. SAVINGS INVESTMENT PLAN By: /s/ Walter E. Damian -------------------------------- Walter E. Damian Plan Adminstrator EX-1 2 CONSENT OF INDEPENDENT ACCOUNTANTS Exhibit 1 CONSENT OF INDEPENDENT ACCOUNTANTS We consent to the incorporation by reference in the registration statement of The Carbide/Graphite Group, Inc. Savings Investment Plan on Form S-8, of our report dated June 12, 1997 on our audits of the financial statements of The Carbide/Graphite Group, Inc. Savings Investment Plan as of December 31, 1996 and 1995 and for the year ended December 31, 1996, included in this Annual Report on Form 11-K. /s/ Coopers & Lybrand L.L.P. Pittsburgh, Pennsylvania June 27, 1997 -----END PRIVACY-ENHANCED MESSAGE-----