8-K

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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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                                    FORM 8-K

                                 Current Report

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



         Date of Report (date of earliest event reported)   September 4, 2001


                         Commission file number: 0-20490


                        THE CARBIDE/GRAPHITE GROUP, INC.
             (Exact name of registrant as specified in its charter)

           Delaware                                         57-1575609
(State or other jurisdiction of                          (I.R.S. Employer
 incorporation or organization)                         Identification No.)

                         One Gateway Center, 19th Floor
                               Pittsburg, PA 15222
                    (Address of principal executive offices)

                                 (412) 562-3700
              (Registrant's telephone number, including area code)



                                      None
           -----------------------------------------------------------
           (former name or former address, if changed since last year)


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ITEMS 1, 2, 3, 4, 6, 8 AND 9

         Not applicable.

ITEM 5. OTHER EVENTS

         On September 4, 2001, the Registrant issued a press release announcing
that (i) its previously-announced financial restructuring transaction with
Questor Management Company LLC and the bank group under its $135 million
revolving credit facility no longer appeared to be feasible and that the
Registrant was continuing to work with Questor and the bank group in an attempt
to complete an alternate transaction, (ii) the bank group has extended until
September 7, 2001 the expiration date of a previously issued waiver related to
the Registrant's non-compliance with certain financial covenants during its
fiscal year ended July 31, 2000 and (iii) the Registrant has been notified by
The NASDAQ Stock Market that the price of the Registrant's common stock has
fallen below the minimum thresholds required for listing on the NASDAQ National
Market System. A copy of the press release is attached as an exhibit to this
report and is incorporated herein by reference.

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

         (a) FINANCIAL STATEMENTS OF BUSINESS ACQUIRED

             Not Applicable

         (b) PRO FORMA FINANCIAL INFORMATION

             Not Applicable

         (c) EXHIBIT NO.

             99.1 Press Release Dated September 4, 2001



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                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.

                                      THE CARBIDE/GRAPHITE GROUP, INC.

                                  By: /s/  Walter B. Fowler
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                                      Walter B. Fowler - Chief Executive Officer


Dated: September 4, 2001





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                                  EXHIBIT INDEX





         EXHIBIT
            NO.                       DESCRIPTION
         -------       ------------------------------------------
           99.1        Press Release Dated September 4, 2001

EX-99.1

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                                                                    Exhibit 99.1




FOR IMMEDIATE RELEASE

THE CARBIDE/GRAPHITE GROUP, INC. REPORTS PREVIOUSLY-ANNOUNCED FINANCIAL
RESTRUCTURING PLAN NOT FEASIBLE; ALTERNATIVES UNDER CONSIDERATION

         Pittsburgh, Pennsylvania - September 4, 2001 - The Carbide/Graphite
Group, Inc. (NASDAQ NNM: CGGI) reported today that its previously-announced
financial restructuring transaction with affiliates of Questor Management
Company ("Questor") and the bank group under its $135 million revolving credit
facility (the "Bank Group") no longer appears to be feasible. Under such
previously-announced transaction, Questor would have purchased $49 million in
newly-issued preferred stock of the Company and current stockholders would have
had the right to participate in a $15 million rights offering to invest in
preferred stock on the same terms.

         The Company continues to work with Questor and the Bank Group to
complete an alternate transaction whereby Questor would invest $65 million and
the Bank Group would restructure their loans. However, it is unlikely that the
value of the common equity can be preserved under the alternatives presently
being considered, although such alternatives are currently not expected to have
a significant effect on the Company's trade vendors or its on-going operations.

         In connection with the Company's discussions with the Bank Group, the
Bank Group has extended the expiration date of a previously-issued waiver
related to the Company's non-compliance with certain financial covenants during
its fiscal year ended July 31, 2000. Such waiver has been extended until
September 7, 2001.

         The Company was also recently notified by The NASDAQ Stock Market that
the price of the Company's common stock has fallen below the minimum thresholds
required for listing on the NASDAQ National Market System. The Company has until
November 26, 2001 to reach compliance with the minimum listing standards.
Otherwise, the Company's common equity will convert to "over the counter"
trading.

         The Carbide/Graphite Group, Inc. is a leading manufacturer of
industrial graphite and calcium carbide products with manufacturing facilities
in St. Marys, Pennsylvania; Niagara Falls, New York; Louisville and Calvert
City, Kentucky; and Seadrift, Texas.

         Note: This release contains forward-looking statements that are based
on current expectations, estimates and projections about the industries in which
the Company operates, management's beliefs and assumptions made by management.
Words such as "expects," "anticipates," "intends," "plans," "believes,"
"estimates" and variations of such words and similar expressions are intended to
identify such forward-looking statements. These statements constitute
"forward-looking statements" within the meaning of Section 27A of the Securities
Act of 1933, and are subject to the safe harbor created thereby. These
statements are based on a number of assumptions that could ultimately prove
inaccurate and, therefore, there can be no assurance that such statements will
prove to be accurate. There can be no assurance that the Company, Questor and
the Bank Group will reach agreement on any alternative transaction or
restructuring. Other risks and uncertainties are detailed in the Company's
periodic filings with the Securities and Exchange Commission. The Company does
not undertake to publicly update any forward-looking statement, whether as a
result of new information, future events or otherwise.