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 7, 2001

                         Commission file number: 0-20490

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

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

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

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


                                      None
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           (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 7, 2001, the Registrant issued a press release announcing
that (i) the bank group under its $135 million revolving credit facility has
extended until September 14, 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 (ii) the Registrant was
continuing to work with Questor Management Company LLC and the bank group in an
attempt to complete an alternate transaction. 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 7, 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 10, 2001






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                                  EXHIBIT INDEX

                   EXHIBIT
                     NO.        DESCRIPTION
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                    99.1        Press Release Dated September 7, 2001

EX-99.1

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                                                                    Exhibit 99.1


FOR IMMEDIATE RELEASE

THE CARBIDE/GRAPHITE GROUP, INC. REPORTS EXTENSION OF BANK AGREEMENT WAIVER

         Pittsburgh, Pennsylvania - September 7, 2001 - The Carbide/Graphite
Group, Inc. (NASDAQ NNM: CGGI) reported today that the bank group under its $135
million revolving credit facility (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 14, 2001.

         The Company continues to negotiate with affiliates of Questor
Management Company ("Questor") and the Bank Group to reach agreement on an
alternate transaction whereby Questor would invest $65 million and the Bank
Group would restructure their loans. However, based on the current status of the
negotiations, the Company cannot assess the impact of any such transaction or
other alternatives on any of the Company's constituencies at this time.

         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.