Great Lakes Carbon Corporation ("GLC") is the world's largest producer of both anode and industrial grade calcined petroleum coke ("CPC"). Representing 80% of GLC's sales, anode grade CPC is a necessary and critical material used in the production of aluminum. Industrial grade CPC is used in the production of other industrial materials including titanium dioxide.

American Industrial Partners purchased GLC in May 1998. AIP, in partnership with GLC management, completed the following initiatives during AIP's ownership of GLC:

• Consolidated industry through purchase of Alcoa assets
• Expanded capacity by 50% in La Plata, Argentin facility
• Upgraded customer and supplier mix at acquired facilities
• Increased GLC's valuation through Canadian Income Trust offering

Due to the stable earnings history of Great Lakes, AIP was able to take the company public through the Canadian Income Trust market in August 2003.

AIP completed a final exit of GLC in March 2006 through a strategic sale of its remaining ownership interests.