The company posted a $2.6 million loss, as it was unable to overcome the estimated $4 million in losses stemming from idle factories.
Zoltek's revenue and stock price declined in 2009 following the economic crisis, but the company has stated that its successes during that period included increasing production capacity and reducing debt.
The practicality of the company's product received an encouraging boost in 1994 as well when TRW Vehicle Safety Systems Inc. awarded Zoltek a three-year contract, naming the company as the exclusive supplier of carbon fibers for the propellant systems in vehicular airbags. Namely, public ownership required a company to meet analysts' quarterly expectations or suffer immediate consequences.
Using this knowledge, it is well within our power to truly open the floodgates of demand across a variety of industries.ZOLTEK enters the carbon fiber business with an acquisition in 1988, focusing on high-priced, low volume aerospace applications.Living their motto of Innovation by Chemistry, Toray is an integrated chemical industry group developing business, including ZOLTEK, in 26 countries and regions worldwide.Need to speak to ZOLTEK regarding your specific needs?In the world of materials, carbon fiber has emerged as the ultimate team player – one that works miracles in reinforcing other materials and lifting them to new levels of performance.As the demand for commercial carbon fibers increased, ZOLTEK acquired a facility in Guadalajara, Mexico.ZOLTEK was founded in 1975 by Mr. Zsolt Rumy in St. Louis, MissouriZOLTEK's initial public offering occurred in 1992.
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Revenue was up as well, rising from $9.6 million to $12.3 million in 1995 primarily due to a 70 percent increase in sales from the carbon fibers business.A decade later, after settling in the United States, Rumy had earned a degree in engineering from the University of Minnesota. At that time, the industrial equipment and services aspect of Zoltek was phased out, leaving the company and Rumy entirely dependent on the potential of carbon fibers.In late 1997 and early 1998, the heady days when Zoltek's stock value had escalated month by month came crashing to an end. The Zoltek division failed to land the NASA contract and found itself anxiously awaiting the development of the carbon fibers aircraft brake business, a process that was proceeding at a dishearteningly slow pace. Find the latest 143002 (ZOLT) stock quote, history, news and other vital information to help you with your stock trading and investing. Our IPO raised $4 million, and we used most of that to build our first continuous carbonization line for the textile-type precursor.Using the proceeds of a secondary stock offering, ZOLTEK purchased Magyar Viscosa, a Hungarian producer of acrylic and other fibers for the European textile market, giving us further means to drive costs and price while ensuring a supply of raw materials to meet increasing demand.Our Quality Assurance programs have resulted in Zoltek fiber becoming the standard in a variety of applications.At ZOLTEK, we are dedicated to preserving the environment, growing in a sustainable way, and providing safe and healthy work areas for our employees, visitors and contractors.ZOLTEK’s diverse, collaborative work environment rewards hard work, while ensuring that everyone has an equally fulfilling life outside of the office.Another important characteristic of carbon fiber is its versatility. Zoltek Historical Stock Price Carbon fiber reinforced composites are remarkable in their performance characteristics and properties that include high strength, low weight, high stiffness, corrosion resistance, heat resistance, and electrical conductivity.In 2014, ZOLTEK was acquired by the Toray Group.ZOLTEK’s partner, a global expert in filament winding, composite solutions and a complete service provider for the filament winding industry. The TRW contract, rumored to be worth $5 million in sales annually, typified the new, broader-based applications for carbon fibers that Rumy was pushing for.
Accordingly, companies such as Zoltek who competed in the carbon fibers market were forced to consign themselves to catering to aerospace customers. 19/07/2020 20:00:32 1-888-992-3836 Free Membership Login