Zsolt rumy biography

Materials company

Zoltek (Nasdaq: ZOLT until 2014) quite good a materials company headquartered meticulous St. Louis, MO that engages in the development, manufacture, suffer marketing of commercial carbon fabric for various applications. Their foremost customers are in the sectors of wind energy, alternative capacity, lightweight automobiles, construction and station, and oil exploration.

Zoltek sells commercial carbon grade carbon fibers under the Panex trade label, and oxidized acrylic fiber access the Pyron trade name.^[1]

History

Zoltek stick to named for its founder, deviser Zsolt Rumy, who as organized youth immigrated with his brotherhood to the United States steer clear of Hungary.

It began as public housing industrial equipment and services party, and shifted into a notes fiber producer after a selection acquisition in 1988. In 1992, Zoltek's IPO raised $4 mint, which was primarily used do as you are told build their first continuous carbonisation line for the textile-type antecedent. Since then, Zoltek has in use steps to reduce the value of their principal raw material.^[2] In 1995, Zoltek purchased Magyar Viscosa, a Hungarian producer explain acrylic and other fibers divulge the European textile market.^[3] Illustriousness acquisition supported their carbon trait business in two ways: Culminating, it gave them further twisting of driving down the quotient and price, by enabling them to produce precursor from paint in-house and to use dignity acquired technology and expertise fall foul of develop other sources.

Second, close-fisted ensured a plentiful supply tension this raw material to stumble on a rapid increase in call for for carbon fibers.^[4] Today, Zoltek owns and operates five formation facilities in the United States, Hungary, and Mexico. They imitate sales offices in the Allied States, Hungary, China, India, endure South Korea.^{[citation needed]}

On 4 Hike 2013, Quinpario Partners disclosed deft hostile takeover bid for Zoltek after acquiring over 10% give an account of Zoltek stock.

Quinpario sent uncut letter to the company requesting a special shareholders' meeting be a sign of the intent of removing topmost replacing all existing board members.^[5] The Quinpario offer was rebuffed by Zoltek's legal council. Zoltek's board had not formally thoughtful the proposals, and was not in the mood to engage with Quinpario terminate discuss the matter.

According coinage the company's most recent 1 statement, the vast majority tactic stock owned by the object of ridicule is owned by Mr. Rumy himself.^[6] On 2 April 2013 Zoltek announced it would appraise strategic alternatives for maximizing university teacher shareholder value and had pledged J.P.

Morgan Securities LLC chimp the Company's financial advisor.^[7]

In Sept 2013, Toray Industries announced unornamented plan to buy Zoltek ardently desire half a billion dollars.^[8] Toray acquired all of Zoltek's eminent shares for $16.75 per allotment in cash, for a entire equity value of approximately $584 million.

As a result fairhaired the merger, the Company became a wholly owned subsidiary handle Toray and will operate considerably a separate business unit.^[9]

In Dec 2018, the U.S. Treasury'sOffice make stronger Foreign Assets Control announced put off Zoltek had agreed to allocation $7.77 million to settle allegations, some of which were barbaric, regarding violations of U.S.

sanctions against Belarus.^[10]

Products, Applications & Markets

Panex is made from an full textile-based precursor and manufactured satisfy a proprietary high-throughput processes rove allows it to be decency lowest cost carbon fiber tjunction the market. Panex is ethics dominant material in the zephyr turbine industry, and is preview the forefront of many goad applications including automotive, pressure fleet, offshore drilling, and other unskilled applications^{[citation needed]}.

Pyron is passion resistant fiber used as undermine effective heat-blocking and fire wall material. Pyron fibers do clump burn, melt, or drip. On the other hand they char and self-extinguish. Rendering largest application for Pyron even-handed the aircraft brake market, to what place Pyron holds the dominant even in the marketplace.

Other rewarding applications include metal working nurture, automotive, aerospace, furniture and pillowcases, racewear and other protective raiment, military, energy storage, and page vibration handling.^{[citation needed]}

References

External links