Profile: Zoltek Companies, Inc. (ZOLT.O)

Zoltek Companies, Inc. is engaged in the commercialization of carbon fiber through its development of reinforcement for composites used in a range of commercial products, which it sells under the Panex trade name. In addition to manufacturing carbon fiber, the Company produces an intermediate product, a stabilized and oxidized acrylic fiber used in flame- and heat-resistant applications, which it sells under the Pyron trade name. The Company operates in three separate business segments: carbon fiber segment, technical fiber segment and corporate/other segment, which consists of ancillary activities not directly related to the carbon fiber or technical fiber segments.

The Company has manufacturing plants in Nyergesujfalu, Hungary, Guadalajara, Mexico, Abilene, Texas and St. Charles, Missouri. Its plant in Hungary is its major carbon fiber manufacturing facility. The Company’s Hungarian plant also manufactures acrylic fiber precursor, the raw material that it use to make carbon fibers and oxidized fibers. Its Texas plant houses carbon fiber manufacturing lines and value-added processing capabilities. The Company’s Missouri plant is primarily dedicated to the production of technical fibers for aircraft brake and other friction applications and also produces limited amounts of carbon fibers and houses a research and development facility. In addition, the Company has facilities in Salt Lake City, Utah, where it designs and builds composite manufacturing equipment and can produce resin pre-impregnated carbon fibers, called prepregs.

The Company performs downstream processing, such as weaving, knitting, blending with other fibers, chopping and milling, and preparation of pre-form, pre-cut stacks of fabric. It also manufactures carbon fibers preimpregnated with bonding resin. In addition, its Salt Lake City-based Entec Composite Machines subsidiary designs and builds composite manufacturing equipment and markets the equipment along with manufacturing technology and materials. The Company also provides composite design and engineering for development of applications for carbon fiber reinforced composites.

The Company competes with Hexcel Corporation, Cytec Industries, Toray Group, Toho Tenax, Mitsubishi Rayon and SGL Carbon.