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ZOLTEK history
ZOLTEK company history timeline
Beginning in 1985, carbon fibers were used to make airbrakes for jumbo jets due to the fact that, unlike steel brake pads, the material did not soften when subjected to the friction and resultant heat caused by stopping a 280-ton airplane.
After completing the acquisition, in 1990 Rumy moved Stackpole's operations to St Louis, establishing manufacturing, research, and development facilities near Zoltek's industrial process equipment business.
Our first major accomplishment came on the heals of our IPO in 1992.
ZOLTEK's initial public offering occurred in 1992.
In 1994, Zoltek began using its proprietary acrylic-based system to manufacture lower-cost carbon fiber composites.
Toward this end, Rumy made an important addition to the company's operations in 1995, an acquisition that took Rumy back home--that of Magyar Viscosa.
A bigger cause for celebration occurred at the beginning of 1996, when the company introduced a new price point of $8 per pound for high-volume orders of carbon fiber.
Zoltek experienced the downside of the public ownership equation in 1998, when its earnings plunged and analysts, previously enamored of the company's potential, began to distance themselves from it.
In late 1997 and early 1998, the heady days when Zoltek's stock value had escalated month by month came crashing to an end. It was a plan predicated on a situation that did not exist in 1998, which meant idle plants and weak profit performance.
Due to Rumy's insistence on increasing capacity, Zoltek reported a substantial loss for the fiscal year ending in September 1999.
As one industry analyst noted in a January 31, 2000 St Louis Business Journal article, referring to the importance of the downstream acquisitions, 'they don't have to just sit there and be carbon fiber salesman.
Orders increased suddenly in 2004, and the demand for carbon fiber continued to increase.
In 2014, ZOLTEK was acquired by the Toray Group.
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ZOLTEK may also be known as or be related to ZOLTEK, ZOLTEK COMPANIES INC, Zoltek Companies Inc, Zoltek Companies Inc. and Zoltek Properties, Inc.