The price has been edging up after hours. Not particularly high volume. I thought it was just someone placing a market order. But get this: the bid is now 10.00 after hours with a depth of 1100, according to AMTD. Hmmm?
According to the press release, Quinpario proposed late last year acquisition in the mid-teens or to bring some capital and expertise in the chemical industry to the table to bolster growth prospects and Zoltek declined to discuss such options. Looks like a bumpy ride ahead to me.....
The value in this company is in their technology that allows them to make C/F cheaper than anyone. A lot of this was developed by Zsolt himself. Im sure he will resist a hostile takeover. If the company is taken over by a bunch of bankers with no engineering expertise ,it might just go down the tubes. They would probably sell it quickly to an engineering driven company like GE.
At the annual meeting Zsolt said that the C/F the company is making right now is the same as airgrade Think about what would happen if the money was spent to get it certified. This may have something to do with what happened today.
Streetinsider says their holding is only 2.05%, whatever. What's even more exciting is they want to replace the entire board with Jeff Quinn, John Rutledge, and others with operational and worldwide experience. This ride could get good very fast.
Can you provide a link to this news? Quinpario website says they are "a private investment and operating company focused in the specialty chemicals, performance materials, organic and inorganic chemicals, plastics and energy-related industries." Based solely on their website they appear to have credentials, but I doubt they can succeed with 10% and I don't think people are all that unhappy with the present directors, but it should be interesting. Might get someone off the fence and put the company in play.